What of the Following Is True About Perfection by Possession

question 13

Multiple Choice

What of the following is true about perfection by possession of collateral?

• A) A creditor cannot take possession of the collateral until a financing statement is filed.
• B) A creditor that has physical possession of the collateral does not have to file a financing statement.
• C) A creditor with financing statement has more privilege on the collateral than a creditor with physical possession.
• D) A financing statement can be filed only against intangible personal property placed as collateral.

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Definitions:

Incest Taboos

Social and cultural prohibitions against sexual relationships between certain relatives, considered universal across societies to prevent genetic disorders and social chaos.

Exogamy Rules

Social norms that dictate that marriage or mating must occur outside certain social, cultural, or familial groups.

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups.

Socially Approved

Actions or behaviors that are accepted and encouraged by society or a specific community, often reflected in cultural norms and values.