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:

Childbirth

The act of childbirth, encompassing the stages of labor and delivery.

Milk Production

The process by which mammary glands in mammals produce milk to feed their young.

Capacitation

A physiological change that sperm must undergo to have the ability to penetrate and fertilize an egg.

Oocyte

A female germ cell involved in reproduction; an immature ovum (egg cell).