A Creditor Who Extends Credit for the Purchase of a Consumer

question 100

True/False

A creditor who extends credit for the purchase of a consumer good under a written security agreement does not have to file a financing statement or take possession of the goods to perfect security interest.

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Definitions:

Enzyme

Biological molecules that significantly speed up the rate of virtually all of the chemical reactions that take place within cells.

Reaction

A process in which substances interact to form new substances with different chemical and physical properties.

Product

In biochemistry, a product is a substance that is formed as the result of a chemical reaction.

Active Sites

The region on an enzyme where substrate molecules bind and undergo a chemical reaction.