What Are the Three Basic Processes Required for Memory

question 25

Short Answer

What are the three basic processes required for memory?

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Definitions:

Perfecting Security Interest

The legal process by which a secured party establishes a priority claim on a debtor's collateral in case of default.

Attachment

A legal procedure by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor or sold for benefit of the creditor.

Filing

The process of submitting documents to a designated body or authority (such as a court or public office) for official recording and recognition.

Continuation Statements

Documents filed to continue the effectiveness of a UCC financing statement beyond its original expiration date.