Why Is It Important to Effect Timely Registration of a Security

question 47

Multiple Choice

Why is it important to effect timely registration of a security interest?

• A)It avoids the need to complete and file a disclosure statement
• B)It is a pre-requisite to a creditor being able to enforce the debt against the debtor
• C)It affects the creditor's tax liability
• D)The order of registration determines the order of priority of creditors
• E)All of the above

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Definitions:

Enzyme

Biological molecules that act as catalysts, speeding up chemical reactions in the body without being consumed in the process.

Mutant Gene

A gene that has undergone mutation, altering its original function, which can have various effects on an organism's phenotype.

Uracil

(uracil) A nitrogenous pyrimidine base found in RNA.

Adenine

A purine nucleobase that pairs with thymine in DNA and uracil in RNA, essential for the structure of nucleic acids.