A Financing Statement,once Filed,is Effective for Six Years,but at the End

question 44

True/False

A financing statement,once filed,is effective for six years,but at the end of that period the statement will expire,leaving the secured party unprotected.

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Definitions:

Proactive Interference

A phenomenon where older information learned previously interferes with the recall of newer information.

Recall

The act of retrieving information or memories from the past without the use of explicit cues or stimuli.

Decay Theory

Theory stating that when an individual learns something new, a neurochemical memory trace forms, but over time this trace disintegrates; suggests that the passage of time always increases forgetting.

Neurochemical Memory

Refers to how memories are stored and retrieved through the action of neurotransmitters and neural pathways in the brain.