Being Stuck in Traffic Imposes ______ on Drivers Because They

question 19

Multiple Choice

Being stuck in traffic imposes ______ on drivers because they could be doing something more productive with their time.

• A) a policy gridlock
• B) an opportunity cost
• C) a risk assessment
• D) an inducement

---

Definitions:

Perfection by Possession

A process in secured transactions where a creditor secures an interest in the collateral by taking physical possession of it, ensuring priority over other creditors.

Perfection by Filing

A legal process involving the filing of documents to protect a secured interest in a debtor's collateral, ensuring priority over claims from other creditors.

Financing Statement

A document filed to give public notice of a security interest in personal property, which is usually part of a secured transaction.

UCC

Stands for Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.