In a Financing Statement to Give Notice of a Loan

question 63

Multiple Choice

In a financing statement to give notice of a loan to Lumber Yard Inc., Metro Finance Company wants to include a description of the collateral. A sufficient description would be

• A)"all the debtor's personal property."
• B)"all the debtor's assets."
• C)"all the debtor's present and future inventory."
• D)any of the choices.

Understand the process and effects of plasmolysis in plant cells under specific osmotic conditions.

Understand strategies for effective presentation closures.

Recognize the importance of summarizing the main idea during the introduction.

Learn techniques to build credibility with the audience.

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Definitions:

Promissory Note

A financial tool comprising a formal pledge by one entity to compensate another entity with a certain amount of money, which can be requested at any time or on a predefined future date.

Negotiate

To discuss something in an attempt to reach agreement, especially in business or political contexts.

Properly Drawn

A term indicating that a document, especially a legal document, has been prepared correctly and in accordance with all necessary formalities.

Endorsee

A person or entity to whom a negotiable instrument, such as a cheque or promissory note, is legally transferred through endorsement.