Automatic Perfection Means That

question 25

Multiple Choice

Automatic perfection means that:

• A) no financing statement need be filed.
• B) no agreement need be made between the debtor and the secured party.
• C) no value need be advanced.
• D) All of these are true about automatic perfection.

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Definitions:

Empty

Lacking content, occupants, or value; not filled or occupied.

Special Movie

A film that is made for a specific event, occasion, or purpose, often differing from mainstream cinema.

Food and Drinks

Items consumed for nutrition and enjoyment, including solid foods and liquid beverages.

Additional Minute

The extra time added to a service or usage period, often referring to additional charges in telecommunications for surpassing a plan limit.