Lenders Bank Files a Financing Statement Regarding a Transaction with Metro

question 41

Multiple Choice

Lenders Bank files a financing statement regarding a transaction with Metro Company. To be valid, the financing statement must contain all of the following except

• A) a description of the collateral.
• B) a statement of the purpose for the transaction.
• C) Lenders' name.
• D) Metro's name.

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Definitions:

Community Mental Health Act

A 1963 piece of U.S. legislation that aimed to provide federal funding for community mental health centers and research facilities to improve treatment and care for the mentally ill.

Deinstitutionalization Act

Legislation aimed at reducing the population of mental health hospitals and integrating individuals with mental illnesses into community-based settings.

Civil Rights Act

Legislation, particularly that enacted in the USA in 1964, aimed at ending discrimination based on race, color, religion, sex, or national origin.

Antipsychotic Drugs

Medications used to manage psychosis, including schizophrenia and bipolar disorder, by affecting dopamine levels in the brain.