Hank's Tractor Is Collateral for a Loan and Hank Moves

question 73

True/False

Hank's tractor is collateral for a loan and Hank moves to the next county. In most states, the security instrument must be re-filed in the proper county or it will render the security interest ineffective.

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Definitions:

Picket Lines

Physical or symbolic boundary lines established by striking workers or protesters around a place of employment to discourage or prevent others from entering.

Lawful Picket Lines

A form of protest or labor strike where workers legally gather outside a place of work to express a grievance or enforce a demand.

Collective Bargaining

The process in which employers and the representatives of a workforce negotiate terms of employment, including wages and working conditions.

Lawful Strike

A work stoppage by employees that is authorized by law and typically follows prescribed procedures.