____________________ Unneeded Records Reduces the Size of Files, Thereby Freeing

question 115

Short Answer

____________________ unneeded records reduces the size of files, thereby freeing up storage space.

---

Definitions:

Public Filing

The process of submitting financial documents and other important corporate information to a regulatory authority for public disclosure.

Financing Statement

A document filed to give public notice of a secured transaction, typically in relation to personal property, establishing a priority interest in the property for the creditor.

Constructive Notice

Notice presumed by law that an individual should have known, often through the public recording of documents, even if they were unaware.

Perfect Security Interest

An interest that is legally protected and established in a way that no other claimant can have a higher claim upon the collateral in question.