Under the UCC, to Avoid the Problem of Constantly Issuing

question 483

Multiple Choice

Under the UCC, to avoid the problem of constantly issuing new financing contracts every time a business buys more inventory from a supplier, the parties may use:

• A) a priority interest
• B) a tangible property lien
• C) a floating lien
• D) a perfected lien
• E) none of the other choices

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Definitions:

Action Potential

A rapid rise and subsequent fall in voltage or electrical charge across a cellular membrane, signaling between neurons.

Axon Terminals

The distal terminations of the branches of an axon, responsible for releasing neurotransmitters to signal adjacent neurons.

Parasympathetic

Part of the autonomic nervous system responsible for rest and digest functions, counterbalancing the fight-or-flight responses.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, enabling communication between the brain, spinal cord, and other areas.