In Most States, __________ Provides That a Security Interest in a Non-Inventory

question 46

Multiple Choice

In most states, __________ provides that a security interest in a non-inventory motor vehicle must be noted on the vehicle title registration.

• A) a non-Code statute
• B) UCC Article 2
• C) UCC Article 9
• D) judicial precedent

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, giving holders voting rights and a share in the company's profits via dividends.

Transfer of Assets

The act of moving ownership of assets from one party to another, which could involve selling, gifting, or exchanging.

Ledger

A book or collection of financial accounts where all transaction records for a business are maintained.

Specific Asset

An identifiable and tangible asset that is required or utilized for a particular function or project.