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Josh has bought new,more fashionable clothes;started working out at the gym;bought a new sports car;separated from his wife;and found a glamorous young girlfriend.According to the text,these are signs of which of the following?
Automatic Perfection
A provision in secured transactions law where a security interest in collateral becomes legally effective and enforceable immediately upon attachment, without additional action required.
Fixture Filing
Fixture filing is a legal claim on personal property that has been attached or fixed to real estate in a manner that it is considered part of the real property.
Mechanic's Lien
A legal claim against a property for unpaid construction work or supplies, giving the contractor a right to secure payment.
Perfected Security Interest
A legal state where a creditor has taken all necessary steps required by law to enforce a security interest against the debtor's collateral in case of default.
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