Which of the Following Is True About Financing Statements

question 72

Multiple Choice

Which of the following is true about financing statements?

• A)A financing statement never includes descriptions of the real estate.
• B)A financing statement serves as implied notice to the world.
• C)A financing statement is effective for a period of three years from the date of filing.
• D)A financing statement must give the name of the secured party.

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Definitions:

Punitive Damages

Financial compensation awarded to an injured party, beyond actual damages, intended to punish the wrongdoer.

Compensate

To provide something, usually money, to someone in recognition of loss, suffering, or injury incurred; to make up for something unwelcome or unpleasant.

Victims

Individuals or entities who suffer harm or loss due to another's actions or events beyond their control.

Invasion of Privacy

Unauthorized intrusion into the personal life of another, without just cause, which can give the person whose privacy has been invaded a right to bring a lawsuit.