Samson Dsouza Submits a Financing Statement in the Year 2000

question 17

Multiple Choice

Samson Dsouza submits a financing statement in the year 2000 to perfect his security interest against Kevin.Later in the year 2006,Samson tries to attach the security interest in the property.Will Samson succeed in the attachment of the security interest?

• A) Samson will succeed since he has filed his financing statement.
• B) Samson will not succeed as the financing statement has lapsed.
• C) Samson may enforce his security interest by filing continuation statement.
• D) The security interest will automatically be enforced.

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Definitions:

Work

An activity involving mental or physical effort done in order to achieve a purpose or result.

Career

A long-term professional journey that an individual embarks on, which often includes changes in jobs, learning new skills, and progressing in job roles.

Job

Employment, typically a role performed by an individual in exchange for payment.

Money

A medium of exchange used to facilitate the sale, purchase, or trade of goods and services, acting as a unit of account, a store of value, and sometimes, a standard of deferred payment.