Downward Communication Conveys

question 44

Multiple Choice

Downward communication conveys

• A)information about procedures and methods.
• B)explanations of decisions and orders.
• C)complaints.
• D)status reports.
• E)policy questions.

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Definitions:

Security Agreement

A written agreement that creates a security interest.

Purchase Money Security Interest (PMSI)

A special type of security interest that allows creditors to obtain priority in a debtor's collateral, provided the credit was used to purchase the collateral.

Perfected

The state of a security interest when the secured party has done everything that the law requires to give the secured party greater rights to the goods than others have.

Attaches

In legal parlance, attaches means to legally seize or take control of property, often in the context of securing a debt or executing a court order.