Examlex
Identify the letter of the choice that best matches the phrase or definition.
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Perfected Security Interest
A perfected security interest is a legal state where a creditor has completed all necessary steps to establish and maintain priority over other creditors concerning a debtor's asset.
Financing Statement
A document filed to give public notice of a security interest in property, used to perfect a secured creditor's interest in the collateral.
Payment Plan
An agreement to pay a debt in specified amounts over a set period.
Financing Statement
A document filed to give public notice of a security interest in collateral, used to perfect a secured party's interest under the Uniform Commercial Code.
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