Examlex

Solved

Which of the Following Statements Is True

question 18

Multiple Choice

Which of the following statements is true?


Definitions:

Security Agreement

A legal document that provides a lender a security interest in specified assets of the borrower as collateral for a loan.

Filing

The process of submitting documents to a specified authority or organization for official review or record-keeping.

Perfects

The process of securing a legal interest or claim in collateral or property, often used in finance and legal contexts to ensure rights are enforceable.

Financing Statement

A document filed by a creditor to indicate a security interest in the debtor’s assets, used to perfect a lien.

Related Questions