The Most Common Way of Perfecting a Security Interest Is

question 44

Multiple Choice

The most common way of perfecting a security interest is by:

• A) automatic perfection.
• B) filing a financing statement.
• C) taking possession of the collateral.
• D) mere attachment of the security interest.

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Definitions:

Informal Note

A casual or unofficial piece of writing used for personal communication or reminders.

Confidential

Being prudent and conscious, revealed in confidence; secret information—especially in regard to speech.

Secure

To make something safe from threats or to ensure its safety.

Independent Clauses

Sentences or clause types that can stand alone as a complete thought because they have both a subject and a predicate.