Fact Pattern 20-2

question 71

Multiple Choice

Fact Pattern 20-2
Technical Support Corporation uses its office equipment as collat?eral for a loan from United Bank.The bank files a financing statement with the secretary of state in the state in which Technical Support was chartered.One year later,Technical Support changes its name to Vector,Inc.
-Refer to Fact Pattern 20-2.To continue the effectiveness of its original fil?ing,United Bank must

• A)file a continuation statement after the original filing expires.
• B)file a continuation statement before the original filing expires.
• C)file a new financing statement within four months of the name change.
• D)repossess the equipment that served as collateral for the loan.

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Definitions:

Skills

Abilities or expertise which can be developed through practice and learning.

Knowledge

The understanding, awareness, or familiarity gained through experience or education.

PAIBOC Analysis

A method used in business communication to assess the Purpose, Audience, Information, Benefits, Objections, and Context of a message or strategy.

Purpose

The reason for which something is done or created or for which something exists.