________ is defined as the series of legal steps taken by a secured party to protect its rights in the collateral from other creditors who wish to have their debts satisfied through the same collateral.
A) Perfection
B) Filing
C) Noticing
D) Financing noticing
E) Arrangement

Question

Quizplus · Accepted Answer

Perfection is the legal process that a secured party undergoes to protect its interest in the collateral against claims from other creditors. This often involves publicly filing a financing statement to give notice of its interest.

________ Is Defined as the Series of Legal Steps Taken