A(n) __________ statement is a document, which may be requested by a paid-up debtor, stating that a security interest is no longer claimed under the specified financing statement.
A) execution
B) discharge
C) termination
D) hold harmless

Question

Quizplus · Accepted Answer

A termination statement is a document that is filed to terminate a financing statement that has been previously filed on behalf of a secured party. It serves as evidence that no security interest exists in the described collateral. The filing of a termination statement releases the secured party's interest in the collateral and ends their rights to it.

A(n) __________ Statement Is a Document, Which May Be Requested