The payment of Paul's debt to Ryan is guaranteed by Paul's 2002 Honda Civic.Ryan filed the financing statement on July 1,2014.If Ryan does nothing else,the financing statement will be effective until

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC) Article 9, a financing statement can remain effective for up to five years from the date of filing. Since Ryan filed the financing statement on July 1, 2014, it will remain effective for five years until July 1, 2019, unless Ryan takes further action to either terminate or continue the filing. Therefore, option C) July 1, 2019, is the correct answer.

The Payment of Paul's Debt to Ryan Is Guaranteed by Paul's