A security interest is said to attach once three of the following requirements are fulfilled. Which of the following is NOT one of the three necessary requirements?

Question

Quizplus · Accepted Answer

A security interest is said to attach (1) once the secured party has given something of value, (2) the debtor has rights in the collateral, and (3) either the collateral is in the possession of the secured party or the security agreement is in a writing which contains a description of the collateral and is signed by the debtor. A creditor will have to file a financing statement signed by the debtor if he wants to perfect his security interest.

A Security Interest Is Said to Attach Once Three of the Following