Under the revised Article 9 of the Uniform Commercial Code:
A) the debtor is required to sign a security agreement to create an enforceable interest in the collateral that supports the loan obligation.
B) the security interest in the after-acquired property cannot attach to that property until the debtor obtains some property rights in the new property.
C) the creditor cannot use the collateral to protect his interest in repayment of the money advanced to the debtor by covering future advances.
D) the creditor is not allowed to file an "authenticated record" in substitution for a paper "financing statement" using e-commerce applications.
Correct Answer:
Verified
Q4: Documents of title include:
A) stock and bonds.
B)
Q16: The agreement between the creditor and the
Q19: Change of possession of commercial collateral from
Q20: A creditor can perfect a security interest
Q20: A conditional sales contract is an example
Q22: Milt borrowed $200 from Anne.He promised to
Q22: Obtaining a security interest enforceable against third
Q23: Change of possession is:
A)the most common way
Q24: A security interest in money can be
Q25: A perfected purchase money security interest in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents