Jim files a financing statement giving notice to the public that he has a secured interest in collateral belonging to Phil,who is the debtor named in the statement.The financing statement is referred to as the

Question

Quizplus · Accepted Answer

A UCC-1 form is the standard form used to file a financing statement and give notice to the public of a secured interest in collateral. It is the most commonly used form under the Uniform Commercial Code (UCC) for this purpose. Choices B and C are not standard terms or forms under the UCC, and D is a general term for a legal interest in property, but not specific to financing statements under the UCC.

Jim Files a Financing Statement Giving Notice to the Public