How is a security interest perfected in personal property? What is the key legal document when...

How is a security interest perfected in personal property?

What is the key legal document when it comes to perfecting a security interest in personal property by filing?

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Expert Solution

Q. 1). Answer :- For perfection of security interest, A Security agreement must be entered in between creditor and debtor. Both the partied (debtor and creditor) must have signed the agreement. Value of personal property is mentioned very clearly in agreement.

Q 2). Answer :- The important legal document is Security agreement (as mentioned in rules to Article 9 of Uniform Commercial Code).

jeff jeffy answered 1 year ago

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