One way a creditor can perfect a security interest is _____________ . a. by filing a...

One way a creditor can perfect a security interest is _____________ .

	a.	by filing a UCC-1 with the correct government office (in Texas, the Secretary of State).
	b.	by creating a Purchase Money Security Interest which perfects automatically.
	c.	all of the answers are ways a creditor can perfect a security interest.
	d.	by the secured party taking possession of the debtor’s collateral.

Solutions

Expert Solution

Answer : C. All of the answers are ways a creditor can perfect a security interest.

Explanation : Creditor may perfect a security interest by filing a financial statement, taking control of collateral and automatically, retaining possession, while taking control temporarily as specified by UCC.

keosha answered 1 year ago

Next > < Previous

Related Solutions

1) If you are a creditor, should you perfect your security interest and why? 2) What...

1) If you are a creditor, should you perfect your security interest and why? 2) What if there are two perfected security interests on the same property? Which interest comes first? 3) What is the automatic stay in bankruptcy?

There is no one perfect public relations process, or model, to use the same way all...

There is no one perfect public relations process, or model, to use the same way all the time with every organization. Discuss why or why not?

How are autopolyploids different from allopolyploids? Describe one way autopolyploids can be formed and one way...

How are autopolyploids different from allopolyploids? Describe one way autopolyploids can be formed and one way allopolyploids can be formed.

8- Which of the following is NOT one of the ways in which a creditor may...

8- Which of the following is NOT one of the ways in which a creditor may perfect a security interest in the collateral? Filing a financing statement. All of these are ways a creditor may perfect a security interest in the collateral. Filing a termination statement. Taking possession of the collateral 9- Consumer goods, equipment and inventory are all examples of ____________ personal property. tangible retained intangible unsecured 10- When an employer treats an entire group of people less favorably...

IT/IS security culture can be described as the way we do things around here. What contributes...

IT/IS security culture can be described as the way we do things around here. What contributes to a company's IT/IS culture?

IT/IS security culture can be described as the way we do things around here. What contributes...

IT/IS security culture can be described as the way we do things around here. What contributes to a company's IT/IS culture?

14. How can a country be considered a creditor nation? What problems can such a distinction...

14. How can a country be considered a creditor nation? What problems can such a distinction case? 12. what are Special Drawing Rights (SDRs)?

If the corporation owes a creditor P=9,000 secured by inventory that is expected to realize $7,000, how much can the creditor expect to receive on this claim?

A manufacturing firm has found itself in financial difficulty and may file for bankruptcy. Its statement of affairs reflects the following summarized information: Book value of assets $700,000 Net realizable value of assets 370,000 Total liabilities 400,000 Secured claims 250,000 Unsecured claims with priority 30,000 If the corporation owes a creditor P=9,000 secured by inventory that is expected to realize $7,000, how much can the creditor expect to receive on this claim?

How do interest rates affect our lives? Interest rates are one way to express the price,...

How do interest rates affect our lives? Interest rates are one way to express the price, or cost, of money obtained from someone else. For example, your credit card lends you money every time you make a purchase. Think about how interest rates affect your personal financial behavior with regard to spending and saving. Think also about the relationship between changing interest rates and longer-term interest-bearing securities (bonds, mortgages, etc.), and how interest rates affect our lives in general. Answer...

Can you name an advantage two-way anova has over a one-way anova?

Subjects