Asked by Chris Mckibben on Jul 17, 2024
Verified
The least common way to perfect an interest is to file a financing statement with a state agency.
Financing Statement
A document filed by a creditor to indicate a security interest in the assets of a debtor, typically used in secured transactions.
State Agency
An organization or body created by the government to carry out specific functions on a state level.
- Gain insight into the process and ramifications of securing interests through perfection.
Verified Answer
MA
madonna abenojaJul 22, 2024
Final Answer :
False
Explanation :
The most common way to perfect an interest is to file a financing statement with a state agency.According to the Uniform Commercial Code,a financing statement should list the names and addresses of all the parties involved,a description of the collateral,and the signature of the debtor.
Learning Objectives
- Gain insight into the process and ramifications of securing interests through perfection.
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