The two-step process for obtaining an enforceable security interest consists of attachment and perfection.

Security Interest

A legal claim or right granted over an asset to secure the performance of an obligation, typically the repayment of a loan.

Enforceable Security

A financial instrument or an interest in property that can be legally upheld and enforced in a court of law.

Attachment

A legal process by which a court orders the seizure of property to secure the satisfaction of a judgment or as a means of obtaining jurisdiction.

Understand the process and requirements for obtaining an enforceable security interest, including attachment and perfection.

Verified Answer

Final Answer :

True

Explanation :

Obtaining an enforceable security interest is a two-step process-attachment and perfection.

Learning Objectives

Understand the process and requirements for obtaining an enforceable security interest, including attachment and perfection.