Which of the following elements is an exception that validates a financing statement,which covers goods that are to become fixtures,without it being lapsed?
A)Name of the debtor
B)Name of the secured party
C)Description of a real estate mortgage
D)Description of a nonfixture

Question

Quizplus · Accepted Answer

A financing statement is effective for a period of five years from the date of filing,and it lapses then unless a continuation statement has been filed before that time.An exception is made for real estate mortgages that are effective as fixture filings-they are effective until the mortgage is released or terminates [UCC 9-515].

Which of the Following Elements Is an Exception That Validates