A(n)________ refers to a document filed by a secured creditor with the appropriate government office that constructively notifies the world of his or her security interest in personal property.
A)security disclosure
B)financing statement
C)possession statement
D)custodial statement

Question

Quizplus · Accepted Answer

A financing statement is a legal document that is filed with the appropriate government office to provide notice to the public that a secured creditor has an interest in personal property. It is also known as a UCC-1 filing, referring to the Uniform Commercial Code that governs these transactions.

A(n)________ Refers to a Document Filed by a Secured Creditor