When Mark bought new office furniture on credit, Bartin's Office Supply Co. filed a financing statement. What would be required on the financing statement?
A) The trade name of Mark's business.
B) Mark's signature.
C) Mark's name and an indication of what collateral is covered by the agreement.
D) All of these would be required.

Question

Quizplus · Accepted Answer

The financing statement must include the debtor's name (in this case, Mark) and a description of the collateral covered by the agreement. The trade name of the business and the debtor's signature are not required on the financing statement for it to be valid.

When Mark Bought New Office Furniture on Credit, Bartin's Office