Automatic perfection means that:
A) no financing statement need be filed.
B) no agreement need be made between the debtor and the secured party.
C) no value need be advanced.
D) All of these are true about automatic perfection.

Question

Quizplus · Accepted Answer

Automatic perfection occurs in specific situations where a security interest becomes perfected automatically upon attachment without the need for filing a financing statement. This does not eliminate the need for an agreement between the debtor and the secured party or the advancement of value, which are requirements for the attachment of the security interest.

Automatic Perfection Means That