Under the Secured Transactions Article of the UCC, all of the following are needed to create an enforceable security interest, except:
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A A limited partnership. B A general partnership. C A limited liability company. D A corporation.
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5 .Which of the following is included within the scope of the secured transactions article of the code?
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7 .Under the UCC Secured Transactions Article, when collateral is in a secured party's possession, which of the following conditions must also be satisfied to have attachment?
A The secured party must receive consideration. B The debtor must have rights to the collateral. C The public must be notified. D There must be a written security agreement.
8 .Under the Secured Transactions Article of the UCC, which of the following security agreements does not need to be in writing to be enforceable?
A A security agreement where the collateral is highly perishable or subject to wide price fluctuations. B A security agreement collateralizing a debt of less than USD500. C A security agreement involving a purchase money security interest. D A security agreement where the collateral is in the posses...
9 .Under the Secured Transactions Article of the UCC, which of the following items can usually be excluded from a filed original financing statement?
A The amount of the obligation secured. B The name of the debtor. C The address of the debtor. D A description of the collateral.
10 .Lisa is a limited partner in a limited partnership. Jen, one of the other limited partners, is seeking to sell her interest in the partnership to Karen and allow Karen to become a new limited partner. Which of the following statements is true?
A Jen may withdraw from the limited partnership without giving notice to the partnership. B Jen may transfer her interest and make Karen a new limited partner without the approval of the other partners. C Lisa may engage in the management of the limited partnership without losing her limited liabili...
