Author Question: Which one of the following statements about the Personal Property Security Act is true? (Read 63 times)

vicotolentino · **on:** Aug 7, 2021

Which one of the following statements about the Personal Property Security Act is true?
◦ In a situation where a debtor fraudulently attempts to transfer property that he or she has given as security, the Act is designed to protect both the debtor and the secured creditor.
◦ If a secured creditor fails to register his or her security interest in the Personal Property Registry, he or she loses his or her rights against the debtor.
◦ Unless a creditor in a secured transaction covered by this Act takes steps to "attach and perfect" his security interest, he or she could lose that interest to someone outside the contract.
◦ If someone suspects that an item of personal property has been given as security by a particular person, he or she can sue on the breach of a condition.
◦ This legislation applies only to all present transactions where personal property is given as security interest to enforce an obligation.

Animal_Goddess · **Reply #1 on:** Aug 7, 2021

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 39% of students answer this correctly