Which of the following is true of perfection by possession of collateral?
A) A creditor cannot take possession of the collateral until a financing statement is filed.
B) No financing statement has to be filed if the creditor has physical possession of the collateral.
C) A debtor cannot acquire security against the collateral without filing a financing statement.
D) A financing statement can be filed only against intangible personal property placed as collateral.
B
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Which of the following contracts represents the transfer of an interest in land?
a. Sale of a wheat crop: harvest to be made by the buyer. b. Sale of a wheat crop: harvest is to be made by the seller. c. Sale of copper ore: ore is to be taken out of the ground by the buyer. d. Sale of copper ore: ore is to be taken out of the ground by the seller.
The market value of a fixed-rate liability will decrease as interest rates rise, just as the market value of a fixed-rate asset will decrease as interest rates rise.
a. true b. false