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OlgaM077 [116]
3 years ago
11

Maddie enters into a secured consumer debt transaction with Friendly Bank. When Maddie pays the loan in full, Friendly Bank is r

equired to file a statement indicating that it no longer claims a secured interest in the collateral. This statement must be filed within one month from the date the debt is fully paid.
A. True
B. False
Business
1 answer:
lubasha [3.4K]3 years ago
3 0

Answer:

true

Explanation:

Before Friendly Bank handed out the loan to Maddie, it had to perfect an interest on the collateral or security of the loan, and it did it by filing a Form UCC-1.

After the loan is repaid, the bank's interest on the security ceases to exist and it must file a UCC termination statement notifying that the collateral is "free and clear".

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Explanation:

The first option, never tells what the customer gets in return.

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6 0
2 years ago
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cupoosta [38]

Answer:

Lack of competition

Explanation:

A centrally planned economy lack competitiveness. The government decides what to produce, the price, and the distribution channel. Because of these restrictions, there is no motivation for profits. Without competition, a centrally planned economy will have the following features.

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  2. Consumers will not have a variety of goods and services to choose from in the markets.
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marysya [2.9K]

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