Explain how the 1998 Revisions to Article 9 facilitate electronic filing of a financing statement
The 1998 Revisions to Article 9 no longer require the debtor's signature on the financing statement in order to facilitate paperless or electronic filing. Since a signature is not required, the Revisions attempt to deter unauthorized filings by imposing statutory damages of $500 in addition to damages for any loss caused. The Revisions continue a system of "notice filing" and authorize and encourage filing financing statements electronically. The financing statement need not be highly detailed and minor errors will not render the financing statement ineffective.
You might also like to view...
Which of the following internal control activities could best prevent direct labor from being charged to manufacturing overhead?
A. Reconciliation of the unfinished job summary and production cost records. B. Comparison of period costs budgets and time sheets. C. Comparison of daily journal entries with the factory labor summary. D. Reconciliation of work in process inventory with cost records.
Which of the following is the basic purpose for making exceptions to the Uniform Commercial Code's general rules on "buyers in the ordinary course of business"?
A. To protect those who innocently buy from merchants, thereby promoting confidence in such commercial transactions B. To promote commerce by giving buyers the knowledge that they will get good value for goods that they purchase C. To place the burden of loss on the good faith purchasers D. To protect the rights of sellers
Calculate the NPV and IRR for the proposed Pathrite system. Can Eloise make a compelling case for the investment?
What will be an ideal response?
Ron is facing a number of tight deadlines at work and does not feel that he can meet them. He feels insecure and unable to do his job, and this had led to feelings of helplessness and desperation. Ron is experiencing distress.
Answer the following statement true (T) or false (F)