MN Bar Practice Questions - Minnesota Bar Examination Exam

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A lender takes a security interest in a debtor's equipment. To make the security interest enforceable against third parties such as other creditors, what must the secured party generally do under UCC Article 9?

Take physical possession in every case Record a mortgage with the county Perfect the security interest, typically by filing a financing statement Obtain a court judgment

Correct Answer:

Perfect the security interest, typically by filing a financing statement

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