P and it shall not be necessary for sp to execute or

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Unformatted text preview: cknowledges that this Agreement is and shall be effective upon execution by the Debtor and delivery hereof to S.P., and it shall not be necessary for S.P. to execute or otherwise signify its acceptance hereof. Signed and delivered on the day first above written. _________________________(SEAL) Daniel Debtor S.P. & Assoc., Inc. (Secured Party) By: __________________________ Perfection Perfection s s s Effect – enforceable against most third parties. parties. Automatic Perfection – perfection upon attachment; applies to a purchase money security interest in consumer goods and isolated assignments of accounts. isolated Temporary Perfection – a security interest in certificated securities, instruments, and negotiable documents is automatically perfected for twenty days. perfected Methods of Perfecting Methods s s s Filing a Financing Statement – document filed to provide notice of a security interest; may be used for all collateral except deposit accounts, letter-of-credit rights, and money. accounts, Possession – by the secured party (a p...
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