Practice question
What effect does perfection have under Section 11?
- It gives the creditor ownership of every asset
- It makes the security interest effective against third parties
- It erases the secured obligation
- It makes every competing claim criminal
- It necessarily cancels every prior interest
Legal references
- RA 11057, Section 11: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html
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