Philippine Bar review · Question

Practice question: Registration of Notice of Security Interest

Multiple Choice Medium

Practice question

A notice cannot be retrieved by searching the correct grantor identifier. The creditor argues that the wrong identifier is harmless in every case. Which is correct?
  1. Section 30(d) makes the notice ineffective with respect to that grantor in the stated situation
  2. Every typing error is legally irrelevant
  3. The grantor must change identity to match the filing
  4. A creditor’s good intentions supply the missing retrieval
  5. Only the collateral’s color matters

Legal references

  • RA 11057, Sections 30(d) and 31: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html

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