Practice question
An amendment adds a new grantor and additional nonproceeds collateral. The filer relies solely on the first grantor’s original notice and wants priority for the additions retroactive to that original filing. Which is correct?
- Every addition automatically relates back
- No additional authorization is ever needed
- A new grantor can be bound by any stranger’s signature
- Section 32 requires the specified written authorizations and makes the additions effective from amendment registration
- Amendments are universally prohibited
Legal references
- RA 11057, Section 32: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html
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