The legal process by which a secured party protects against the claims of third parties who wish to have their debts satisfied out of the same property of the debtor is perfection .

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Manisha Bodhanki · Accepted Answer

Final Answer : True, Explanation :  Perfection is the legal process that a secured party uses to protect its interest in the debtor's collateral against claims from other parties. This is typically achieved by filing a financing statement or taking possession of the collateral.

The legal process by which a secured party protects against the claims of third parties who wish to have their debts satisfied out of the same property of the debtor is perfection .

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