Ontario Barrister and Solicitor Practice Exam

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What searches should a lawyer conduct during PPSA registration for a bank?

Only a corporate records search
Corporate records, securities, IP, executions, and bankruptcy searches
Public records and criminal background checks
Property zoning and land use search

The correct answer is: Corporate records, securities, IP, executions, and bankruptcy searches

A Only conducting a corporate records search would not be sufficient for a lawyer to complete a PPSA registration for a bank. While it is important to gather information about the corporate entity, it is also crucial to search for any existing securities, intellectual property rights, and potential bankruptcy or legal judgments that could impact the registration process. C: Public records and criminal background checks are not directly relevant to a PPSA registration for a bank. While these searches may be necessary for other legal matters, they do not pertain to the specific requirements and considerations of a PPSA registration. D: A property zoning and land use search is not a required or relevant search for PPSA registration. This type of search is more applicable for real estate or property-related legal matters, rather than the registration process for a bank.