Exam 37: Secured Transactions and Suretyship

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A debtor must sign a written security agreement for a pledge used to secure a loan.

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If a security interest has attached, it is enforceable against the debtor.

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A defense that can only be asserted by the principal debtor is called a defense.

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Inventory includes:

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A perfected security interest has priority over:

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If the principal debtor defaults, the surety has rights against the principal debtor, third parties, and cosureties.These rights would include:

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