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Which of the Following Is True

Question 24

Multiple Choice

Which of the following is true?


A) The creditor is generally not entitled to obtain a deficiency judgment where the collateral is goods, even if their sale does not cover the amount owed on the underlying debt.
B) The right of redemption for collateral extends until a reasonable time after its disposal.
C) To exercise the right of redemption, the debtor must not only pay the amount owed, but also all expenses reasonably incurred by the secured party in retaking and holding the collateral, and any attorney's fees and legal expenses provided for in the security agreement and not prohibited by law.
D) Deficiency judgments are generally against public policy, unless reasonable in amount.
E) Redemption rights are not available for personal property.

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