Multiple Choice
A business purchases an airplane from an airplane manufacturer.The business obtains a loan from a bank to purchase the airplane.The bank obtains a security interest in the airplane.The airplane manufacturer is paid for the airplane from of the proceeds of the loan.This is an example of a ________ transaction.
A) two-party secured
B) three-party secured
C) three-party unsecured
D) two-party unsecured
Correct Answer:
Verified
Correct Answer:
Verified
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