Multiple Choice
Kimberly owns a company that sells industrial tools.She borrows $50,000 from a bank with her company's accounts receivable as the collateral.This means that if Kimberly defaults on the loan,the bank can reclaim the borrowed amount from her company's accounts receivable.This is an example of ________.
A) mortgage
B) foreclosure
C) mechanic's lien
D) floating lien
Correct Answer:
Verified
Correct Answer:
Verified
Q9: When a debtor defaults on a secured
Q12: Alan won a $50,000 judgment against Henderson.However,Henderson
Q13: What of the following is true about
Q15: Foreclosure sale is initiated when a debtor
Q16: Travis mortgages his house to a financing
Q17: After-acquired property refers to a property that
Q61: A _ has an ownership or other
Q63: _ is a process that establishes the
Q64: To which of the following type of
Q68: A _ is an instrument that gives