Multiple Choice
Under Article 9 of the UCC, a pledge is:
A) the delivery of personal property to a creditor or to a third party acting for the creditor as security for the payment of a debt.
B) a requirement that the secured party and the debtor agree to certain collateral.
C) an equipment transfer before a forced sale.
D) a form of indispensable paper.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: Payment of the debt or performance of
Q12: Temporary 20-day automatic perfection of a negotiable
Q14: Article 9 of the UCC applies to
Q17: Under the Revised Act, a debtor need
Q18: The Code's classifications of collateral according to
Q44: A buyer in the ordinary course of
Q51: If the debtor is in default and
Q54: Article 9 of the UCC is flexible,
Q78: The creditor's rights against the principal debtor
Q79: "Attachment" occurs when a secured party gives