Multiple Choice
Which of the following is an option for the secured creditor when the debtor defaults?
A) Transfer the collateral on to another creditor.
B) Forget the collateral,and sue the debtor on his note or promise to pay.
C) Sell the collateral and keep the surplus if any.
D) Repossess the collateral and conduct a public sale without the knowledge of the debtor.
Correct Answer:
Verified
Correct Answer:
Verified
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