What is a secured transaction?
What will be an ideal response?
Most lenders take a security interest in either the item purchases or some other personal property of the debtor because they are reluctant to lend large sums of money simple on the borrower's promise to repay. The property in which a security interest is taken is called collateral. When a creditor extends credit to a debtor and takes a security interest in some property of the debtor, it is called a secured transaction. If the debtor does not pay the debt, the creditor can foreclose on and recover the collateral.
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What is a participating life insurance policy?
A) Agreement that allows two or more beneficiaries to share in the death benefit B) Contract that gives beneficiaries the right to participate in any dividends C) Contract that allows the policyowner to receive a share of surplus in the form of policy dividends D) Agreement that insures two or more lives
An attribute that uniquely identifies an entity and consists of a composite attribute is called a(n):
A) composite attribute. B) composite identifier. C) identifying attribute. D) relationship identifier.