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Before Deciding Which Car to Buy, Suzanne Arrived at a Final

question 1

Multiple Choice

Before deciding which car to buy, Suzanne arrived at a final set of brand choices and compared them based on her needs. Which of the following stages of the consumer buying process did she go through?

Definitions:

Collateral

An asset offered by a borrower to secure a loan or other credit, which the lender can seize if the loan is not repaid.

Future Advances

Money or other value provided to a debtor by a creditor subsequent to the time a security interest in the debtor’s collateral is taken by that creditor.

Financing Statement

A legal document filed under the Uniform Commercial Code (UCC) that secures a creditor's interest in the debtor's collateral, making the security interest public record.

Implied Notice

A legal concept that suggests an individual should have known a fact due to circumstances or the fact it was obvious, even if not formally notified.