Match the Following: A.The Right in Personal Property That Insures Payment or Performance

question 12

Essay

Match the following:
a.The right in personal property that insures payment or performance of an obligation.b.Making a security interest effective against third parties who assert competing interests.c.A document filed to provide notice of a security interest.d.A catch-all category of collateral not otherwise covered;includes software,goodwill,and interests in patents and copyrights.e.Tangible or electronic record that evidences both a debt and a security interest in specific goods.f.The creation of a security interest that is enforceable against the debtor.g.A dealing in which one party obtains a security interest in the personal property of another to secure the payment of a debt.h.A contract between the debtor and creditor creating a security interest in the debtor's collateral.i.Goods bought or used primarily for personal,family,or household purposes.j.The right of a surety who has paid the creditor to be repaid by the principal debtor.k.A person liable to a creditor immediately upon the default of a principal debtor.l.Interest retained either by the seller of goods or by a lender who advances the purchase price.m.The right of a surety to be relieved of his obligation to the creditor by having the principal debtor perform the obligation.n.The party primarily liable on the obligation.o.A person who promises to answer for the payment of a debt or the performance of a duty owed to the creditor by the principal debtor upon the failure of the principal debtor to perform.p.A way to begin a bankruptcy case that is available to any debtor,even if solvent.q.May be filed only under Chapter 7 or 11 if the debtor is generally not paying his undisputed debts as they become due.r.The person responsible for collecting,liquidating,and distributing the debtor's estate.s.Property subject to a security interest.t.Any entity that has a claim against the debtor.u.A claim with a lien on property of a debtor;a claim that is tied to specific property of the debtor.v.The Bankruptcy Code invalidates certain preferential transfers made before the date of bankruptcy from a debtor to favored creditors.w.An agreement between the debtor and two or more of her creditors that each will take a portion of its claim as full payment.x.Prevents attempts by creditors to recover claims against the debtor.y.A voluntary transfer by the debtor of his property to a trustee,who applies the property to the payment of all of the debtor's debts.
-absolute surety

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Definitions:

Oversimplifying Issues

The act of reducing complex problems to overly simple terms or solutions, often ignoring nuanced details and complexities.

Tradeoff

A choice in which taking or maximizing one benefit requires either accepting a cost or sacrificing another benefit.

Delay of Gratification

The act of resisting an immediate reward in preference for a later reward.

Locus of Control

A psychological concept referring to the extent to which individuals believe that they have control over the events in their lives.