Which One of the Following Requires Permission from the Security

question 31

Multiple Choice

Which one of the following requires permission from the security holder before the item(s) used as collateral can be sold?

• A)chattel mortgage
• B)pledge
• C)real estate mortgage
• D)stock-in-trade
• E)floating charges

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Definitions:

52-Card Deck

A standard deck of playing cards used in many card games, consisting of four suits: hearts, diamonds, clubs, and spades, each with 13 ranks from Ace through King.

Draw

To produce a picture or diagram by making lines and marks on paper with a pencil, pen, etc., or within the context of games, a result in which opponents finish with equal scores.

Spades

A suit in a standard deck of playing cards, identified by its black, pointed leaf shape symbol.

Dealt

Distributed or administered in a specific manner.