The Debtor in a Secured Transaction Is in Most Cases

question 21

True/False

The debtor in a secured transaction is in most cases the owner of the collateral.

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Definitions:

Presentment

The act of making a demand for the drawee to pay.

Dishonored

refers to a financial instrument, like a check, being refused by the bank upon presentation for payment due to insufficient funds or other reasons.

Endorses

The act of signing the back of a check or any other document, which signifies agreement, approval, or endorsement of its contents.

Instrument

A writing that serves as evidence of the right to payment of money.