Which of the Following Elements Must Exist for There to Be

question 37

Multiple Choice

Which of the following elements must exist for there to be a valid,enforceable security agreement?

• A) a written security agreement
• B) the creditor must give value to the debtor
• C) the debtor must have an interest in the collateral
• D) A,B,and C
• E) B and C only

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Definitions:

Private Ownership

Private ownership denotes the legal right of individuals or entities to own property or businesses, as opposed to ownership by the government or public bodies.

Public Ownership

The state or condition where assets are owned by the government or a public entity, rather than by private individuals or companies.

Antitrust Laws

Legislation enacted to prevent new monopolies from forming and police those that already exist to protect consumers from predatory business practices.

Fair Return Price

A pricing concept where the price of a good or service is set to allow the provider to cover costs and earn a reasonable profit, often associated with regulated industries.