Debentures May Be: I. Secured by a Specific Charge Over Particular Assets

question 14

Multiple Choice

Debentures may be:
i. secured by a specific charge over particular assets.
ii. secured by a floating charge over assets.
iii. unsecured.

• A) i
• B) i, ii
• C) i, ii, iii
• D) ii, iii

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Definitions:

Holder in Due Course

A person who possesses a negotiable instrument for payment in good faith and without knowledge that it is overdue or has been dishonored.

Advanced Shipping Notice

A document sent to a customer in advance of a shipment, detailing the contents and delivery details of the forthcoming delivery.

Universal Product Code

A barcode symbology that is widely used in the United States and other countries for tracking trade items in stores.

Vendor-managed Inventory

A supply chain arrangement where the vendor is responsible for maintaining the inventory levels of their products at the buyer's premises, optimizing stock levels and reducing out-of-stocks.