All but Which of the Following May Be Used as Collateral

question 35

Multiple Choice

All but which of the following may be used as collateral in a secured transaction under UCC Article 9?

• A)Stocks and bonds
• B)Personal injury tort claims of individuals
• C)Intellectual property rights
• D)A computer program if, by purchasing a computer, the buyer of the computer acquires the right to use that embedded program

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Definitions:

Regulatory Controls

Mechanisms put in place by a government or regulatory body to manage operations and behaviors within industries to ensure compliance with legal standards and to protect public interest.

Unlimited Liability

A legal obligation in business where owners are personally responsible for all debts of the business, extending to their personal assets.