A Written Instrument Giving a Creditor an Interest in the Debtor's

question 82

Multiple Choice

A written instrument giving a creditor an interest in the debtor's real property as security for a debt is called a(n)

• A) contract.
• B) agreement.
• C) mortgage.
• D) loan.

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Definitions:

Good

An item or product that is manufactured or produced for sale, often tangible, and exchanged in the marketplace.

Deposit Agreement

A legal arrangement wherein one party places an asset under the control of another party, often a financial institution, with specific terms governing its management and disposal.

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing commercial transactions in the United States.

Depositor

An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.