A Security Agreement Must Be Backed by a Written Record

question 32

True/False

A security agreement must be backed by a written record even if the creditor has possession of the collateral.

---

Definitions:

Personal

Relating to or affecting a particular person as opposed to anyone else; individual or private in nature.

Social

Pertaining to society or its organization; denotes the interaction of individuals within a community or groups.

Perception

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Meaningful Picture

An image that conveys a significant message or emotion to its viewer.