Which of the Following Is NOT True Regarding Remedies for Default

question 13

Multiple Choice

Which of the following is NOT true regarding remedies for default of a security agreement?

• A) After default, the secured party has the right to take possession of the collateral so long as judicial process is followed.
• B) After properly taking possession of the property, the secured party may then dispose of the collateral at a public or private sale.
• C) If there is a surplus from the sale of collateral, the secured parry is required to return it to the debtor.
• D) If there is a deficiency from the sale of collateral, the debtor remains liable for that amount

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Definitions:

Strong Stimulus

A powerful environmental input that has the potential to provoke a significant response.

Action Potential

A sudden change in electrical charge across a neuron's membrane, allowing it to transmit a nerve impulse.

Neurons

Specialized cells within the nervous system that transmit information to other nerve cells, muscle, or gland cells.

Axon Membrane

The lipid bilayer covering the axon of a neuron that facilitates the conduction of electrical impulses.