All but Which of the Following May Be Used as Collateral

question 31

Multiple Choice

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

• A) Bank deposit accounts.
• B) Personal injury tort claims of individuals.
• C) Tort claims of a corporation.
• D) A computer program if, by purchasing a computer, the buyer of the computer acquires the right to use that embedded program.
• E) Both b and c.

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Definitions:

Social Issues

Pertains to problems that influence a considerable number of individuals within a society, often recognized as needing communal efforts for resolution.

Landrum-Griffin Act

A United States federal law aimed at regulating labor unions’ internal affairs and their officials’ relationships with employers.

Annual Financial Statements

Comprehensive reports detailing a company's financial performance, status, and cash flows over a fiscal year.

Department of Labor

A branch of the U.S. government responsible for occupational safety, wage standards, unemployment insurance benefits, reemployment services, and some economic statistics.