Which of the Following Is False Regarding a Creditor's Rights

question 54

Multiple Choice

Which of the following is false regarding a creditor's rights to collateral upon a debtor's default?

• A) If a debtor defaults on a loan, the secured party can take possession of the collateral so long as the secured party does not breach the peace.
• B) Under the UCC, the secured party can sell, lease, or transfer the collateral in any commercially reasonable method.
• C) Regardless of where the collateral is sold, the secured party must strive to receive the best price for the collateral.
• D) Instead of disposing of the collateral, the secured party may choose to keep the collateral in full or partial satisfaction of the debt.
• E) A debtor in default has no rights in regard to whether collateral is retained by the secured party or sold.

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Definitions:

Spiritual Connectedness

A sense of belonging and closeness to a higher power, the self, others, and the environment, often associated with well-being.

Spiritual Perspective

A Spiritual Perspective encompasses beliefs, practices, and values related to understanding life, existence, and the universe beyond materialistic viewpoints.

Functional Performance

The capability to perform tasks or activities that support the role and daily life activities of an individual.

Physical Mobility

The ability to move the body easily and efficiently in the environment, often focusing on the physical capacity for movement and exercise.