As Security for Its Operating Line of Credit,EcoDesign Builders Inc

question 46

Multiple Choice

As security for its operating line of credit,EcoDesign Builders Inc.has given an assignment of rents for two of its apartment blocks to ImaBigBank.Why is the bank's registration of the assignment of rents considered economical?

• A) It protects creditors whether the arrangement is contractual or not.
• B) The law requires registration of property held in the possession of another.
• C) It provides a shield for the creditor's rights to the pledged property.
• D) The bank has a lack of intention to return possession to the owner.

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