Hiram Is a Debtor to Central Credit Union,a Secured Party

question 12

Multiple Choice

Hiram is a debtor to Central Credit Union,a secured party.If Hiram fails to maintain insurance on the collateral,he has likely

• A)attached the security agreement.
• B)defaulted on the security agreement.
• C)terminated the security agreement.
• D)perfected the security agreement.

---

Definitions:

Tariff

A tax imposed on imported goods to regulate trade by increasing the price of foreign products.

Quantity Demanded

The actual amount of a good or service consumers are willing to buy at some specific price.

Importing Country

A country that buys goods and services from other countries for domestic consumption or use.

Tariff

A tax imposed by a government on goods and services imported from other countries, used to control trade volumes and protect domestic industries.