Which of the Following Is True of a Collateral Note

question 13

Multiple Choice

Which of the following is true of a collateral note?

• A)The collateral cannot consist of stocks or bonds.
• B)It is a note secured by a third person's guarantee.
• C)It is a note secured by personal property.
• D)The collateral cannot consist of some tangible personal property.

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Definitions:

Innate Knowledge

Knowledge that is presumed to be inborn or natural, existing in the mind independent of experience.

Space

An expansive concept that includes physical area, distance between objects, and the universe beyond Earth.

Numbers

Symbols or expressions used to represent quantities in mathematics.

Object Permanence

The cognitive understanding that objects continue to exist even when they are out of sight, typically developed during infancy.