If the Debtor Is in Default and the Secured Party

question 51

True/False

If the debtor is in default and the secured party wants to repossess the collateral in order to sell it, he must get a court order to do so.

---

Definitions:

Criminal Law

A body of laws that relates to crime and provides regulations for conduct deemed harmful, threatening, or otherwise endangering to the property, health, safety, and moral welfare of people.

Civil Law

A legal system focused on resolving disputes between individuals or entities and involves personal matters, excluding criminal proceedings.

Criminal Laws

Laws pertaining to crimes and their punishment, focusing on offenses against the state or society as a whole.

Public

The general populace or community at large, often in the context of societal or governmental matters.