To Create an Enforceable Security Interest, the Collateral Must Be

question 7

True/False

To create an enforceable security interest, the collateral must be held by a neutral third party until the debt is paid.

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Definitions:

Arousal

A physiological and psychological state of being awoken or stimulated to action or response.

Biological Motives

Innate drives based on biological needs that must be met for survival, such as hunger, thirst, and the need for sleep.

Drive

An internal motivational state created by physiological or psychological needs that drives an organism to fulfill those needs.

Homeostasis

The ability of an organism or environment to maintain stability in response to changes.