An Interest in Personal Property or Fixtures That Secures Payment

question 39

Multiple Choice

An interest in personal property or fixtures that secures payment or performance of an obligation is called a(n) : ______.

• A) guaranty holding.
• B) security interest.
• C) guaranty interest.
• D) good-faith guaranty.

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Definitions:

Boxes

Containers typically made of cardboard or plastic, used for storing, transporting, or packaging items.

Secure Room

A specially designed room intended to prevent unauthorized entry and protect sensitive information or assets within.

Lids On

A phrase indicating that a container's cover is securely in place; often used metaphorically to suggest maintaining control or secrecy.

Filing Process

The method by which documents are systematically organized and stored for easy retrieval and reference.