Which of the Following Refers to the Assets Resulting from the Exchange

question 35

Multiple Choice

Which of the following refers to the assets resulting from the exchange or disposal of collateral subject to a security agreement?

• A) sale proceeds
• B) future advances
• C) floating lien
• D) after-acquired property

---

Definitions:

Unilateral And Executed

Unilateral refers to an action or agreement made or performed by one party; executed means that the action has been completed or the agreement has been fully performed.

Implied Contract

An agreement created by actions of the parties involved rather than written or spoken words, indicating an unexpressed understanding or assumption of agreement.

Quasi-contract

A legal concept where a court imposes an obligation on a party to prevent unjust enrichment, even though no actual contract exists.

Void Contract

A contract that has no legal effect and is unenforceable from its inception due to certain legal deficiencies or violations.