In Hamilton,Ontario,Ione Has Defaulted on Her Credit and the Secured

question 8

Multiple Choice

In Hamilton,Ontario,Ione has defaulted on her credit and the secured party is now looking to collect on the security agreement.As per the security agreement,she has 30 days to remedy the default.Which of the following is true?

• A)Ione has to hand over the collateral and has 30 days to repay the credit and get the collateral back.
• B)After the creditor has seized the collateral,Ione can redeem the collateral by satisfying the debt.
• C)Once the creditor has seized the collateral,they can use it before the debt is repaid.
• D)If the collateral is sold,the proceeds always cover the debt.
• E)Once she defaults,Ione has no way of recovering the collateral.

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Definitions:

Negative Real Number

Any real number that is less than zero, found to the left of zero on the number line.

Greatest Common Monomial Factor

The highest monomial that divides evenly into each term of an algebraic expression.

Factor By Grouping

A method for factoring polynomials that involves grouping terms with common factors and then factoring out those common factors.

Common Binomial Factor

A binomial that is a factor of two or more polynomials.