The Code Provides

question 47

Multiple Choice

The Code provides:

• A)parties to a security agreement have a great deal of freedom in drafting their agreement.
• B)security agreements may not contain a provision for acceleration, at the secured party's option, of all payments upon default in any payment by the debtor.
• C)that if the secured party becomes insecure about the prospects of future payments, the only recourse is to require the debtor to name a surety for the remaining debt.
• D)a security agreement may describe the collateral as "all my personal property."

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