____________________ Is Anything You Can See or Hear, Including Text

question 64

Short Answer

____________________ is anything you can see or hear, including text, pictures, audio/sound, videos, films, or animations.

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Definitions:

Possession

The state or fact of owning, having, or controlling something.

Secured Party

A lender, seller, or any other person in whose favor there is a security interest, including a person to whom accounts or chattel paper has been sold.

Collateral

Assets pledged by a borrower to secure a loan or ensure repayment, which can be seized by the lender in the event of default.

Financing Statement

A document prepared by a secured creditor and filed with the appropriate government official to give notice to the public that the creditor claims an interest in collateral belonging to the debtor named in the statement. The financing statement must contain the names and addresses of both the debtor and the creditor, and describe the collateral by type or item.