An Interest in Personal Property or Fixtures That Secures Payment

question 45

Multiple Choice

An interest in personal property or fixtures that secures payment or performance of an obligation is called a:

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

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Definitions:

Distressing

Refers to causing anxiety, sorrow, or pain; upsetting.

Elderly Parents

Older adults, often in their retirement years, who may require support or care from their children or caregivers.

Get Along

To have a harmonious or friendly relationship.

Filial Maturity

The stage in life where an individual reaches a level of maturity that allows them to form reciprocal, adult relationships with their parents.