An Interest in Personal Property or Fixtures That Secures Payment

question 39

Multiple Choice

An interest in personal property or fixtures that secures payment or performance of an obligation is called a(n) : ______.

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

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Definitions:

Import Quotas

Limits set by a government on the amount or value of certain goods that can be imported into a country, usually to protect domestic industries.

Voluntary Export Restraints

These are self-imposed limits by exporting countries on the volume of their exports to a particular country, usually to avoid stricter trade barriers.

Administers

The act of managing, directing, or overseeing individuals or processes.

Tariff

A tax imposed on imported goods and services to control trade volumes, protect domestic industries, or generate revenue.