A Security Agreement Must

question 9

Multiple Choice

A security agreement must:

• A) identify the parties involved.
• B) contain a reasonable description of the collateral.
• C) demonstrate that the parties intended for the creditor intends to have a security interest.
• D) all of the above.

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Definitions:

Social-Cost Curve

illustrates the total cost of producing a good or service, including both private costs incurred by businesses and external costs borne by society.

Private Cost

The cost of a production activity that is directly borne by an enterprise.

Gallon

A gallon is a unit of volume measurement used primarily in the United States, equal to 3.785 liters.

Externality

An outcome from economic actions affecting external third parties not related to the activity, which could be either advantageous or detrimental.