Identify Which of the Following Statements Is True About Secured

question 103

Multiple Choice

Identify which of the following statements is true about secured transactions in provinces having a personal property security act.

• A)Various kinds of secured transactions,such as conditional sales,chattel mortgages,etc.,are regulated by their own distinct statutes.
• B)All kinds of security arrangements involving personal property as collateral now come under one statute.
• C)An assignment of an account receivable does not qualify as a security arrangement because no tangible property is involved.
• D)This kind of transaction,which formerly was legal,is now prohibited by law in all provinces.
• E)Only tangible personal property can be used as security.

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Definitions:

Traditional View

A perspective or theory that is widely accepted or held for a long time, often contrasted with more modern or revolutionary approaches.

Existential Import

Pertains to the assumption within a proposition or statement that the subjects mentioned have actual existence or presence in reality.

Categorical Syllogism

A form of logical argument that applies deductive reasoning to come to a conclusion based on two premises that are asserted or assumed to be true.

Goodness Of Fit

Appropriateness of environmental demands and constraints to a child’s temperament.