A Contract in Which a Business Selling an Asset on Credit

question 44

Multiple Choice

A contract in which a business selling an asset on credit gets a security interest in that asset (the collateral) , protecting its legal rights in case the buyer fails to pay, is a ________.

• A)lockbox
• B)classic collection blunder
• C)way to protect the buyer
• D)security agreement

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Definitions:

Instrumental Value

The value assigned to something based on its utility or means to achieve an end, rather than its intrinsic worth.

Self-Control

The ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.

Honesty

The quality of being truthful, transparent, and free of deceit in one’s actions and communications.

Key Stress Symptom

A primary or significant sign indicating the presence of stress in an individual.