Matt Loaned Money to Josh and Received a Signed Security

question 25

Multiple Choice

Matt loaned money to Josh and received a signed security agreement from Josh.To make sure he has priority as a creditor,Matt could

• A) give the security agreement to his attorney.
• B) do nothing-the date of signing gives Matt priority.
• C) file the security agreement in a security deposit box.
• D) take possession of the collateral.

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Definitions:

Distressing Situation

An event or circumstance that causes anxiety, sorrow, or pain, often triggering emotional or psychological stress.

Presence

The state or fact of existing, occurring, or being present in a place or thing.

Self-Employed

A person who works for themselves and does not receive a salary from an employer, but instead earns income directly from their business or profession.

Work Settings

Work settings refer to the physical and social environments in which individuals carry out their job duties, including the organizational culture and structural aspects.