What Occurs When a Secured Party Takes Back Collateral Because

question 4

Multiple Choice

What occurs when a secured party takes back collateral because the debtor has failed to make payments when due?

• A)repossession
• B)default
• C)authentication
• D)perfection

---

Definitions:

Tabula Rasa

A philosophical theory that individuals are born without built-in mental content and that all knowledge comes from experience or perception.

John Locke

A 17th-century English philosopher and physician, considered one of the most influential of Enlightenment thinkers and known as the "Father of Liberalism."

Historical Eras

Designates distinct periods of human history, each characterized by unique developments in culture, technology, and social structure.

Miniature Adults

An outdated concept regarding children as small adults capable of taking on adult responsibilities and rational thinking.