If Repossessed Collateral Is Sold or Otherwise Disposed of by the Creditor,then

question 5

Multiple Choice

If repossessed collateral is sold or otherwise disposed of by the creditor,then the time,place,manner,and method of disposal must be

• A)commercially reasonable.
• B)scheduled with the debtor so that the debtor is able to attend.
• C)court ordered.
• D)perfected.

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development where children begin to think logically about concrete events.

Preoperational

A stage in Piaget's theory of cognitive development (approximately ages 2-7) where children begin to use language and think symbolically, but lack logical operations.

Formal Operational

The stage in Piaget's theory of cognitive development where individuals learn to think logically about abstract concepts and hypothetical situations.

Division

A mathematical operation in which one quantity is divided by another, resulting in a quotient that shows how many times one number is contained within another.