In Which One of the Following Situations Is a Chose

question 13

Multiple Choice

In which one of the following situations is a chose in action (intangible property) given as security by a debtor to the creditor?

• A) A programmer pawns his computer.
• B) Mr. Jason grants a chattel mortgage on the family car to secure repayment of money borrowed for a trip.
• C) A farmer gives his future crop to the bank as security for the repayment of money borrowed for seed.
• D) A dentist assigns her accounts receivable to the bank that lent her money for the purchase of a business.
• E) Jeff buys a piano under a conditional sale contract.

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Definitions:

Terms of the Contract

The specific conditions and agreements outlined in a contract that define the obligations, rights, and duties of the parties involved.

Group Work

A collaborative process where individuals come together to achieve specified objectives, often facilitated by a guide or leader.

Diverse Population

Refers to a group of individuals with varied characteristics such as cultural, ethnic, racial, sexual orientation, and socio-economic backgrounds.

Diagnostic Term

A label or category used in healthcare and psychology to describe a specific condition or set of symptoms based on standard criteria.