In a Secured Transaction,the Creditor's Right to Payment of a Debt

question 61

Multiple Choice

In a secured transaction,the creditor's right to payment of a debt may be secured by his taking title to certain assets.In which one of the following types of transactions do those assets consist entirely of intangible property?

• A) chattel mortgage
• B) assignment of book accounts
• C) A debenture issued by a manufacturing firm with a floating charge over its inventory of products.
• D) A sale of goods in which the buyer will obtain title when he finishes paying the price in installments.
• E) A transaction under section 427 of the Bank Act, whereby a bank takes security over a farmer's growing crops with respect to a loan to purchase the seed and fertilizer necessary to grow those crops.

---

Definitions:

Bereavement

The state of loss and grief experienced following the death of a loved one.

Stage Theory

A psychological theory suggesting that development occurs in distinct phases or stages, each with unique characteristics.

Grief

An emotional response to loss, encompassing a range of feelings from deep sadness to anger, which can affect one's physical, emotional, and mental health.

Bereaved Friend

Someone who is experiencing grief and mourning due to the death of a loved one.