Identify Which of the Following Statements Is True About Secured

question 61

Multiple Choice

Identify which of the following statements is true about secured transactions in provinces having a personal property security act.

• A) This kind of transaction, which formerly was legal, is now prohibited by law in all provinces.
• B) Various kinds of secured transactions, such as conditional sales, chattel mortgages, etc., are regulated by their own distinct statutes.
• C) An assignment of an account receivable does not qualify as a security arrangement because no tangible property is involved.
• D) All kinds of security arrangements involving personal property as collateral now come under one statute.
• E) Only tangible personal property can be used as security.

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Definitions:

Acupuncture

A traditional Chinese medicine technique involving the insertion of needles into specific points on the body to alleviate pain and treat various health conditions.

Meridian Points

Points on the body used in traditional Chinese medicine through which energy flows, significant in acupuncture and acupressure treatments.

Toxic Energies

A non-scientific term often used in alternative medicine or holistic circles to describe sources of negativity that can affect one's emotional or physical health.

Placebo Effect

The phenomenon in which patients experience a perceived improvement in condition solely because they believe they are receiving treatment.