Which of the Following Is an Option for the Secured

question 33

Multiple Choice

Which of the following is an option for the secured creditor when the debtor defaults?

• A)Transfer the collateral on to another creditor.
• B)Forget the collateral,and sue the debtor on his note or promise to pay.
• C)Sell the collateral and keep the surplus if any.
• D)Repossess the collateral and conduct a public sale without the knowledge of the debtor.

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Definitions:

Map Sense

An innate ability or skill that helps organisms navigate through their environment, often seen in migratory animals.

Cognition

The mental processes involved in gaining and using knowledge; cognition is learning and knowing, including awareness, thinking, processing information, reasoning, and awareness of thoughts, perceptions, and self.

Clock Proteins

Molecular components that constitute the biological clock, regulating circadian rhythms in organisms by oscillating in a 24-hour cycle.

Biological Clocks

Mechanisms by which activities of organisms are adapted to regularly recurring changes in the environment. See circadian rhythm.