Which of the Following Is Not One of the Basic

question 79

Multiple Choice

Which of the following is not one of the basic requirements for a security interest to be attached to the goods of a debtor?

• A)The debtor must be a bona fide purchaser.
• B)Either there must be an agreement by the debtor granting the creditor a security interest in particular property or the secured party must have possession of the property.
• C)The creditor must give something of value to the debtor.
• D)The debtor must have rights in the collateral or the owner of the collateral must agree to allow its use as collateral.

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Definitions:

Representativeness Heuristic

A mental shortcut that involves making a probability judgment by comparing an object or event to a prototype of the object or event.

Availability Heuristic

A cognitive bias that causes people to overestimate the importance of information that is readily available to them.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, known also as the "I-knew-it-all-along" effect.

Confirmation Bias

The tendency to favor, interpret, and recall information in a way that confirms one's preexisting beliefs or hypotheses.