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:

Set-Point Concept

The idea that physiological systems regulate variables at a specific set level, maintaining homeostasis.

Hypothalamus

A small structure beneath the thalamus, involved in the control of eating, drinking, and emotional behavior.

Muscle Tissue

A body tissue composed of fibers that contract to produce movement or maintain posture.

Plump

Having a full, rounded shape; often used to describe a slightly overweight or well-nourished appearance.