A Secured Creditor Repossesses the Collateral from the Debtor and Sells

question 41

Multiple Choice

A secured creditor repossesses the collateral from the debtor and sells it to satisfy the debt.Which of the following has the first claim on the proceeds of the sale?

• A) Debtor
• B) Consequential damages suffered by the creditor due to the debtor's default
• C) Court costs
• D) Expenses of repossessing,storing,and selling the collateral

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