If the Debtor Defaults on His Agreement with the Creditor,the

question 45

True/False

If the debtor defaults on his agreement with the creditor,the creditor repossesses the collateral,and the creditor then sells the collateral.However,the creditor may also retain any surplus if the amount realized on the sale exceeds the amount of the debtor's debt.

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Definitions:

Contact Lenses

Thin lenses placed directly on the surface of the eyes to correct vision or for cosmetic purposes.

Disposable Lenses

Contact lenses that are designed to be used once and then discarded, promoting hygiene and convenience.

Tap Water

Water supplied through pipes from a local water system, considered potable in many regions but not sterile.

Bleach

A chemical compound used for whitening or disinfecting, often comprised of sodium hypochlorite.