Which of the Following Is False Regarding a Creditor's Rights

question 20

Multiple Choice

Which of the following is false regarding a creditor's rights to collateral upon a debtor's default?

• A)If a debtor defaults on a loan,the secured party can take possession of the collateral so long as the secured party does not breach the peace.
• B)Under the UCC,the secured party can sell,lease,or transfer the collateral in any commercially reasonable method.
• C)Instead of disposing of the collateral,the secured party may choose to keep the collateral in full or partial satisfaction of the debt.
• D)Regardless of where the collateral is sold,the secured party must strive to receive the best price for the collateral.
• E)A debtor in default has no rights in regard to whether collateral is retained by the secured party or sold.

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Definitions:

Fulcrum Point

The pivot point around which a lever rotates when force is applied, playing a crucial role in mechanics and bodily movements.

Location

The exact location or spot where something can be found or is located.

Adductor Longus

A muscle in the inner thigh that plays a major role in the adduction of the thigh.

Orientation

Orientation refers to the awareness of oneself in relation to time, place, and identity, often assessed in cognitive and neurological examinations.