Intangible Personal Property Cannot Be Used as Collateral for a Security

question 57

True/False

Intangible personal property cannot be used as collateral for a security agreement.

---

Definitions:

Letter To The Editor

A written form of communication sent to a publication about issues of concern from its readers.

Nonprofit Organization

An organization dedicated to furthering a particular social cause or advocating for a shared point of interest, not distributing profits to its members or directors.

Advocating

The act of supporting or arguing in favor of a particular cause, policy, or interest to influence public opinion or policy.

Lobbying Effort

The act of attempting to influence the decisions made by officials in the government, usually by different lobbying groups or individual lobbyists.