The Term ________ Refers to a Secured Creditor's Possession of Collateral

question 67

Multiple Choice

The term ________ refers to a secured creditor's possession of collateral on a debtor's default and proposal to retain the collateral in satisfaction of the debtor's obligation.

• A) repossession
• B) disposal of the goods
• C) disposing of collateral
• D) retaining the collateral

---

Definitions:

Repairs

The act of fixing or restoring something that is damaged, broken, or not functioning properly.

Title Examinations

A process in real estate transactions that reviews and verifies the legality of a property's title to ensure it is free from claims or liens.

Environmental Contaminants

Substances introduced into the environment that cause harm or discomfort to the ecosystems or organisms living there.

Zoning Authorities

Local government agencies responsible for defining and enforcing land use regulations within their jurisdictions.