Which of the Following Is an Option for the Secured

question 33

Multiple Choice

Which of the following is an option for the secured creditor when the debtor defaults?

• A)Transfer the collateral on to another creditor.
• B)Forget the collateral,and sue the debtor on his note or promise to pay.
• C)Sell the collateral and keep the surplus if any.
• D)Repossess the collateral and conduct a public sale without the knowledge of the debtor.

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Definitions:

Anulus Fibrosus

Fibrous material forming the outer portion of an intervertebral disk.

Nucleus Pulposus

The inner core of the vertebral disc, consisting of a jelly-like material that acts as a cushion between the spinal vertebrae.

Lamina

A thin layer, membrane, or plate of tissue, especially in bone or plant structures.

Calcaneus

The heel bone, a large bone forming the foundation of the rear part of the foot.