Whatever a Secured Party Obtains on a Sale of Collateral

question 53

True/False

Whatever a secured party obtains on a sale of collateral is all that he or she can collect on the debt.

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Definitions:

Mining Accident

An accident that occurs during the process of mining minerals, which can result in injuries, fatalities, and environmental damage.

Intravenous Pyelogram

A radiographic imaging technique that involves the injection of a contrast dye into the bloodstream to visualize the kidneys, ureters, and bladder.

Iodine Allergy

An adverse reaction to iodine, a chemical element that is commonly used in medical imaging and antiseptics.

Tumor Tissue

The mass of cells comprising a tumor, characterized by abnormal growth and division, which may be benign or malignant.