As a General Rule, an Oral Security Agreement Is Legally

question 25

True/False

As a general rule, an oral security agreement is legally enforceable.

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Definitions:

Provincial Youth Court

A court that deals with legal cases involving minors or young persons, typically focusing on rehabilitation rather than punishment.

Family Court

A specialized court dealing with cases that pertain to family matters such as divorce, child custody, and adoption.

Surrogate Court

A specialized court that deals with matters of probate and administration of estates.

Specific Performance

A legal remedy where a court orders a party to fulfill their obligations under a contract, rather than simply paying damages.