If the Proceeds of Sale of Collateral Are Not Sufficient

question 13

Multiple Choice

If the proceeds of sale of collateral are not sufficient to satisfy the debt, then the creditor is usually entitled to a:

• A) future advance.
• B) deficiency judgment.
• C) fixture filing.
• D) warehousing arrangement.

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Definitions:

Quality Control

The process of ensuring that products and services meet specified standards and satisfying customer requirements through consistent monitoring and evaluation.

Ocular Lens

The Ocular Lens, or eye lens, is a transparent structure in the eye that helps to refract light to be focused on the retina, allowing for clear vision.

Substage

In microscopy, a component part of the microscope's stage that allows for adjustments, such as altering the intensity of light, to enhance the visualization of specimens.

Shutter or Diaphragm

Mechanical device in a camera that controls the duration and amount of light that reaches the film or sensor, crucial for exposure.