Identify Which of the Following Statements Is True About Secured

question 14

Multiple Choice

Identify which of the following statements is true about secured transactions in provinces having a personal property security act.

• A)All kinds of security arrangements involving personal property as collateral now come under one statute.
• B)Only tangible personal property can be used as security.
• C)An assignment of an account receivable does not qualify as a security arrangement because no tangible property is involved.
• D)Various kinds of secured transactions,such as conditional sales,chattel mortgages,etc.,are regulated by their own distinct statutes.
• E)This kind of transaction,which formerly was legal,is now prohibited by law in all provinces.

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Definitions:

Direct Perception

The process of immediately understanding or knowing something through sensory input, without the need for conscious reasoning.

Creativity

The use of imagination or original ideas to create something; inventiveness that is often applied in artistic or problem-solving contexts.

Scholastic Ability

The capacity or potential of an individual to perform and achieve in academic settings.

Alex Osborn

An advertising executive and creative thinker known for coining the term "brainstorming" and co-founding the Creative Education Foundation.