Which One of the Following Statements About the Personal Property

question 13

Multiple Choice

Which one of the following statements about the Personal Property Security Act is true?

• A)This legislation applies only to all present transactions where personal property is given as security interest to enforce an obligation.
• B)If someone suspects that an item of personal property has been given as security by a particular person,he or she can sue on the breach of a condition.
• C)In a situation where a debtor fraudulently attempts to transfer property that he or she has given as security,the Act is designed to protect both the debtor and the secured creditor.
• D)If a secured creditor fails to register his or her security interest in the Personal Property Registry,he or she loses his or her rights against the debtor.
• E)Unless a creditor in a secured transaction covered by this Act takes steps to "attach and perfect" his security interest,he or she could lose that interest to someone outside the contract.

---

Definitions:

Critical Period

A specific time during development when the organism is particularly sensitive to certain stimuli, making it easier for certain skills or behaviors to be acquired.

Sensitive Period

A stage in an organism's development during which it is more responsive to certain stimuli and capable of learning or adapting in particular ways.

Environmental Input

Any information or stimuli that an organism receives from its surroundings, which can affect its behavior and development.

Preconventional Level

A stage in Kohlberg's theory of moral development where moral reasoning is based on external rewards and punishments.