On Default, Unless the Security Agreement States Otherwise, the Secured

question 9

True/False

On default, unless the security agreement states otherwise, the secured party has the right to repossess collateral.

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Definitions:

Progressive

Describes policies or ideologies favoring social reform, innovation, and gradual improvements over time, often in the context of taxation, societal change, or politics.

Regressive

Refers to policies or measures that disproportionately affect those with lower incomes, often making them bear a larger relative burden.

Proportional

A relationship between two quantities where the ratio remains constant.

Payroll Taxes

Charges assessed on employers and their workers, based on a percentage of the compensation paid to employees.