When a Car Is Sold on Credit, What Legal Status

question 63

Multiple Choice

When a car is sold on credit, what legal status does the creditor generally have with reference to the automobile? ​

• A)The creditor retains legal title and thus holds a security interest in the vehicle, until it is paid for in full.
• B)The creditor is secondarily responsible to third parties injured by the driver of the vehicle.
• C)The creditor is obliged to carry collision and comprehensive automobile insurance on the vehicle to protect the security interest.
• D)all of the above

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Definitions:

Analgesia

The absence of pain in response to stimulation that would normally be painful, often achieved through the administration of drugs.

Migraine Headache

A type of headache characterized by intense, throbbing pain, often accompanied by nausea, vomiting, and sensitivity to light and sound.

School-age Child

Refers to children typically aged 6 to 12 years, who are attending elementary or primary school.

Recurrent

Happening repeatedly or periodically.