Question: A creditor must gain a security interest in the collateral of a debtor to become a secured party. Which of the following is not a

A creditor must gain a security interest in the collateral of a debtor to become a secured party. Which of the following is not a criterion for creating the security interest?

Multiple choice question.

The secured property is sufficient in value to cover all debts owed by the party.

The debtor has a right in or to the collateral.

The secured party gives value for the security agreement created by the creditor and the debtor.

The creditor and the debtor create a security agreement, and there is a record of the agreement.

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