Apply It: Secured Transactions

Total points: $--/5$

Attempts left: $2$

Identifying the Facts and Issues

To create a security interest in personal property that is not held by the lender, there must be a written

security $$greement $-$ that describes the personal property, also referred to $\frac{a}{b}ar(s)$

The secured party must give

the debtor something of value, and the debtor must have rights in the property. When this occurs, the creditor's rights selectanswer $-,$ which gives