Question: If there is a default on a secured debt, and a secured party sells a piece of collateral, which of the following statements is correct?
If there is a default on a secured debt, and a secured party sells a piece of collateral, which of the following statements is correct?
Multiple Choice
Until the collateral is actually disposed of by the creditor, the buyer can redeem it
For a private sale, the debtor must have no knowledge of it being executed.
The debtor has no right to oppose to the sale to protect his interests.
The secured party may not lease the collateral but sell it
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