Question: please answer the following questions: 10. A creditor can include as collateral a. Equipment b. After-acquired equipment c. Inventory d. After-acquired inventory e. Proceeds from
please answer the following questions:
10. A creditor can include as collateral a. Equipment b. After-acquired equipment c. Inventory d. After-acquired inventory e. Proceeds from the sale of inventory f. All of the above 11. allows a debtor to draw money from a loan as needed a. Attachment b. Line of credit c. Cross-collateralization d. Perfection 12. Every time a debtor draws on a Line of Credit, a new Security Agreement must be prepared. TRUE FALSE 13. Cross collateralization occurs when property that is not the subject of the loan is used to collateralize the loan TRUE FALSE 14. A security interest in proceeds over an entire category of collateral (including after-acquired property and collateral subject to future advances) is called a a. Umbrella Lien b. Floating Lien c. Shifting Lien 15. The purpose of Perfection is a. To ensure that the collateral is in perfect condition b. To give notice to the world of a creditor's interest in the collateral c. To verify that the security agreement and promissory note are compatible - do not contain any contradictions lp ed 17. List two ways to Perfect: 1. Possession 2. File a Finance Statement /hd 115% Vhs LEGU
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