Asked by
2021 Katherine Bellew
on Nov 21, 2024
Verified
________ is the person or the party that holds the interest in the secured property.
A) A debtor
B) A ruling party
C) An approved party
D) A secured party
E) An attached party
Secured Party
A creditor or lender that holds a security interest in collateral to secure a debt.
Secured Property
Refers to assets that are pledged as collateral for a loan, providing the lender with security that the loan will be repaid.
- Determine the entities participating in a secured transaction and define their specific functions.
Verified Answer
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Learning Objectives
- Determine the entities participating in a secured transaction and define their specific functions.