Barbri secured - Study guides, Class notes & Summaries

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Barbri Secured Transactions Questions and Answers

Barbri Secured Transactions Questions and Answers
Exam (elaborations) • 30 pages • 2024
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Secured Transactions - Source of Law? Ans- UCC Article 9 What is a secured transaction? Ans- A business deal, generally a loan of money given in exchange for a security interest in personalty (personal property). If borrower doesn't repay, lender can sell the asset to pay off borrower's debt. Types of Collateral (4) Ans- 1. Tangible 2. Consumer Goods 3. Rights in Real Property 4. Intangible Tangible Collateral (3) Ans- 1. Inventory 2. Equipment 3. Farm Products Inventory Ans-...