Consideration to support a simple contract is not sufficient value to support the acquisition of a security interest.
Correct Answer:
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Q1: A debtor must have title to collateral
Q2: To create an enforceable security interest, the
Q3: A security agreement must describe the collateral
Q4: The instrument normally filed to give public
Q5: Attachment ensures that a security interest between
Q7: Business as we know it could not
Q8: One of a creditor's main concerns is
Q9: The UCC's classification or definition of collateral
Q10: Every interest in personal property that guarantees
Q11: For most collateral, possession by a secured
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