"Attachment" occurs when a secured party gives value, the debtor has acquired rights in the collateral, and:
A) the debtor has completed his obligation to pay.
B) the collateral is delivered to the borrower.
C) the debtor and secured party have an agreement.
D) the secured party has completed his obligation.

Question

Quizplus · Accepted Answer

For attachment to occur under Article 9 of the Uniform Commercial Code (UCC), there must be an agreement between the debtor and the secured party, which can be evidenced by a security agreement. This agreement typically specifies that the secured party has a security interest in the debtor's collateral. The other options do not directly relate to the initial conditions necessary for attachment.

"Attachment" Occurs When a Secured Party Gives Value, the Debtor