A secured transaction is one in which the creditor and debtor carry out financial transaction in a secure medium, such as a private communication channel.

Name: A secured transaction is one in which the creditor and debtor carry out financial transaction in a secure medium, such as a private communication channel.
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Question

Quizplus · Accepted Answer

A secured transaction involves a security interest in collateral, which the creditor can claim if the debtor defaults, not merely the use of a secure communication medium.

A Secured Transaction Is One in Which the Creditor and Debtor