To be valid, a security agreement must set forth the creditor's rights upon the debtor's default.

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A security agreement is a legal document that outlines the terms and conditions of a secured loan. It should specify the creditor's rights, such as the right to take possession of the collateral, sell it, or use legal remedies to collect the debt if the borrower defaults. Without such provisions, the security agreement may not provide adequate protection to the lender's interests.

To Be Valid, a Security Agreement Must Set Forth the Creditor's