A(n)________ is a record that evidences both a monetary obligation and a security interest in specific goods and software used in the goods.
A)chattel paper
B)citation
C)financing statement
D)document of possession

Question

Quizplus · Accepted Answer

A chattel paper is a legal document that represents both a monetary obligation and a security interest in specific goods and any software used in these goods. It serves as evidence of both the creditor's security interest and the debtor's monetary obligation.

A(n)________ Is a Record That Evidences Both a Monetary Obligation