Business Law Principles and Practices

Business

Quiz 36 :

Protecting the Creditor

Quiz 36 :

Protecting the Creditor

Question Type
search
arrow
Property pledged as collateral must be in the possession of the creditor.
Free
True False
Answer:

Answer:

False

Tags
Choose question tag
close menu
arrow
A security agreement includes
Free
Multiple Choice
Answer:

Answer:

D

Tags
Choose question tag
close menu
arrow
Shares of stock may serve as collateral for a loan.
Free
True False
Answer:

Answer:

True

Tags
Choose question tag
close menu
arrow
Property subject to a security agreement is called collateral.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A security agreement must be signed by both the debtor and the creditor.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A security agreement must be filed or it is invalid.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A debtor's property may be seized and sold to pay off a debt.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Tax liens are granted to a government agency to ensure the payment of property taxes.
True False
Answer:
Tags
Choose question tag
close menu
arrow
Before an unsecured creditor can seize a debtor's property and sell it to satisfy a debt, the creditor must first obtain a(n)
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
A contract of suretyship must be in writing to be enforceable.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A creditor's claim to specific property of a debtor is called a judgment.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A court order directing a debtor to pay an amount owed is called a(n)
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
A secured creditor may repossess the debtor's property and sell it to pay the debt.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A guaranty requires consideration to be enforceable.
True False
Answer:
Tags
Choose question tag
close menu
arrow
An unsecured debt
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
A debt based solely on the debtor's promise to pay is a(n)
Multiple Choice
Answer:
Tags
Choose question tag
close menu
arrow
A suretyship is terminated if the debtor and creditor change the terms of the agreement without the consent of the surety.
True False
Answer:
Tags
Choose question tag
close menu
arrow
If a creditor sells repossessed property, any amount remaining after paying the debt must be returned to the debtor.
True False
Answer:
Tags
Choose question tag
close menu
arrow
An architect not paid for services may file an artisan's lien.
True False
Answer:
Tags
Choose question tag
close menu
arrow
A debtor's promise to pay must be in writing to be enforceable.
True False
Answer:
Tags
Choose question tag
close menu
Showing 1 - 20 of 50