Which of the following is true regarding the manner in which a secured party may sell collateral?
A) The sale must be in a private sale only.
B) The sale must be in a public sale only.
C) The sale must be in an acknowledged sale.
D) The sale may be in a private sale, public sale, or an acknowledged sale.
E) The sale may be in either a private sale or a public sale.

Question

Quizplus · Accepted Answer

A secured party has the option to sell the collateral in either a private sale or a public sale, depending on what is deemed appropriate for the situation. This flexibility allows the secured party to choose the method that is most likely to maximize the return from the sale of the collateral.

Which of the Following Is True Regarding the Manner in Which