Which transaction is the most suitable way for a bank to take inventory as security?
A) Chattel mortgage.
B) Conditional sales contract.
C) Purchase money securities interest.
D) Section 427 Bank Act security.
E) None of these.

Question

Quizplus · Accepted Answer

Section 427 Bank Act security is specifically designed for banks in Canada to take security on certain types of inventory, making it the most suitable option among those listed for a bank to take inventory as security.

Which Transaction Is the Most Suitable Way for a Bank