Under Article 9 of the UCC, a pledge is:
A) the delivery of personal property to a creditor as security for the payment of a debt.
B) a requirement that the secured party and the debtor agree to certain collateral.
C) an equipment transfer before a forced sale.
D) a form of indispensable paper.

Question

Quizplus · Accepted Answer

A pledge, as defined under Article 9 of the Uniform Commercial Code (UCC), involves the delivery of personal property to a creditor as security for the payment of a debt. This is a traditional form of security interest where physical possession of the collateral is given to the secured party.

Under Article 9 of the UCC, a Pledge Is