If the debtor is in default and the secured party wants to repossess the collateral in order to sell it, he must get a court order to do so.

Name: If the debtor is in default and the secured party wants to repossess the collateral in order to sell it, he must get a court order to do so.
Brand: Quizplus
Rating: 4.7 (31 reviews)

Question

Quizplus · Accepted Answer

A secured party can repossess collateral without a court order if it can be done without breaching the peace, according to the Uniform Commercial Code (UCC) in the United States.

If the Debtor Is in Default and the Secured Party