A conditional sales contract is an example of a(n):
A) chattel paper.
B) document of title.
C) negotiable instrument.
D) investment property.

Question

Quizplus · Accepted Answer

Chattel paper includes written documents that evidence both an obligation to pay money and a security interest in specific goods. A typical example of chattel paper is a conditional sales contract. This is the type of contract that a consumer might sign when she buys a large appliance such as a refrigerator on a time-payment plan.

A Conditional Sales Contract Is an Example of A(n)