Which of the following refers to the assets resulting from the exchange or disposal of collateral subject to a security agreement?
A) sale proceeds
B) future advances
C) floating lien
D) after-acquired property

Question

Quizplus · Accepted Answer

Sale proceeds refer to the assets resulting from the exchange or disposal of collateral subject to a security agreement. Future advances refer to additional loans or money borrowed in the future. A floating lien is a type of security interest in which the collateral may change in quantity or nature. After-acquired property refers to property acquired by the debtor after the security agreement is made.

Which of the Following Refers to the Assets Resulting from the Exchange