Darling is the secured party in a secured transaction with Elmo.In this transaction,Darling
A)has a security interest.
B)owes payment.
C)owes performance.
D)owns collateral.

Question

Quizplus · Accepted Answer

As the secured party, Darling has a security interest in the collateral owned by Elmo. This means that Darling has the right to repossess or sell the collateral if Elmo fails to repay the debt or meet certain obligations as outlined in the security agreement. Darling does not owe payment or performance to Elmo, nor does Darling own the collateral.

Darling Is the Secured Party in a Secured Transaction with Elmo.In