Asked by
Merna Hirmiz
on Nov 21, 2024
Verified
Which of the following would not be considered collateral?
A) Farm products.
B) Equipment.
C) Documents of title.
D) Proceeds.
E) Indispensable paper.
Collateral
An asset offered by a borrower to secure a loan, which the lender can seize if the borrower fails to repay the debt.
Farm Products
Goods that are produced through agriculture, such as crops, livestock, and the products derived from them.
Documents of Title
Legal documents that provide proof of a person's rights to control the disposition of goods or property, such as bills of lading or warehouse receipts.
- Comprehend the principles of secured transactions and the importance of a security agreement.
Verified Answer
LB
Learning Objectives
- Comprehend the principles of secured transactions and the importance of a security agreement.