Remaining time Question Completion Status: QUESTION 4S 2 points Which of the fol
ID: 2582077 • Letter: R
Question
Remaining time Question Completion Status: QUESTION 4S 2 points Which of the following is true regarding types of liens? Types of liens include consensual and judgment, but not statutory, approved, or evaluated. Types of liens include consensual and statutory, but not judgment, approved, or evaluated. Types of liens include consensual, statutory, and judgment, but not approved or evaluated. Types of liens include judgment, statutory, approved, and evaluated but not consensual. Types of liens include consensual, statutory, judgment, approved, and evaluated. QUESTION 49 2 points Which of the following terms is sometimes referred to as straight bankruptcy? Reformation Reorganization Avoidance O Liquidation QUESTION 50 2 point Which statement is correct about the creation of a security interest? The secured party must give a consumer good to get the security agreement. A written agreement is necessary to create a security interest. The secured party must be a bank. O The debtor has no actual rights to the collateral until final payment is made. O To create a security interest, either a written agreement is necessary or the secured party is in possession of the collateral. 2 poiExplanation / Answer
48 Answer :- Types of liens includes consensual, statut ory and judgement, but not approved or evaluated.
49 Answer :- Liquidation
Reason:- The most familiar type of bankruptcy proceeding is liquidation which is sometimes called straight bankruptcy.
50 Answer :- To create a security Interest, either a written agreement is necessary or the secured party is in possession of the collateral
51 Answer:- Perfection
Reason :- A series of steps that the secured party Must take to protect its requests in the collateral against people either than debt.
For example :- If the debtor cannot pay his debts, secured creditors may attempt to seize that collateral but only one will actually attain it.
52 Answer :- Purchase Money Security Interest
Reason:- a security interest found where a debtor uses borrowed money from the secured party to buy the collateral.