Asked by Bailey Ables on Jul 07, 2024

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Which of the following are a type of indispensable paper?

A) Fixtures
B) Documents of title
C) Accounts
D) Fixtures,documents of title,and accounts
E) Fixtures and documents of title,but not accounts

Indispensable Paper

Essential documents or records that are crucial for the verification, operation, or evidence in legal or financial transactions.

Fixtures

Items that are originally personal property but become real property when attached to land or a building in a permanent manner.

Documents of Title

Legal documents that prove ownership of an asset, such as a bill of lading or warehouse receipt.

  • Understand the importance and use of chattel paper in secured transactions.
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Verified Answer

AM
Anmol MehtaJul 10, 2024
Final Answer :
B
Explanation :
Collateral is the property that is subject to the security interest,and may include indispensable paper.Examples of indispensable paper include documents of title,negotiable instruments,and chattel paper.