Asked by Emily Keith on Jul 30, 2024
Verified
What type of collateral must be perfected through possession?
A) Certificates of deposit
B) Stocks
C) Bonds
D) Certificates of deposit,stocks,and bonds
E) No types of collateral must be perfected through possession
Perfected Through Possession
A legal status indicating that a party's interest in a piece of property or an asset is fully secured and acknowledged legally because they possess it.
Stocks
Equity investments representing ownership interests in corporations, giving shareholders a claim on the company's earnings and assets.
Certificates of Deposit
Interest-bearing bank deposits with a fixed maturity date, penalty for early withdrawal, and are insured.
- Differentiate between the act of creating an attachment and achieving perfection in a security interest.
Verified Answer
Learning Objectives
- Differentiate between the act of creating an attachment and achieving perfection in a security interest.
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