Asked by Rawynsk Silva on Jul 30, 2024
Verified
The person or party that holds the interest in the secured property is the ________.
A) subrogee
B) assignee
C) delegatee
D) secured party
E) third-party beneficiary
Secured Party
An individual or entity that has been given a security interest in the property of a debtor as collateral for a loan or obligation.
Secured Property
is assets or property used as collateral to secure a loan, ensuring the lender can recover the loan through repossession if necessary.
Interest
The cost of borrowing money, typically expressed as a percentage rate over the period of a loan, or the earnings from investment over the same timeframe.
- Comprehend the significance and terminologies of collateral, security interests, and secured parties.
Verified Answer
Learning Objectives
- Comprehend the significance and terminologies of collateral, security interests, and secured parties.
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