Asked by Paola Diogene on Apr 26, 2024
Verified
What type of agreement is required in nearly all security interest transactions?
A) An authenticated security agreement
B) An international depositor's agreement
C) Foreign assignment agreement
D) Title conveyance agreement
Authenticated Security Agreement
A legal document that verifies a security interest in collateral, often required in secured transactions.
Security Interest Transactions
A legal and financial arrangement where collateral is provided to secure a debt or obligation.
Agreement
A mutual understanding or arrangement between two or more parties, often formalized by a written document.
- Understand the rules related to forming and completing security agreements, encompassing those made online.
Verified Answer
AL
Anna-Melissa LlewellynApr 27, 2024
Final Answer :
A
Explanation :
According to UCC section 9-203,an authenticated security agreement is required in all security interest cases except where the creditor has possession of the collateral.
Learning Objectives
- Understand the rules related to forming and completing security agreements, encompassing those made online.