Question

QUESTION 11

Which of the following would not be classified as a tangible good under Article 9? Consumer good Equipment Inventory Chattel paper

QUESTION 12

1. A creditor who is protected by a valid Article 9 security interest is an ________.

   		Interested party.
   		Secured creditor.
   		Holder in due course.
   		Lien holder.

QUESTION 13

1. _________ are writings that evidence both an obligation to pay money and a security interest or lease of specific goods.

   		Chattel paper.
   		Bills of sale.
   		Writs of Garnishment.
   		Fixture filings.

QUESTION 14

1. When a ________ is purchased, a bonding company promises to pay an employer any loss, not to exceed a stated amount, caused by the covered employees' embezzlement.

   		Performance bond.
   		Fidelity bond.
   		Security agreement.
   		Nonperformance bond.

QUESTION 15

1. A surety will remain liable when the creditor-principal agreement is modified if the surety consents to the modification

   		Before the modification takes place.
   		At the time the modification takes place.
   		After the modification takes place.
   		All of the above.

Answer 1

Dear student, only one question is allowed at a time. I am answering the first question

11)

Following are tangible collateral under Article 9 :

Consumer goods, equipment, inventory, and farm products

So, Chattel paper is not recognized as collateral under Article 9 and so Chattel paper is the correct answer