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What is the term for when the creditor has possession of the goods until the debt is paid, and there is an express/implied right of sale?
What is the term for when the creditor has possession of the goods until the debt is paid, and there is an express/implied right of sale?
- Common law lien
- Title transfer
- Pledge (correct)
- Bailment
What is the term for when the creditor has possession of the goods until the debt is paid, and there is no right of foreclosure upon repayment?
What is the term for when the creditor has possession of the goods until the debt is paid, and there is no right of foreclosure upon repayment?
- Bailment
- Pledge (correct)
- Title transfer
- Common law lien
What is the term for when the creditor has possession of the goods until the debt is paid, and it is the bailment of personal property as security for a debt?
What is the term for when the creditor has possession of the goods until the debt is paid, and it is the bailment of personal property as security for a debt?
- Pledge (correct)
- Title transfer
- Bailment
- Common law lien
What is the term for when the creditor has possession of the goods until the debt is paid, and it is inherent, and does not need to be expressly created by the security agreement?
What is the term for when the creditor has possession of the goods until the debt is paid, and it is inherent, and does not need to be expressly created by the security agreement?
What is the term for when the creditor has possession of the goods until the debt is paid, and it is the bailment of personal property as security for a debt, and there is an express/implied right of sale?
What is the term for when the creditor has possession of the goods until the debt is paid, and it is the bailment of personal property as security for a debt, and there is an express/implied right of sale?
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