Categorizing a transaction as a lease rather than a security interest:
A) has significant implications for the parties and for third parties.
B) has significant implications only for the parties to the transaction.
C) would mean the provisions of Article 9 of the UCC apply to the transaction.
D) Two of these are correct.

Question

Quizplus · Accepted Answer

Categorizing a transaction as a lease rather than a security interest affects both the parties involved and third parties, as it determines the rights and obligations under the Uniform Commercial Code (UCC).

Categorizing a Transaction as a Lease Rather Than a Security