Every consensual secured transaction involves:
A)a debtor, a secured party, and collateral.
B)value and a surety.
C)a security agreement and a security interest.
D)All of the above.
E)Both (a) and (c).

Question

Quizplus · Accepted Answer

Both (a) and (c) are necessary for a consensual secured transaction. The parties involved are the debtor who owns collateral, the secured party who wants to secure their interest in the collateral, and a security agreement that shows the intention of both parties to create a security interest. Therefore, the answer is (E) both (a) and (c).

Every Consensual Secured Transaction Involves