Jane is the secured party in a secured transaction with Margaret.Jane could also be referred to as the
A)debtor.
B)secured creditor.
C)collateral.
D)filing officer.

Question

Quizplus · Accepted Answer

Jane is referred to as the secured creditor in a secured transaction, as she holds a security interest in the collateral (property or assets) of the debtor, Margaret, who owes a debt to Jane. The debtor is the person who owes the debt, and is not the secured party. The collateral is the property or assets in which the security interest is held. A filing officer would be the person responsible for filing the necessary documents with the relevant state authority to perfect the security interest.

Jane Is the Secured Party in a Secured Transaction with Margaret.Jane