If the creditor has possession of the collateral, the security agreement:
A) should specify the collateral.
B) need not be in writing.
C) need not specify the collateral.
D) should be in writing.

Question

Quizplus · Accepted Answer

The agreement in which a debtor grants a creditor a security interest in the debtor's property generally must be in writing and signed by the debtor. A written agreement is required in all cases except where the creditor has possession of the collateral.

If the Creditor Has Possession of the Collateral, the Security