The ____ in an installment purchase contract indicates whether or not the lender has control over the item being purchased.
A) note
B) credit life insurance
C) sales contract
D) security agreement
E) add-on clause

Question

Quizplus · Accepted Answer

The security agreement outlines the terms of the lender's control over the item being purchased, including their right to repossess the item if the borrower defaults on payments.

The ____ in an Installment Purchase Contract Indicates Whether or Not