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What Must a Creditor, Who Has Taken Security from a Debtor

Question 49

Multiple Choice

What must a creditor, who has taken security from a debtor, do to ensure being repaid before (have priority over) any other creditors?


A) It must have notified unsecured creditors
B) The debtor must not be engaged in bankruptcy proceedings.
C) The security must have been registered
D) The security must be in relation to tangible property
E) The court will decide who gets repaid first based on who is owed the most money

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