Which of the following terms is not defined in the UCC
A) purchase money security interest
B) collateral
C) default
D) attachment
E) perfection

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) defines terms related to commercial transactions, but "default" is not explicitly defined within the UCC. Terms like "purchase money security interest," "collateral," "attachment," and "perfection" are specifically defined within the UCC, relating to secured transactions and other commercial finance areas.

Which of the Following Terms Is Not Defined in the UCC