Rose applies for a credit card at Sell-Mart. The terms do not include a pledge of certain property to ensure the repayment of charges to the card, but it does provide that Sell-Mart can assess interest on the unpaid amount of a monthly statement. In this situation, the unsecured party is

Question

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Sell-Mart is the unsecured party because there is no collateral (specific pledged property) to secure the repayment of the credit card charges.

Rose Applies for a Credit Card at Sell-Mart