Guaranty Capital Corporation is given value by Housewares Wholesale Inc. in the form of a commitment to sell goods on credit. In terms of creating an enforceable security interest, this is
A)the only requirement.
B)a factor but not a requirement.
C)irrelevant.
D)required.

Question

Quizplus · Accepted Answer

A commitment to sell goods on credit is considered value given, which is a requirement for creating an enforceable security interest under the Uniform Commercial Code (UCC).

Guaranty Capital Corporation Is Given Value by Housewares Wholesale Inc