Auto Sales & Finance wants to get paid for its goods and services, so it will not sell goods or lend funds unless payment is guaranteed by some personal property and not just by a promise. This is the concept of
A) bad faith.
B) fiduciary duty.
C) a secured transaction.
D) a fair debt collection practice.

Question

Quizplus · Accepted Answer

A secured transaction involves a borrower agreeing to give the lender a security interest in personal property as collateral for a loan, ensuring payment is guaranteed by the property.

Auto Sales & Finance Wants to Get Paid for Its