_______, a form of possession under Article 9, occurs when a bank is able to require the debtor account holder to clear all transactions in that account.
A) Control
B) Perfection.
C) Termination
D) Redemption

Question

Quizplus · Accepted Answer

Control is a form of possession under Article 9 of the UCC (Uniform Commercial Code) that occurs when a bank has the power to require the debtor account holder to clear all transactions in that account. This type of possession is often used in connection with securities accounts as well. Perfection refers to the method by which a secured party establishes priority over other parties with regard to the collateral. Termination refers to the process by which a security interest in collateral is ended, and redemption refers to the process by which the debtor pays back or buys back the collateral.

_______, a Form of Possession Under Article 9, Occurs When