A creditor may be secured by operation of the law only, all other means of securing loans are not enforceable.

Name: A creditor may be secured by operation of the law only, all other means of securing loans are not enforceable.
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Question

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A creditor may be secured by operation of the law, such as through a lien on property, but there are other enforceable means of securing loans, such as through a contractual security interest or personal guarantee.

A Creditor May Be Secured by Operation of the Law