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On Behalf of His Company, OP Finance, Errol Contracted with XYZ

Question 59

Multiple Choice

On behalf of his company, OP Finance, Errol contracted with XYZ Construction to erect an office building.The building will cost $150 million.OP Finance has a very high accounts receivable balance.In order to pay XYZ, Errol arranges a loan from CIBc.From the bank's perspective, it would be best to obtain


A) a conditional sale of the building, retaining ownership until OP pays the loan.
B) an assignment of accounts receivable.
C) a general security agreement.
D) a security interest in the building.
E) a floating charge.

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