A floating lien,chattel mortgage,or terminal warehouse receipt have which of the following in common?

Question

Quizplus · Accepted Answer

A floating lien, chattel mortgage, and terminal warehouse receipt are all forms of secured financing that use inventory (i.e. goods, products, or merchandise) as collateral to secure a loan. Accounts receivables are not typically used as collateral in these types of financing arrangements, and they are not unsecured forms of financing. Option B, stating that they have nothing in common, is not true as they all share the same purpose of using collateral to secure financing.

A Floating Lien,chattel Mortgage,or Terminal Warehouse Receipt Have Which of the Following