In most cases, value, which allows attachment of a security interest, is any consideration that supports a simple contract.

Question

Quizplus · Accepted Answer

Value is typically defined as any consideration that supports a simple contract, such as money, property, or services. This value allows for the attachment of a security interest, which gives a creditor the right to take possession of the debtor's property if they default on their loan or other obligation. Therefore, in most cases, value is a key element in creating a valid security interest.

In Most Cases, Value, Which Allows Attachment of a Security