When a bank's claim to collateral is superior to all other creditors, the claim is said to be:
A) developed.
B) guaranteed.
C) certified.
D) perfected.
E) endorsed.

Question

Quizplus · Accepted Answer

When a bank's claim to collateral is superior to all other creditors, the claim is said to be perfected. This means that the bank has ensured that its security interest has been properly established and recorded, giving it priority over other creditors in the event of default. Developed, guaranteed, certified, and endorsed do not accurately describe this situation.

When a Bank's Claim to Collateral Is Superior to All