Everyday Loans,Inc.,takes possession of Ferbie's stock in Glade Electronics Corporation to perfect Everyday's security interest in the stock.This is

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Everyday Loans, Inc. is taking possession of Ferbie's stock as a pledge to secure the loan. A pledge is a type of security interest where the debtor (Ferbie) gives possession of the collateral (stock) to the creditor (Everyday Loans, Inc.) as security for a loan.