Jo purchases a car from Used-Carz and signs a security agreement that identifies Jo's "blue car" as the collateral.If Jo is unable to make payments,how likely would Used-Carz be in a suit to recover the collateral if Jo defaults on her payments?

Question

Quizplus · Accepted Answer

A)It is important that the collateral be clearly described in the written agreement because the creditor could otherwise lose its rights to the collateral.
B)It is important that the collateral be clearly described in the written agreement because the creditor could otherwise lose its rights to the collateral.
C)It is important that the collateral be clearly described in the written agreement because the creditor could otherwise lose its rights to the collateral.
D)It is important that the collateral be clearly described in the written agreement because the creditor could otherwise lose its rights to the collateral.
E)It is important that the collateral be clearly described in the written agreement because the creditor could otherwise lose its rights to the collateral.

Jo Purchases a Car from Used-Carz and Signs a Security