Which statement is correct about the creation of a security interest? O The debtor has no actual rights to the collateral until final payment is made The secured party must give a consumer good to get the security agreement To create a security interest, either a written agreement is necessary or the secured party is in possession of the collateral The secured party must be a bank A written agreement is necessary to create a security interest
Which statement is correct about the creation of a security interest? O The debtor has no actual rights to the collateral until final payment is made The secured party must give a consumer good to get the security agreement To create a security interest, either a written agreement is necessary or the secured party is in possession of the collateral The secured party must be a bank A written agreement is necessary to create a security interest
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Transcribed Image Text:Which statement is correct about the creation of a security interest?
O-The debtor has no actual rights to the collateral until final payment is made
The secured party must give a consumer good to get the security agreement,
To create a security interest, either a written agreement is necessary or the secured party is in possession of the collateral
The secured party must be a bank
A written agreement is necessary to create a security interest.
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