Explain a written agreement and summits possession of the, Ask an Expert

Management Studies

Summit Credit Corporation lends funds to Toby, a consumer, to apply to the cost of a sport utility vehicle(SUV), which is the collateral for the loan. An enforceable security interest also requires

a. a written agreement and Summit's possession of the SUV.

b. a written agreement or Summit's possession of the SUV.

c. the vehicle seller's acknowledgement of the loan in writing.

d. Toby's possession of the SUV.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9306506

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