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Question 336 - CTFA discussion

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A legal claim permitting the lender in case the borrower defaults, to liquidate the items serving as collateral to satisfy the obligation is called:

A.
Chattel mortgage
Answers
A.
Chattel mortgage
B.
Lien
Answers
B.
Lien
C.
Collateral note
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C.
Collateral note
D.
Loan application
Answers
D.
Loan application
Suggested answer: B
asked 16/09/2024
Andy Hodges
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