Question

chapter 11 Assignment #2 

Place the correct term to the right of the description 

 Goods that have become attached to real estate

 An interest in personal property or fixtures that secures the performance of some obligation

 The person or company that holds the security interest

 The property subject to a security interest

 Contract in which the debtor gives a security interest to the secured party

 When the debtor fails to pay money that is due

 When the secured party takes the collateral because the debtor has defaulted

 A series of steps the secured party must take to protect its rights in the collateral against people other than the debtor

 A document filed by the secured party to give the general public notice that it has a security interest in the collateral.

Answer 1

1. Goods that have become attached to real estate is Fixture.

2, An interest in personal property or fixtures that secures the performance of some obligation is Security Interest.

3.The person or company that holds security interest is Secured Party

4. The property subject to a security interest is Collateral.

5. Contract in which the debtor gives a security interest to the secured party is Security Agreement.

6. When the debtor fails to pay money that is due Default

7. When the secured party takes the collateral because the debtor has defaulted Repossession.

8. A series of steps the secured party must take to protect its rights in the collateral against people other than the debtor Perfections.

9. A document filled by the secured party to give the general public notice that it has a security interest in the collateral Financing Statement.