Asked by Michelle Dalton on May 27, 2024
Verified
A(n) ________ is the person or party that has an obligation to the secured party.
A) assignor
B) debtor
C) maker
D) creditor
E) delegator
Debtor
An individual or entity that owes money or other obligations to another party, known as the creditor.
Secured Party
A lender or creditor that has a legal interest in the collateral offered by the debtor to secure a loan or other obligation.
Obligation
An obligation is a legal or moral duty to do or not to do something.
- Understand the functions and meanings of collateral, security interests, and secured parties.
Verified Answer
RP
Radhi PandyaMay 27, 2024
Final Answer :
B
Explanation :
A debtor is the person or party that has an obligation to the secured party.
Learning Objectives
- Understand the functions and meanings of collateral, security interests, and secured parties.
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