Asked by Baily Shelor on Apr 24, 2024
Verified
According to the Code classifications of collateral,investment property includes:
A) patents,copyrights,software,and franchises.
B) checks,notes,drafts,and certificates of deposit.
C) stocks,bonds,and commodity contracts.
D) bills of lading,dock warrants,dock receipts,and warehouse receipts.
Investment Property
Real estate property that is purchased with the intention of earning a return on investment through rental income, the future resale of the property, or both.
Stocks
Shares of ownership in a corporation, representing a claim on part of the corporation's assets and earnings.
Commodity Contracts
Commodity contracts are legally binding agreements for the purchase or sale of physical goods or raw materials at a predetermined price and future date.
- Differentiate among various categories of collateral such as inventory, equipment, and consumer goods in accordance with the Uniform Commercial Code.
Verified Answer
Learning Objectives
- Differentiate among various categories of collateral such as inventory, equipment, and consumer goods in accordance with the Uniform Commercial Code.
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