When a debtor sells collateral,he or she receives ________,something that is exchanged for collateral.

A) after-acquired property
B) consideration
C) proceeds
D) collateral
E) value

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower defaults.

Proceeds

The total amount of money or assets that result from a particular transaction or event.

Consideration

Something of value that is given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.