Asked by Branevi Pakeerathan on Jul 13, 2024
Verified
When the transaction is registered, the creditor's rights include all of the following except
A) contractual remedies upon default.
B) the right to seize the security.
C) the right to resell the security.
D) the right to sue the debtor rather than seize security.
E) the right to order the debtor arrested or detained.
Personal Property
Movable assets or belongings, as contrasted with real property (land and buildings).
Seize Security
The act of taking possession of collateral or assets to satisfy a debt or enforce a legal judgment.
- Investigate the legal repercussions in scenarios entailing secured transactions, detailing the obligations and rights of the entities involved.
Verified Answer
HM
Hridya MohanJul 17, 2024
Final Answer :
E
Explanation :
The right to order the debtor arrested or detained is not a creditor's right when a transaction is registered. Modern laws do not allow creditors to have debtors arrested or detained for failing to pay a debt, as these practices are considered violations of personal freedoms and rights.
Learning Objectives
- Investigate the legal repercussions in scenarios entailing secured transactions, detailing the obligations and rights of the entities involved.