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kiruha [24]
1 year ago
3

A secured transaction involves a _______ agreement in which the _______ pledges its assets as _______ to secure the loan.

English
1 answer:
Doss [256]1 year ago
5 0

A secured transaction involves a financing agreement in which the borrower pledges its assets as collateral to secure the loan.

A secured transaction in finance is a loan or a credit transaction where the lender obtains a security interest in collateral owned by the borrower and is permitted to foreclose on or reclaim collateral in the event of a borrower's default. A contract, or security agreement, regulates the conditions of the arrangement. A typical illustration would be a person buying a car with credit. If the borrower doesn't make payments on time, the lender will repossess the vehicle and sell it, using the revenues to pay off the loan. Another illustration would be mortgages and deeds of trust. Article 9 of the Uniform Commercial Code governs secured transactions involving personal property (i.e., anything other than real estate) in the United States.

To know more about Secured Transactions, refer to this link:

brainly.com/question/29388590

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