Question

I. Unless the creditor has possession of the collateral, there must be a written/authenticated security agreement that is signed/authenticated by the debtor and describes the collateral subject to the security interest
ii. The secured party must give value to the debtor
iii. The debtor must have rights in the collateral
1. Some ownership interest in or right to obtain possession of the specified collateral.

Answer 1

Answer:

These are requirements for an enforceable security interests

Explanation: