Question
Which of the following is NOT true about taking possession of collateral? A. After legally repossessing the goods, the secured party can retain the collateral.
Which of the following is NOT true about taking possession of collateral?
A. After legally repossessing the goods, the secured party can retain the collateral.
B. A secured party may repossess the collateral pursuant to judicial process or without judicial process if the self-help repossession of the collateral does not breach the peace.
C. If necessary, a secured creditor may obtain a court judgment or warrant to repossess personal property.
D. Many debtors peacefully allow a secured creditor to repossess goods.
E. After legally repossessing the goods, the secured party must sell the collateral.
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