Asked by
Frenly Olivares
on Nov 10, 2024
Verified
When the value of the security is not great enough to cover the debt, a secured creditor is an unsecured creditor for that outstanding amount.
Secured Creditor
A creditor who has a claim on property of the debtor, giving him priority on that property over other creditors.
- Master the array of legal principles relevant to banking, transactions with security, and the resolution of defaults.
Verified Answer
EA
Learning Objectives
- Master the array of legal principles relevant to banking, transactions with security, and the resolution of defaults.