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Business LibreTexts

11: Secured Transactions and Suretyship

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    Learning Objectives

    After reading this chapter, you should understand the following:

    • The basic concepts of secured transactions
    • The property subject to the security interest
    • Creation and perfection of the security interest
    • Priorities for claims on the security interest
    • Rights of creditors on default
    • The basic concepts of suretyship
    • The relationship between surety and principal
    • Rights among cosureties