[Civil Engineering Version] Daily Question 20171117
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This post was last edited by hesonchang214 on 2017-11-22 08:32. The legal mechanism in which the debtor or a third party transfers their movable property or rights to the creditor for possession, as a guarantee for the fulfillment of the debt; and when the debtor is unable to fulfill their obligations, the creditor has the legal right to be compensated first from such movable property or rights, is called ( ). A. Guarantee B. Mortgage C. Lien D. Pledge Correct answer: D
A legal transaction in which the debtor or a third party transfers their movable property or rights to the creditor for possession, as security for the fulfillment of the debt; when the debtor is unable to fulfill their obligations, the creditor has the legal right to be compensated first from such movable property or rights is called (D).
A legal transaction in which the debtor or a third party transfers their movable property or rights to the creditor for possession, as security for the fulfillment of the debt; when the debtor is unable to fulfill their obligations, the creditor has the legal right to be compensated first from such movable property or rights is called ( ). D. Pledge