A secured transaction is a transaction in ________.

A) which the payment of a debt is guaranteed by personal property owned by the debtor
B) which the payment of a loan is made to a bank
C) which a guarantor gives collateral for any transaction
D) which a bank receives property as collateral
E) which two parties agree to a loan

Secured Transaction

A transaction in which the payment of a debt is guaranteed by personal property owned by the debtor.

Personal Property

Movable assets owned by an individual, as opposed to real property like land or buildings.

Debtor

An individual or entity that owes money or is legally obligated to make payments to another party.