Question

Clear Lake Credit Corporation lends funds to Donny, a consumer, to apply to the cost of a boat, which is the collateral for the loan. An enforceable security interest requires
a. a written agreement and Clear Lake's possession of the boat.
b. a written agreement or Clear Lake's possession of the boat.
c. the boat seller's acknowledgement of the loan in writing.
d. Donny's possession of the boat.

Answer

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