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C is corrent. An agency coupled with an interest will be created any time the agent has either a property interest or a security interest in the subject matter of the agency. If a lender obtains authorization to sell pledged securities and applies the proceeds to the loan in the event of the borrower’s default, that lender becomes an agent with a security interest in the subject matter of the agency relationship, and the agency is irrevocable.
A is incorrect. In this situation, the agent merely has rights to a percentage of proceeds to be received, but has no interest in the subject matter of the agency relationship.
A is incorrect. In this situation, the agent merely has rights to a percentage of proceeds to be received, but has no interest in the subject matter of the agency relationship.
D is incorrect. In this situation, the agent merely has rights to a percentage of proceeds to be received, but has no interest in the subject matter of the agency relationship.