Bill of sale
Chattel paper
Codicil
Conveyance
Official source: Notary Public License Law (March 2026)
Reference: Legal Terms & Definitions
Source checked September 7, 2026
Correct Answer
B. Chattel paper
Detailed Explanation
That glossary phrase identifies chattel paper. In “Definitions and General Terms,” chattel paper means a writing or writings evidencing both an obligation to pay money and a security interest in a lease or specific goods. For contrast, a bill of sale passes title to personal property, while chattel paper is the evidence of an obligation and related security interest.
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