Detailed Answer
(c) In order for a security interest to attach, there must
be a valid security agreement, the secured party must have given
value, and the debtor must have rights in the collateral. If any
one of these items is missing, attachment cannot take place. Answer
(a) is incorrect because the security interest may be oral if
the secured party has possession or control of the collateral.
Answer (b) is incorrect because if the security agreement is in
writing, the secured party does not need possession of the collateral
to achieve attachment. Answer (d) is incorrect because the
secured party must give value, not necessarily consideration. A
preexisting claim, although not consideration, does count as
value.