A company named Printers World Ltd. bought a $9000 plotter secured by a Security Agreement and, because of business reverses, is unable to make the payments. Which of the following is accurate with respect to the legal position of the parties?
A) The seller could seize the goods only if it obtained a court order.
B) The seller could seize the goods without a court order only if it had properly registered the conditional sale contract.
C) The seller could seize the goods but, before resale can take place, the debtor must be given notice and an opportunity to redeem.
D) The seller could only seize the goods and could not instead opt to sue the company.
E) The seller could seize and sell the same day because it had already waited three months after default before taking any action.
Correct Answer:
Verified
Q7: If you want to buy a car
Q8: When the transaction is registered, the creditor's
Q9: Identify which of the following statements is
Q10: Amy Carr looked at a 2016 Ford
Q11: With regard to guarantees and indemnities, which
Q13: Which one of the following is true
Q14: Elizabeth gave a guarantee to the Bank
Q15: Hank sold three properties for Mr. W
Q16: Which of the following is the consequence
Q17: Attachment takes place when
A) a contract is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents