Gisele operates an outdoor equipment store in premises rented from Orca Real Property Inc. Before she moved to these premises, she had borrowed $10 000 from Imperial Bank for her business and given Imperial a security interest in her present and future inventory and accounts receivable. Gisele defaults on her obligations to the Bank and to Orca. Orca is entitled to seize Gisele's assets located in the space rented from Orca.

Question

Quizplus · Accepted Answer

Orca is entitled to seize Gisele's assets located in the space rented from Orca because Orca has a landlord's lien on Gisele's assets. A landlord's lien gives the landlord the right to seize the tenant's assets if the tenant defaults on their rent payments.

Gisele Operates an Outdoor Equipment Store in Premises Rented from Orca