[Repo] Meredith sells used cars and trucks. She sold a used pick-up truck to Jill and a used convertible to Caleb. She properly obtained a security interest in both vehicles. Both Jill and Caleb defaulted on payments owed to Meredith for the vehicles. Meredith was under the belief that her only option was to take possession of the collateral. She decided to repossess Jill's pick-up at Jill's house. Meredith slipped into Jill's driveway after midnight and started the truck's engine. Jill immediately ran out and confronted Meredith. Meredith shoved Jill away and drove off in the pick-up truck. Meredith was able to repossess Caleb's convertible in a public parking lot with no altercation with him.
-Which statement is correct regarding Meredith's repossession of the pick-up truck?
A) Meredith breached the peace in recovering the collateral.
B) Meredith did not breach the peace in recovering the collateral unless Jill can establish the existence of actual injuries.
C) Meredith did not breach the peace because she was entitled to repossess the vehicle and any injury sustained by Jill was her own fault.
D) Meredith breached the peace, but only because she did not provide Jill with prior notification that she was coming to repossess the collateral.
E) Meredith breached the peace, but only because she acted to repossess the collateral after 10:00 p.m. at night.
Correct Answer:
Verified
Q65: [Pottery Store] A&B Bank loaned money to
Q66: Which of the following methods of perfection
Q67: Does the fact that the financing statement
Q68: The bank should have done what to
Q69: Trevor goes to the AutoShop and purchases
Q71: Where should the bank have filed the
Q72: [Hang Glider] Monte borrows money from A&Z
Q73: [Repo] Meredith sells used cars and trucks.
Q74: Jo purchases a car from Used-Carz and
Q75: Which method(s) of perfection must be used
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