Marlie carries on a business of selling new and used lamps.In 2009,she obtained an operating line of credit from the Bank of Nova Scotia.Marlie gave the Bank a security interest in all her present and future assets.Jordan is a dealer in imported chandeliers.He and Marlie agree that he will give her possession of a dozen chandeliers to sell on his behalf.Marlie is not obliged to pay for the chandeliers unless she keeps them for more than 30 days.Marlie goes into default on her loan.The bank seizes all of her inventory,including the 12 chandeliers.Jordan finds out about the seizure and demands the chandeliers,saying that they are his.Is Jordan entitled to get the chandeliers back?

Question

Quizplus · Accepted Answer

The Answer of Marlie carries on a business of selling new and used lamps.In 2009,she obtained an operating line of credit from the Bank of Nova Scotia.Marlie gave the Bank a security interest in all her present and future assets.Jordan is a dealer in imported chandeliers.He and Marlie agree that he will give her possession of a dozen chandeliers to sell on his behalf.Marlie is not obliged to pay for the chandeliers unless she keeps them for more than 30 days.Marlie goes into default on her loan.The bank seizes all of her inventory,including the 12 chandeliers.Jordan finds out about the seizure and demands the chandeliers,saying that they are his.Is Jordan entitled to get the chandeliers back?

Marlie Carries on a Business of Selling New and Used