After some careful research,Susan decided what kind of car to buy.She made an offer to Mr.Frank,a private party,to buy his car only after searching the registry for any liens.The registry reported that there were no liens registered against the vehicle.The seller accepted her offer of $8000.After Susan had had the car for only three weeks,the car was seized by a conditional seller.Which of the following is true?
A) If Susan had failed to search the registry, she could not get the car back whether or not the loan transaction had been properly registered.
B) Susan cannot keep the car nor can she complain to the seller, because the seller never said the car was free and clear of liens or encumbrances.
C) The conditional seller has the right to keep the car for the sole reason that it has title to it and could assert its claim whether it properly registered with the central registry or not.
D) The conditional seller could not keep the car if it had not registered its claim properly.
E) If it has not properly registered the security, the conditional seller has lost all rights and claims.
Correct Answer:
Verified
Q17: Attachment takes place when
A) a contract is
Q19: Which of the following statements regarding the
Q23: Both a chattel and a chose in
Q44: Elizabeth gave a guarantee to the Bank
Q45: A purchase money security interest
A) will be
Q48: In case of default by either the
Q49: In Re Fancy,a businessperson knew that he
Q50: Which of the following debts continue even
Q51: Which of the following is primarily liable
Q55: The debtor usually retains possession of the
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