Under the UCC,a collateral which has been sold in a private sale by a secured party to a good faith purchaser for value,after the debtor's default:
A) may be redeemed by the debtor within 10 days after the disposition.
B) may be redeemed by creditors with subordinate claims.
C) remains subject to the security interests of subordinate lien creditors in all cases where the collateral is disposed of at a private sale.
D) discharges the security interest pursuant to which such sale was made and any security interest or lien subordinate thereto.
Correct Answer:
Verified
Q47: With regard to a prior perfected security
Q51: A retailer of consumer goods who relies
Q55: Mark filed a financing statement on Daniel's
Q55: Carter sold a $20,000 boat to Davis
Q57: Acorn Marina Inc.sells and services boat motors.On
Q59: What section of the UCC governs the
Q60: For which of the following is the
Q62: Bonn,a secured party,sells collateral at a private
Q73: Which of the following is an option
Q83: What is the general priority rule established
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