Toula is buying a delivery vehicle for her business and it will be available for her to pick up on Tuesday.On Monday,the day before her car is ready,Toula meets with her banker to complete the application for a small business loan.Can Toula use the delivery truck as collateral for the loan?

Question

Quizplus · Accepted Answer

A)The right to encumber goods as collateral for a debt is dependent on who is
holding title.When title passes is important because having title means that one can then sell or encumber the goods.
B)The right to encumber goods as collateral for a debt is dependent on who is holding title.When title passes is important because having title means that one can then sell or encumber the goods.
C)The right to encumber goods as collateral for a debt is dependent on who is holding title.When title passes is important because having title means that one can then sell or encumber the goods.
D)The right to encumber goods as collateral for a debt is dependent on who is holding title.When title passes is important because having title means that one can then sell or encumber the goods.
E)The right to encumber goods as collateral for a debt is dependent on who is holding title.When title passes is important because having title means that one can then sell or encumber the goods.

Toula Is Buying a Delivery Vehicle for Her Business and It