Author Question: When there are two perfected secured creditors in the same collateral: ______. A) priority goes to ... (Read 145 times)

Bob-Dole · **on:** Jun 24, 2018

When there are two perfected secured creditors in the same collateral: ______.
A) priority goes to the creditor who perfected first.
B) priority goes to the creditor who is owed the greatest amount of money.
C) each perfected secured creditor has a 50 interest in the collateral.
D) both perfected secured creditors are treated like unsecured creditors in regards to the collateral.

Question 2

The City of Page refused Specht's application for a variance to operate a car dealership in a commercial area of the city. Later, when a new dealer offered to buy a 2.5acre parcel of city land for use as a car dealership (in the same area), the city granted a variance. What result?

elyse44 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

A

Answer to Question 2

Students should discuss the following:
1. What types of exceptions to zoning exist?

2. Who makes exceptions?

3. What are standards for exceptions?

4. When will the court reverse a refusal (arbitrariness, etc.)?

In this unreported Arizona case, the court held the Board had acted arbitrarily and required that the variance for the buyer be denied.