Author Question: Great State Bank and First Federal Bank have a security interest in TriColor's equipment. If neither ... (Read 54 times)

eruditmonkey@yahoo.com

  • Hero Member
  • *****
  • Posts: 546
Great State Bank and First Federal Bank have a security interest in TriColor's equipment. If neither secured party is perfected, the first to sue or repossess has priority over the collateral.
  Indicate whether the statement is true or false

Question 2

Maddie enters into a secured consumer debt transaction with Friendly Bank. When Maddie pays the loan in full, Friendly Bank is required to file a statement indicating that it no longer claims a secured interest in the collateral.
  Indicate whether the statement is true or false



sarah_brady415

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

FALSE

Answer to Question 2

TRUE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

For a complete list of videos, visit our video library