This topic contains a solution. Click here to go to the answer

Author Question: Forever Yours, Inc has a secured and perfected security interest in Sally's big-screen TV. On the ... (Read 118 times)

Alygatorr01285

  • Hero Member
  • *****
  • Posts: 564
Forever Yours, Inc has a secured and perfected security interest in Sally's big-screen TV. On the filing date of Sally's Chapter 7 petition, the balance of the debt owed to Forever Yours is 2,000. The value of the TV is estimated at 1,500. This means that Forever Yours
 A)is secured for the entire debt, 2,000.
 B)is unsecured for 500, the excess of the debt over the value of the TV.
 C)has a high priority claim of 500. This means that Forever Yours, Inc. will be allowed 500 worth of other unsecured property before other unsecured creditors get anything.
 D)is unsecured for the entire debt.

Question 2

If A's ocean cargo is thrown overboard in order to save a sinking ship and B's cargo is saved as a result, B must contribute to A for the loss.
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bpool94

  • Sr. Member
  • ****
  • Posts: 354
Answer to Question 1

B

Answer to Question 2

TRUE




Alygatorr01285

  • Member
  • Posts: 564
Reply 2 on: Jun 24, 2018
:D TYSM


ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

For a complete list of videos, visit our video library