This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following transactions is protected by the three-day rescission rights? A) A contract ... (Read 81 times)

debasdf

  • Hero Member
  • *****
  • Posts: 570
on: Jun 24, 2018
Which of the following transactions is protected by the three-day rescission rights?
 A) A contract for a home equity line of credit.
 B) A contract for the purchase of a sofa for a home entered into at the furniture store with payments over 12 months and finance charges of 19 percent.
 C) A contract for construction of a swimming pool entered into at the pool company office with payment in cash.
 D) All of the above are covered by the three-day rescission rights.

Question 2

ABC partnership owns and operates a potato farm in Idaho. A, B, and C are the partners/owners. C is having significant personal financial problems. Savoy Stores has obtained a judgment against C in the amount of l2,341. Savoy knows that ABC is about to harvest its potatoes. When the ABC potatoes are being transported for processing, Savoy takes one-third of the potatoes to satisfy the debt. A and B object. C claims he is using the partnership property to satisfy a debt. Can C do this?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tuwy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

No. Creditors can attach the partner's interest but not the partnership property. Savoy could attach C's profits from the potatoes but not the potatoes themselves.


debasdf

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 24, 2018
Thank you


tuwy

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

The conduction system of the heart; traces the path of the electrical impulse that stimulates the he The conduction system of the heart; traces the path of the electrical impulse that stimulates the he
Failure of the Equal Rights Amendment, 1972–1982 Failure of the Equal Rights Amendment, 1972–1982
A fluorescent trouble light operates cooler and is safer to use in the shop because it is protected ... A fluorescent trouble light operates cooler and is safer to use in the shop because it is protected ...
Clients have certain rights like the rights to privacy, self-determination, and safety. Clients have certain rights like the rights to privacy, self-determination, and safety.
The Spinal Cord Is Protected by the Bony Structures of the Vertebrae. This Drawing of a Cervical Ver The Spinal Cord Is Protected by the Bony Structures of the Vertebrae. This Drawing of a Cervical Ver
Applying the bill of rights to the states Applying the bill of rights to the states
Video: Sister chromatids of a metaphase chromosome animation

For a complete list of videos, visit our video library