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 77 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?

There are more bacteria in your mouth than there are people in the world.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo
Failure of the Equal Rights Amendment, 1972–1982 Failure of the Equal Rights Amendment, 1972–1982
Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ... Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ...
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.
5. Social contract theorists believe that the social contract is/was a historical fact. ... 5. Social contract theorists believe that the social contract is/was a historical fact. ...
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
Video: Morphology of a tomato plant

For a complete list of videos, visit our video library