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Author Question: Great State Bank and First Federal Bank have a security interest in TriColor's equipment. If neither ... (Read 102 times)

eruditmonkey@yahoo.com

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on: Jun 24, 2018
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

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Reply #1 on: Jun 24, 2018
Answer to Question 1

FALSE

Answer to Question 2

TRUE


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eruditmonkey@yahoo.com

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Reply #2 on: Jun 24, 2018
Thank you :)


sarah_brady415

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Reply #3 on: Jun 24, 2018
Happy to help you


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