Author Question: Great State Bank and First Federal Bank have a security interest in TriColor's equipment. If neither ... (Read 122 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?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

For a complete list of videos, visit our video library