In Fordyce Bank and Trust v. Bean Timberland, the bank lent Bean money to buy timber from landowners. Bean gave the bank security interests in the timber, which he sold to lumber companies that milled the logs into lumber. When Bean defaulted on the loan, the bank tried to collect from the lumber companies because it had a secured interest in the timber. The courts held that the bank:
a. collects nothing from the banks because it failed to attach its interest
b. collect the unpaid balance of the loan from the timber companies, depending on how much secured timber they bought from Bean
c. collect the unpaid balance of the loan from the timber companies, which are each jointly and severally responsible under UCC 4-320, which sets strict standards for security interests
d. collect the unpaid balance of the loan from the timber companies only if it can show that the companies had been notified by the bank each time they accepted timber from Bean
e. none of the other choices
e
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Under which of the following situations can fiscal policy affect people's expectations??
A. ?If the interest rate on borrowing is higher than the interest rate on lending B. ?If the interest rate on lending is more than the interest rate on borrowing C. ?If the interest rate on borrowing and lending are the same D. ?If the interest rate on lending changes more than a change in the interest rate on borrowing
List five possible users of these statements and state what each would be interested in learning from its review
Olga is the sales rep for ATV Communication Systems. She wants to bid on the RFP issued by Manitoba University for distance learning technology. Olga knows she will need to provide the university with detailed information, demonstrations of the firm's technology, and training sessions for faculty and students. She will also need to build relationships and learn about the key members of the university's buying center. The type of buying situation is best described as a(n)
A. adapted buy. B. straight rebuy. C. new buy. D. modified rebuy. E. wholesale buy.
[The following information applies to the questions displayed below.]On January 1, Year 1, Mahoney Company borrowed $324,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $81,150.What is the amount of principal repayment included in the payment made on December 31, Year 1?
A. $81,150 B. $55,230 C. $25,920 D. $74,658