Batch Department store sold a refrigerator to Conrad for his home. Conrad agreed to installment payments and Batch had him sign a security agreement. Batch did not file a financing statement. After having the refrigerator in his home for a time, Conrad quit making payments and sold it to Backus for use in her home. Backus was unaware that Conrad still owed Batch for the refrigerator. Batch is now seeking to get paid for the balance owed or to repossess the refrigerator. Which of the following statements is correct?
A. Batch can repossess the refrigerator from Backus, and Backus has the right to recover her money from Conrad.
B. Batch can repossess the refrigerator from Backus, but Backus has no right to recover her money from Conrad.
C. Batch has no right to repossess the refrigerator from Backus.
D. Batch has the legal right to collect from Backus the unpaid balance.
C. Batch has no right to repossess the refrigerator from Backus.
You might also like to view...
Which of the following statements is a reason why U.S. retailers avoid opening stores in the inner city?
A. The retailers keep away from the inner city because of stringent government regulations. B. The retailers keep away from the inner city because of the lack of competent human resources. C. The retailers keep away from the inner city because of complications in the supply chain. D. The retailers think these stores are riskier and produce lower returns than other areas. E. The retailers keep away from the inner city because of the rising cost of real estate.
According to Professor Amabile, an increase in knowledge leads to higher levels of ______.
A. originality B. creativity C. inventiveness D. vision
On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the
A) Uncollectible accounts expense for the year B) total of the accounts receivables written-off during the year C) total estimated uncollectible accounts as of the end of the year D) sum of all accounts that are past due.
Stacey and Eva each own one-half of the stock in Parakeet Corporation, a calendar year taxpayer. Cash distributions from Parakeet are $350,000 to Stacey on April 1 and $150,000 to Eva on May 1. If Parakeet’s current E & P is $60,000, how much is allocated to Eva’s distribution?
A. $5,000 B. $10,000 C. $18,000 D. $30,000 E. None of these.