Fact Pattern 29-2BGeneral Leasing Company (GLC) buys equipment for use as inventory, borrowing $1 million from Helpful Finance Corporation for a security interest in the equipment. The next day, GLC borrows $500,000 from Interstate Bank, also for a security interest in the equipment. GLC defaults on both loans.Refer to Fact Pattern 29-2B. Suppose that two weeks after GLC takes possession of the equipment, Helpful and Interstate file financing statements, with Interstate filing first. In that circumstance, the party with priority to the equipment is
A. GLC.
B. Helpful and Interstate proportionately.
C. Helpful only.
D. Interstate only.
Answer: D
You might also like to view...
According to a major study of more than 1,000 commercials, the single most important factor in whether a commercial will be persuasive is whether the communication ________
A) stresses a unique attribute of benefit of the product B) employs a sexual symbol or suggestion C) provides specific price information D) features a credible spokesperson
Try to avoid attachments for e-mail
a. true b. false
A retailer has a detailed labeling system on all toy products aimed at children less than 5 years old. This illustrates the right to _____
a. be informed b. redress c. choose d. service
Explain the meaning of environmental scanning. Which constituents of the environment, from the viewpoint of a corporation, require scanning?
What will be an ideal response?