Governments that are temporarily short of cash but that have levied taxes expected to be collectible during the fiscal year are generally able to borrow on short-term notes known as "tax anticipation notes payable."
Answer the following statement true (T) or false (F)
True
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Wedney, Inc sold a meat processing machine to Yoro Chickens, taking a security interest in the machine. Yoro Chickens defaulted on the loan. Wedney repossessed the machine. Wedney would like to retain the machine to use as a model. Which of the following statements is correct?
a. Wedney must notify the debtor that it intends to retain the machine and give Yoro 20 days to object. b. By taking possession, Wedney automatically foreclosed on the collateral. Wedney has valid title and need do nothing else. c. Since the machine is equipment, Wedney cannot retain the machine. Wedney must dispose of the collateral in a commercially reasonable manner. d. Wedney can retain the machine but must pay Yoro the surplus, the difference between the fair market value of the machine and the amount of the debt.
American courts generally will enforce a gambling agreement
a. True b. False Indicate whether the statement is true or false
Attachment gives the creditor an enforceable security interest in the collateral.
Answer the following statement true (T) or false (F)
Describe the three phases of development for supply chain concept