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Home Q & A Board Humanities Legal Studies
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sah00441515 sah00441515
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6 years ago
First Bank loaned 400,000 to Thomas, taking a security interest in his yacht. Thomas defaulted on the loan and First Bank repossessed the boat. First Bank sold the yacht at a public sale. The sale yielded 50,000 more than the debt. First Bank
 A) must pay Thomas the 50,000.
 B) is entitled keep the 50,000.
 C) must share the 50,000 equally with Thomas.
 D) must pay the surplus to the Secretary of State.
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Amberalmonte3Amberalmonte3
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6 years ago
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sah00441515 Author
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6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
veronee_madison
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Yesterday
Smart ... Thanks!
hpascoe
wrote...

2 hours ago
Good timing, thanks!
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