Biology-Forums.com will be permanently shutting down December 31, 2025. For inquiries, email support@studyforce.com.

Top Posters
Since Sunday
g
1
1
Home Q & A Board Humanities Legal Studies
New Topic  
ohiosr ohiosr
wrote...
Go to Answer
Posts: 1033
Rep: 0 0
8 years ago
Use this fact situation to answer the related questions that follow.
A purchases a video business from B, who takes back a chattel mortgage on the inventory, which is composed of DVDs. The chattel mortgage states that it covers after-acquired property. B then registers this mortgage under the provincial PPSA. A few months later, A needs to purchase more DVDs and goes to his bank to borrow the money for the purchase. In turn, the bank takes a chattel mortgage for the amount of its loan, registers its chattel mortgage, and gives A the money. A then buys the DVDs.

In this case, under PPSA legislation, the bank has
a. a purchase money security interest.
b. a guarantee.
c. a chattel mortgage.
d. a promissory note.
e. a bill of exchange.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
Read 141 times
2 Replies
Replies
Answer verified by a subject expert
Existence87Existence87
wrote...
#1
Top Poster
Posts: 629
Rep: 21 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

ohiosr Author
wrote...
#2
7 years ago
Makes a lot of sense now
New Topic      
Quick Reply
Bold
Italic
Underline
Strikethrough
Subscript
Superscript
Insert Math Equation
Font Name
Font Color
Align left
Center
Align right
Bullet list
Numbered list
Insert a horizontal rule
Insert a table
Insert a Quote
View source
Explore
Post your homework questions and get free online help from our incredible volunteers
  1195 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 480
  
 596
  
 659