Homer owns 100% of the common and preferred shares in Homer's Recreation Inc.(HRI). HRI signed a boat loan agreement with a boat loan company, then sold the boat to Selma. The boat loan was protected by properly-registered specific security agreement, which creates a first charge on this property. What can the boat loan company do? Select all correct answers. 1) Sue Homer for deficiency 2) Seize the boat from Selma 3) Sue Homer's Recreation Inc. for deficiency 4) Sue Selma for deficiency
Homer owns 100% of the common and preferred shares in Homer's Recreation Inc.(HRI). HRI signed a boat loan agreement with a boat loan company, then sold the boat to Selma. The boat loan was protected by properly-registered specific security agreement, which creates a first charge on this property. What can the boat loan company do? Select all correct answers. 1) Sue Homer for deficiency 2) Seize the boat from Selma 3) Sue Homer's Recreation Inc. for deficiency 4) Sue Selma for deficiency
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter13: best-practice Tactics: Game Theory
Section: Chapter Questions
Problem 14E
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