Seror defaulted on her loan owed to Second State Savings and Loan. The loan was secured with Seror's car. Seror used the car for personal and family reasons. Which of the following statements is correct?
A. Second State may take Seror's car without a court order even if it means a breach of the peace.
B. Second State may take Seror's car without a court onder if this can be done without a breach of the peace.
C. Second State may not take Seror's car because perfection was automatic.
D. Second State may not take Seror's car because it is a consumer good.

Question

03-07-2024
Business

Answered

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Seror defaulted on her loan owed to Second State Savings and Loan. The loan was secured with Seror's car. Seror used the car for personal and family reasons. Which of the following statements is correct?
A. Second State may take Seror's car without a court order even if it means a breach of the peace.
B. Second State may take Seror's car without a court onder if this can be done without a breach of the peace.
C. Second State may not take Seror's car because perfection was automatic.
D. Second State may not take Seror's car because it is a consumer good.

Sagot :

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