mary loans money to her son marvelous marvin for college. in exchange he gives her his...
mary loans money to her son marvelous marvin for college. in exchange he gives her his valuable honus baseball card. marys intrest in the card...
A. Attaches and perfects immediately
B. attaches but is not perfected
C. is perfected but not attached
D. attaches and perfects only after she files a financing statement.
Homework Answers
Option C is correct. The only condition satisfied for the loan to be perfected is that Mary possesses the collateral (the baseball card) so it is perfected. However, the basic requirement for an attachment which is the debtor (in this case, Marvin) has to authenticate (or sign) a security agreement, is not met here.
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mary loans money to her son marvelous marvin for college. in
exchange he gives her his...
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This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $68,500 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses below: Cost of moving his possessions to the city (125 miles away) Interest paid on accumulated student loans Cost of purchasing a delivery uniform Contribution to State University deliveryman program $1,200 2,840 1,440 1,320 Calculate Evan's AGI and taxable income...
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