Answer:
The answer is the invention of the cotton gin.
Explanation:
In 1794, U.S.-born inventor Eli Whitney (1765-1825) patented the cotton gin, a machine that revolutionized the production of cotton by greatly speeding up the process of removing seeds from cotton fiber. By the mid-19th century, cotton had become America’s leading export. Despite its success, the gin made little money for Whitney due to patent-infringement issues.
One inadvertent result of the cotton gin’s success, however, was that it helped strengthen slavery in the South. Although the cotton gin made cotton processing less labor-intensive, it helped planters earn greater profits, prompting them to grow larger crops, which in turn required more people.
The correct answer is Lambert Adolphe Jacques Quetlet or
Adolphe Quetlet. He is known to be a Belgian astronomer, statistician,
mathematician and as well as a sociologist of which he was the first researcher
that took advantage of the criminal statistics.
Answer:
My Car: I bought my car in 2015 from one of the local dealers. The Creditors can also use my car that currently as collateral. The car registration book has my name inscribed on it hence I own the vehicle. In the event of a need for credit, the creditors would lend me money worth the car. An attachment would occur when I sign the creditor’s contract with the bank in the condition of the car as the security.
My Land: Apparently I was deemed the legal owner of the land because I possessed an authenticated original title deed pertaining to the land with my name written on it. I signed the security agreement or the credit contract and as such the bank gained interest in the collateral hence attachment.
My AC: For the AC, a similar procedure has to happen in a secured credit transaction. Given that, I have all the receipts about the AC, I can use it as collateral. The creditors can lend an equivalent value to the AC. To seal the security agreement, I would sign the credit contract hence an attachment.
For each of the three items, explain if and when perfection occurred.
According to Distenfield & Distenfield (2005), the perfection of a security interest is the act of ascertaining one’s interest in a collateral hence preventing other parties from creating an attachment to the same collateral. Such parties would include other creditors and bankruptcy trustee among others. For the land, the creditor would perfect its interest by possessing the title deed pertaining to the land. Alternatively, the creditor would perfect its interest in the land collateral by filing a financial statement with the necessary public office. Just like the land, the creditor can possess the car's registration book hence perfection. Lastly, the creditor possesses the AC collateral hence perfecting in the collateral.
Explain the priority each of the creditors would have if you defaulted on your promise to pay
In an event of my failure to pay the already secured credit transaction, the creditor would obtain the collateral in lieu of the payment. The priorities of the creditors should only pick the items listed as securities and only those he or she has a security interest. For example, the creditor cannot take personal property or the home as collateral if it was not part of credit contractual agreement.
Explanation:
True is the answer you need
The correct answer is B) it made the economy weaker.
<em>The effect that the use of credit had on the economy in the 1920s was that it made the economy weaker.
</em>
What happened in the 1920s is not complicated to understand. Due to the prosperity in the economy, the so called “Roaring 20’s” consumerism was the constant in the country. Many people began to buy what did not needed but wanted. With the use of credit, families started to buy things for the house, personal care, and new things that were advertised. With credit, they had the opportunity to pay the bills every month. But the problem was that people started to buy things that later they were not capable of paying. Consumers bought a lot of things they could not afford. That is why consumers weakened the economy in the late 1920s.
