<u>Full question:</u>
On June 15, Harper purchased equipment for $100,000 from Imperial Corp. for use in its manufacturing process. Harper paid for the equipment with funds borrowed from Eastern Bank. Harper gave Eastern a security agreement and financing statement covering Harper’s existing and after-acquired equipment. On June 21, Harper was petitioned involuntarily into bankruptcy under Chapter 7 of the Federal Bankruptcy Code. A bankruptcy trustee was appointed. On June 23, Eastern filed the financing statement. Which of the parties will have a superior security interest in the equipment?
A. The trustee in bankruptcy, because the filing of the financing statement after the commencement of the bankruptcy case would be deemed a preferential transfer.
B. The trustee in bankruptcy, because the trustee became a lien creditor before Eastern perfected its security interest.
C. Eastern, because it had a perfected purchase money security interest without having to file a financing statement.
D. Eastern, because it perfected its security interest within the permissible time limits.
<u>Answer:</u>
Eastern parties will have a superior security interest in the equipment because it perfected its security interest within the permissible time limits.
<u>Explanation:</u>
Eastern has a higher security interest because Eastern amended its security interest inside the allowable time deadlines. A perfected security interest in any security interest in an asset that cannot be demanded by any other party.
Below the Uniform Commercial Code (U.C.C.), to perfect a security interest, a lender has 10 days from the date of the sale of material to perfect the security interest by filing a financing statement. Possessing registered in the 10-day limit, Eastern has a strong perfected security interest in the material and after-acquired things even though the bankruptcy was recorded two days ahead.
Surplus hope it helps since you did not put any choices ......
Answer:
The forces of demand and supply in the market will pull the foreign exchange market into equilibrium.
Explanation:
When there is a surplus of dollar in the foreign exchange market the forces of demand and supply will pull the foreign exchange market into equilibrium.<em> i.e. The exchange rate will be reduced to bring the exchange market to equilibrium. </em> without change in demand or supply.
attached below is the required graph.
Answer:
Total transportation cost = 23,750
Explanation:
We can calculate how many cars should be sent from each plant to each dealer as follows
DATA
Plant 1 cars = 74
Plant 2 cars = 70
Demand
Dealer A needs 79 cars
dealer B needs 65
Shipping costs are
$300 per car from plant I to dealer A,
$130 per car from plant I to dealer B,
$180 per car from plant II to dealer A
$160 per car from plant II to dealer B.
limit total shipping costs to exactly $29,900
Start from the cheapest
$130 per car from plant I to dealer B.
$130 x 65 = 8,450
$180 per car from plant II to dealer A
$180 x 70 = 12,600
$300 per car from plant I to dealer A,
$300 x 9 = 2700
Total transportation cost = 8,450 + 12,600 + 2700
Total transportation cost = 23,750
$560 I just took the test on primavera and this was right.
