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satela [25.4K]
4 years ago
8

Drew bought a computer for personal use from Hale Corp. for $3,000. Drew paid $2,000 in cash and signed a security agreement for

the balance. Hale properly filed the security agreement. Drew defaulted in paying the balance of the purchase price. Hale asked Drew to pay the balance. When Drew refused, Hale peacefully repossessed the computer. Under the UCC Secured Transactions Article, which of the following remedies will Hale have.
Business
1 answer:
Svet_ta [14]4 years ago
6 0

Answer:

Obtain a deficiency judgment against Drew for the amount owed.

Explanation:

Even though Hale repossessed the computer, it must still seek a deficiency judgment against Drew in order to recover the money owed. If Drew cannot pay his debt, he has the right to request Hale to sell the computer in order for Hale to recover the money owed.  

Repossession is one way that a lender can use to reclaim property that was put as collateral for a loan. For example, if you do not pay your car loan, the lender can simply repossess your car by taking it away without a court order. But the debtor still had the right to try to reclaim the property by paying the debt or agreeing on some type of payment procedure.

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Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate
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Answer:

<h2>r=  6.054% per year</h2>

Explanation:

given that

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r = [(\frac{A}{P} )^\frac{1}{t}  - 1]

Substituting our data into the expression and solving for r we have

r = [(\frac{18000}{10000} )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\r={1.06054-1}\\\\r= 0.06054  

Calculate rate of interest in percent

r = 0.06054* 100

r=  6.054% per year

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A major concern related to higher education’s business model is that colleges and universities cannot or will not control their
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