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Lorico [155]
3 years ago
7

A science grant available to college juniors or seniors is the?

Business
1 answer:
77julia77 [94]3 years ago
6 0
The National SMART grant <span />
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Chutney Channel is a small organization based in Canada that sells specialty condiments made from local ingredients to a wide ar
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3 years ago
A _____ negotiates with users who might have conflicting requirements or want changes that would require additional time or expe
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2 years ago
On June 15, Harper purchased equipment for $100,000 from Imperial Corp. and signed for the goods as President of the company. He
Ivenika [448]

<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.

6 0
3 years ago
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