If repossessed collateral is sold or otherwise disposed of by the creditor, then the time, place, manner, and method of disposal

Question

3 years ago

6

If repossessed collateral is sold or otherwise disposed of by the creditor, then the time, place, manner, and method of disposal

must be a. court ordered. b. scheduled with the debtor so that the debtor is able to attend. c. perfected. d. commercially reasonable.

Business

1 answer:

yuradex [85] · Answer 1 · 2022-05-12T07:54:54+03:00

Answer:

d. commercially reasonable.

Explanation:

In the case when the collateral i.e. repossessed is sold and disposed off by the creditor so the time, place and the method for selling or disposal should be commercially reasonable i.e. it can be measured in monetary terms so that everyone could aware of the price at which it is disposed off

Therefore the option d is correct