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:
Answer: Hunting and gathering Paleoindians present in Florida, as at Warm Mineral Springs in Sarasota Co. and Page/Ladson Site in Jefferson Co.
Prejudice and Discrimination. Prejudice is an unjustified or incorrect attitude (usually negative) towards an individual based solely on the individual's membership of a social group. For example, a person may hold prejudiced views towards a certain race or gender etc. (e.g. sexist).
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