Use This Fact Situation to Answer the Related Questions That

question 19

Multiple Choice

Use this fact situation to answer the related questions that follow. A purchases a video business from B,who takes back a chattel mortgage on the inventory,which is composed of DVDs.The chattel mortgage states that it covers after-acquired property.B then registers this mortgage under the provincial PPSA.A few months later,A needs to purchase more DVDs and goes to his bank to borrow the money for the purchase.In turn,the bank takes a chattel mortgage for the amount of its loan,registers its chattel mortgage,and gives A the money.A then buys the DVDs.
In this case,under PPSA legislation,the bank has

• A)a purchase money security interest.
• B)a guarantee.
• C)a chattel mortgage.
• D)a promissory note.
• E)a bill of exchange.

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Definitions:

Authoritative Parents

Parents who combine warmth and sensitivity with firmness in their parenting style, often leading to high levels of self-reliance and social competence in their children.

Self-Reliance

The reliance on one's own powers and resources rather than those of others.

Low Self-Esteem

A condition where an individual harbors negative views about their worth and capabilities, often affecting their mental wellbeing and social interactions.

Social Dominance

The degree of influence, power, or superiority one individual or group holds over others within a social hierarchy.