Some Provinces Have Provided Relief to Conditional Buyers by

question 10

Multiple Choice

Some provinces have provided relief to conditional buyers by

• A) making the buyer liable for any deficiency after resale of the goods.
• B) allowing the use of the acceleration clause.
• C) knowing that the resale of chattels to be "value destructive", they have required the conditional seller to turn over any surplus realized.
• D) not allowing any equity position to accumulate with progression of payments.
• E) giving recovery rights when debt is paid within a given period of time.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in a ledger but have not yet been cashed or cleared by the bank.

Outstanding Deposit

Funds that have been deposited but not yet credited to the depositor's account.

Check Register

A record maintained by the account holder of checks written, deposits made, and current balance, used for managing a checking account.

Writing Checks

The process of completing and signing a check as a means of making a payment from a bank account.