A Company Named Printers World Ltd

question 100

Multiple Choice

A company named Printers World Ltd. bought a $9000 plotter secured by a Security Agreement and, because of business reverses, is unable to make the payments. Which of the following is accurate with respect to the legal position of the parties?

• A) The seller could seize the goods only if it obtained a court order.
• B) The seller could seize the goods without a court order only if it had properly registered the conditional sale contract.
• C) The seller could seize the goods but, before resale can take place, the debtor must be given notice and an opportunity to redeem.
• D) The seller could only seize the goods and could not instead opt to sue the company.
• E) The seller could seize and sell the same day because it had already waited three months after default before taking any action.

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Definitions:

Interest Rate

The cost of borrowing money, expressed as a percentage of the amount borrowed, paid by the borrower to the lender for the use of their funds.

Aggregate Demand

The comprehensive demand for every type of good and service within an economy, identified at a given price level and time period.

Investment

is the allocation of resources, usually money, in expectation of earning a future return.

GDP Gap

The difference between the actual GDP and the potential GDP of an economy, indicating under-utilization or over-utilization of resources.