Ted and Alice Own Their Recreational Vehicle Subject to a Security

question 39

Multiple Choice

Ted and Alice own their recreational vehicle subject to a security agreement to Third U.S.Bank to secure the repayment of the purchase money loan.Ted and Alice sell their RV to Bob and Carol,who agree to take over the loan payments to the bank.There is no novation with the bank.Under these facts,if Bob and Carol do not make the loan payments,Third U.S.Bank

• A)can sue Bob and Carol only.
• B)can sue Ted and Alice only.
• C)can sue Bob,Carol,Ted,and Alice.
• D)cannot sue anyone but can repossess the RV.

---

Definitions:

Application Form

A document that an individual fills out to apply for something, such as a job, loan, or program, detailing personal, educational, and professional information.

Open-Ended Questions

Questions formulated to encourage detailed, meaningful, and thoughtful responses, rather than yes-no answers or specific data.

Nondirective Interview

An interviewing technique where the respondent leads the conversation, with minimum control exerted by the interviewer.

Hypothetical Incidents

Scenarios or situations that are imagined or theoretical used to assess reactions, decisions, or behaviors in a controlled environment.