Marteen,Inc

question 45

Multiple Choice

Marteen,Inc.sold several wood-working machines to Crown Doors,taking a security interest in the machines.Crown defaulted on the loan.Marteen repossessed the machines.Marteen would like to retain the machines to use as models.Which of the following statements is correct?

• A) Marteen must notify the debtor that it intends to retain the machines and give Crown 20 days to object.
• B) By taking possession, Marteen automatically foreclosed on the collateral. Marteen has valid title and need do nothing else.
• C) Since the machines are equipment, Marteen cannot retain them. Marteen must dispose of the collateral in a commercially reasonable manner.
• D) Marteen can retain the machines but must pay Crown the surplus, the difference between the fair market value of the machine and the amount of the debt.

---

Definitions:

1946

A year marked by significant global and social changes following the end of World War II, including the beginning of the Cold War and the establishment of the United Nations.

To Secure These Rights

A landmark report from 1947 by the President's Committee on Civil Rights, recommending measures to ensure equal rights and eliminate discrimination.

Black Americans

A term referring to Americans with ancestry from black racial groups of Africa, often used interchangeably with African Americans.