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.

Comprehend the impact of quality improvement initiatives on internal and external failure costs.

Understand the significance of setup time reduction in manufacturing processes.

Learn the principles of ISO 9000 standards and their relevance to quality management.

Comprehend the importance of focusing on business processes to meet customer needs effectively.

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Definitions:

Liability

The state of being legally responsible for something, especially in terms of debts or legal obligations.

Forging

The illegal act of creating, altering, or imitating objects, documents, or signatures with the intent to deceive.

Collect

The action of gathering items or amounts due, often in the context of debts, payments, or data.

Consultants

Professionals who provide expert advice in a particular area, such as business, education, law, or healthcare.