Wen Purchased an Automobile from Nick for $10,000

question 41

True/False

Wen purchased an automobile from Nick for $10,000. Unknown to Wen, Nick had used the automobile as security for a loan from his bank, and the bank had registered its security interest in the automobile under the provincial personal property security registration legislation. A few months after the sale, Nick defaulted on the loan, and the bank discovered that Wen was in possession of the automobile. The bank only has recourse against Nick for the amount owing.

---

Definitions:

Gram

A metric unit of mass equal to one-thousandth of a kilogram, also used in microbiology as a staining method to classify bacteria.

Pallor

The absence of color in the skin, often indicating anemia or shock, giving it a pale appearance.

Epidemic

A widespread occurrence of an infectious disease in a community at a particular time, affecting a disproportionately large number of individuals.

Prefix

An affix placed before a word to modify its meaning or create a new word.