Refer to Fact Pattern 12-1

question 412

Multiple Choice

Refer to Fact Pattern 12-1. Assuming that Gena pledges not only her pasta makers, but also her 1/2 acre piece of property in Montclair, NJ. Once she defaults on her loan payments to First Fidelity the bank may:

• A) start judicial proceedings against her
• B) seize all of her property to settle the debt
• C) seize her non-exempt property to settle the debt
• D) start judicial proceedings against her and seize her non-exempt property to settle the debt
• E) the bank cannot do anything until it files its claim with the governor of the state

---

Definitions:

Obscure Bad News

The practice of hiding, downplaying, or obfuscating negative information to avoid negative reactions.

Limit Responsibility

The act of defining or restricting the amount of duty and accountability assigned to a person or organization.

Apologize

To express regret for an offense or fault.

Delivering Bad News

The process of conveying unfavorable or disappointing information to individuals in a sensitive and thoughtful manner.