Joshua Had a Licence to Operate a Nursing Home in Scarborough.Under

question 25

Essay

Joshua had a licence to operate a nursing home in Scarborough.Under the legislation setting up the licensing scheme, the licence was fully transferable at the request of the licensee.Indeed, licences were bought and sold all the time along with the nursing home businesses that they related to.The licence could only be revoked on limited grounds by the responsible agency of the government of Ontario, and there was a right to appeal any decision to revoke the licence.Under the licence, Joshua operated Green Acres Nursing Home.In order to finance the building of an addition to the nursing home, Joshua borrowed $75 000 from the Bank of Ontario.As security for the loan, he gave the bank a security interest in all his personal property.A few months after he received the loan, Joshua defaulted.Can the bank seize the licence along with Joshua's other personal property?

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Definitions:

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space if these events happen with a known constant mean rate and independently of the time since the last event.

Occurrences

Instances or examples of something happening; events that take place.

Specified Interval

A defined range or period, often set for a particular purpose or task, indicating the precise limits within which something operates or occurs.

Binomial Experiment

An experiment having the four properties stated at the beginning of Section 5.5.