David Is the Secured Party in a Secured Transaction with James,who

question 36

Multiple Choice

David is the secured party in a secured transaction with James,who is the debtor.The collateral is James's collection of baseball cards.David is in possession of the baseball cards.David leaves the cards on his kitchen table during a party and a guest spills beer on them and ruins them.David is 

• A) ​liable for breach of duty of reasonable care of collateral. 
• B) ​not liable for anything. 
• C) ​liable for one-third of the value of the baseball cards. 
• D) ​liable for one-half of the value of the baseball cards.

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Definitions:

Pay Attention

The act of focusing one’s mind and senses on a particular object or activity, giving it precedence over other stimuli.

Planning Phase

The initial stage in a project or activity where objectives are defined, strategies are developed, and tasks are outlined to achieve specific goals.

Conciseness

The use of the fewest words possible to convey an idea effectively, avoiding redundancy and verbosity.

Main Idea

The central point or the most important concept in a piece of writing or communication.