If a Bank as Chattel Mortgagee Fails to Register the Mortgage

question 37

Multiple Choice

If a bank as chattel mortgagee fails to register the mortgage of a car,which of the following is false?

• A) The failure to register would not affect the rights of the chattel mortgagee against the chattel mortgagor if no third party is involved.
• B) If the chattel mortgagor would sell the car to a third party and not pay the chattel mortgagee, the third party's claim would override that of the chattel mortgagee.
• C) If a trustee in bankruptcy seizes the car from the chattel mortgagor, the trustee's claim would override that of the chattel mortgagee.
• D) A potential purchaser of the car from the chattel mortgagor would not find the bank's interest recorded in the central registry.
• E) The chattel mortgagee has lost his security and thus all his legal rights.

Understand the calculation of purchases required based on sales forecasts and inventory policies.

Learn about various components of a budget including operating, cash, merchandise purchases, and capital expenditure budgets.

Comprehend the processes involved in preparing a cash budget, including cash inflows and outflows.

Understand how to project cash receipts based on sales and credit terms.

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Definitions:

Frequency of Sexual Fantasies

A measure of how often an individual experiences sexual fantasies.

Refractory Period

A period immediately following stimulation during which a nerve or muscle is unresponsive to further stimulation.

Orgasm

A peak of sexual pleasure characterized by intense sensations and involuntary muscle contractions in the body.

Sexual Arousal

A state of both physical and mental alertness and eagerness for sexual engagement, characterized by an awareness of sexual attraction.