A Company Named Printers World Ltd

question 110

Multiple Choice

A company named Printers World Ltd.bought a $9000 plotter under a conditional sale contract and,because of business reverses,is unable to make the payments.Which of the following is accurate with respect to the legal position of the parties?

• A) The seller could seize the goods only if it obtained a court order.
• B) The seller could seize the goods without a court order only if it had properly registered the conditional sale contract.
• C) The seller could seize the goods but, before resale can take place, the debtor must be given notice and an opportunity to redeem.
• D) The seller could only seize the goods, and could not instead opt to sue the company.
• E) The seller could seize and sell the same day because it had already waited three months after default before taking any action.

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Definitions:

Market Basket

A market basket is a collection of goods and services used to track price changes and inflation within an economy.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Commerce Department

A department within a government responsible for regulating, promoting, and facilitating trade and commerce activities.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, often used as an indicator of inflation.