Bonn,a Secured Party,intends to Sell Collateral at a Private Sale

question 37

Multiple Choice

Bonn,a secured party,intends to sell collateral at a private sale after the debtor defaults.Which of the following statements is false?

• A)The debtor has the right to redeem the collateral until Bonn actually disposes of it.
• B)As long as the debtor was given notice of the private sale,he cannot object to it,claiming that it is commercially unreasonable.
• C)Bonn must notify the debtor of the private sale.
• D)Bonn must notify the debtor of the time and place of the private sale.

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Definitions:

Erie Canal

The Erie Canal is a significant historical waterway in New York, opened in 1825, which played a critical role in the commercial expansion of the United States by connecting the Great Lakes to the Atlantic Ocean.

Great Lakes

are a group of five large freshwater lakes in North America, forming the largest group of freshwater lakes in the world by total area.

Upper Midwest

The Upper Midwest refers to the northern central part of the United States, including states like Minnesota, Wisconsin, and Michigan, known for its distinct seasons and agricultural productivity.

Irish Migration

The movement of Irish people to other countries, notably to the United States in the 19th and early 20th centuries, often driven by famine and economic issues.