A Company Named Printers World Ltd

question 100

Multiple Choice

A company named Printers World Ltd. bought a $9000 plotter secured by a Security Agreement 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.

Appreciate the role of specialization and labor division in economic exchange.

Explain the evolution of money from barter to contemporary forms.

Understand the concept of double coincidence of wants in barter systems.

Analyze the impact of the variety of goods on the feasibility of barter and monetary exchanges.

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Definitions:

Sarbanes-Oxley

A U.S. law enacted to protect investors by improving the accuracy and reliability of corporate disclosures.

Public Confidence

is the trust and belief the general public holds in the stability and integrity of institutions, markets, and systems.

Petty Cash Fund

A small amount of cash kept on hand to pay for minor, incidental expenses.

Relatively Large Amounts

Describes financial figures or transactions that are significant in size compared to others within the same context.