Which of the Following Did the Court Determine on Appeal

question 42

Multiple Choice

Which of the following did the court determine on appeal in Wawel Savings Bank v. Jersey Tractor Trailer Training Inc., the case in the text in which a lender who perfected an interest in a debtor's collateral claimed to have priority in bankruptcy over an entity who later entered into an agreement whereby it purchased rights to the debtor's accounts receivables?

• A) Under the "first in time" rule, the court ruled in favor of the lender who perfected the interest in the debtor's collateral.
• B) Under the "first to file" rule, the court ruled in favor of the lender who perfected the interest in the debtor's collateral.
• C) The court ruled in favor of the purchaser of receivables on the basis that the agreement the lender had with the debtor did not expressly prohibit the sale of receivables.
• D) The court ruled in favor of the purchaser of receivables on the basis that an immediate transaction for value was involved.
• E) The court remanded the case for a determination as to whether the purchaser of receivables was a holder in due course or a purchaser of instruments, in which case it would prevail.

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Definitions:

Epiphysis

The end part of a long bone, which is originally growing separately from the shaft but later fuses with it through ossification during growth.

Endoskeletons

Endoskeletons are internal skeletal structures composed of mineralized tissues, providing support and protection to organisms, as seen in vertebrates.

Ecdysis

The process of molting or shedding an outer cuticle layer, allowing for growth in arthropods and certain other invertebrates.

Slow-oxidative Fibers

Muscle fibers that are fatigue-resistant, have high mitochondrial density, and primarily use aerobic respiration for energy, suitable for endurance activities.