Doe Purchased an Automobile from Jones for $1,000

question 33

True/False

Doe purchased an automobile from Jones for $1,000.Unknown to Doe,Jones had used the automobile as security for a loan from his bank,and the bank had registered its security interest in the automobile under the provincial personal property security registration legislation.A few months after the sale,Jones defaulted on the loan,and the bank discovered that Doe was in possession of the automobile.
-The bank has recourse against only Jones for the amount owing.

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