Solved

Because of Depreciation, an Amount Received on a Sale of Collateral

Question 57

True/False

Because of depreciation, an amount received on a sale of collateral may be less than the amount owed on the debt, but a debtor who has defaulted is not likely to have the funds to pay the deficiency.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q52: Bay Marina borrows funds from Credit Union

Q53: For most collateral, possession by a secured

Q54: Business as we know it could not

Q55: With a binding agreement to extend credit,

Q56: To buy a delivery truck, Food-To-Go LLC

Q58: Ezra owns Fans & Players, a retail

Q59: To create an enforceable security interest, the

Q60: Consideration to support a simple contract is

Q61: Loan Office Inc. has a security interest

Q62: A security agreement determines most of the