Essay
Diane,who is seventeen years old,purchased an auto from Elvira on credit.Florence agreed to act as surety and signed a written surety agreement.At the time of purchase,Diane specifically asked Elvira about the condition of the car's motor and was told that it had just been replaced with a new one and was in fine condition.This was blatantly untrue,because Elvira knew it was in terrible shape and would only last a short time.The auto has now stopped running and Diane refuses to make any more payments.Elvira is now proceeding against Diane and Florence.What defenses,if any are available to (a)Diane and (b)Florence?
Correct Answer:

Verified
a.Diane is a minor.She may assert her mi...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q76: A purchase money security interest in equipment
Q77: A perfected security interest has priority over:<br>A)
Q78: Article 9 of the UCC would govern
Q79: Willow Bank repossessed Parker's television after he
Q80: Because of the _,the contractual promise of
Q81: A security interest in consumer goods,except motor
Q82: Jack and Karin are cosureties on a
Q83: Upon the surety's payment of the principal
Q85: A security agreement may include only presently
Q86: A _ bond is provided on behalf