Comerica Bank Is Considering Lending $50 000 to Piat Co

Multiple Choice

Comerica Bank is considering lending $50 000 to Piat Co, a farm equipment dealer that carries on business across the country and has its head office in Toronto.Piat will use the money to build an addition to its show room in Regina, Saskatchewan.Comerica wants to take a security interest in Piat's farm equipment inventory in all provinces.Which of the following best describes the searches that Comerica should do to assess the value of such a security interest? Comerica should search

A) the registries under the personal property security laws of each province and the registry under the Bank Act.
B) the registry under the Saskatchewan personal property security legislation.
C) the registries under the Saskatchewan personal property security legislation and the Bank Act.
D) the separate registries in each province for conditional sales, chattel mortgages, assignments of book debts, and under the Bank Act.
E) the registry under the Bank Act.