MagicBank Has Lent $5000 to Horwood

Multiple Choice

MagicBank has lent $5000 to Horwood.As security for the repayment of the loan, Horwood gave MagicBank a security interest in his car.Horwood has defaulted on his payments.He still owes $4000.MagicBank has taken possession of his car.Horwood estimates that his car is worth $3000.Which of the following is FALSE?

A) MagicBank may decide to keep the car in full satisfaction of the debt owed by Horwood.
B) MagicBank may decide to sell the car.
C) MagicBank may decide to lease the car.
D) Whatever MagicBank decides to do, it must act in a commercially reasonable manner.
E) Magicbank may dispose of the car in whatever way it thinks is necessary to obtain the money it is owed.