Multiple Choice
Jovan Co owns a building in Winnipeg in which Saturn Shoes Inc has rented a store premises since 2000.In 2012,Galaxy Shoes Inc agreed to supply Saturn with its inventory of shoes on credit.Under its agreement with Saturn,Saturn gives Galaxy a security interest in its shoe inventory.Galaxy filed a financing statement to register its interest under the Manitoba Personal Property Security Act.No other financing statements have been registered against Saturn.Saturn has not paid its rent for two months and is in default under its agreement with Galaxy.Jovan and Galaxy both claim to be entitled to seize the shoes currently in Saturn's store.Which of the following is TRUE?
A) Galaxy is entitled to the shoes because it has a purchase money security interest in the shoes.
B) Jovan is entitled to the shoes because,as a landlord,it has a distraint right that prevails over most security interests.
C) Galaxy is entitled to the shoes because Jovan's distraint right is not given priority under the Manitoba Personal Property Security Act.
D) Jovan is entitled to the shoes because it has been Saturn's landlord longer than Galaxy has been Saturn's supplier.
E) Galaxy is entitled to the shoes because security interests always prevail over landlord's distraint rights.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Marissa Inc carries on an automobile parts
Q17: People who give guarantees are vulnerable to
Q19: Simtech Inc needs $1 million for research
Q24: Anders runs a piano store.In order to
Q25: Norman Cheese Inc operates a retail store
Q28: Jerome is a farmer who has just
Q30: In June,Alicia borrowed $10 000 from the
Q32: Baton Trucks Inc sold trucks in Alberta.Baton
Q33: Isis wants to buy a car,but cannot
Q34: Alice needed some tractors for her gardening