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business law Priority
  • From Business, General Business
  • Due on 15 Dec, 2016 12:00:00
  • Asked On 11 Dec, 2016 01:58:36
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Steve owns a car. He decides that he needs a loan in order to improve his house, so he goes to Liv. He agrees to give Liv a security interest in the car in exchange for $4,000. Two weeks later he decides that he needs more money.

He goes to Dane. He gives Dane a security interest in the car in exchange for $10,000. Dane files a financing statement to perfect the interest. A week after that Liv does the same. Eventually, Steve defaults in his payments. The car is repossessed, and it is sold for $3,000. How much money will Dane receive? How much money will Liv receive?

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Steve owns a car. He decides that he needs a loan in order to improve his house
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  • Submitted On 11 Dec, 2016 05:09:54
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Business law Priority
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  • Submitted On 11 Dec, 2016 09:48:36
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