Ask Question
7 February, 10:40

At her neighbor's garage sale, Constance buys a vanity dressing table from her neighbor, Carlos, for $160. Constance purchased the vanity table for her own personal use, without any knowledge that Carlos had signed a security agreement giving All Purpose Furniture, Inc. a security interest in the vanity table. All Purpose Furniture did not file a financing statement. Constance does not know that Carlos is still paying off the purchase money security interest and owes All Purpose Furniture, Inc. $400. Under these circumstances

+1
Answers (1)
  1. 7 February, 13:24
    0
    Answer and Explanation:

    Constance keeps the table independently of the financial interest of All-Purpose, as she is a consumer products customer.

    In this type of situation, Constance purchases the dining table from a sale, without knowing that Carlos agreed for an agreement and mortgage the table for that.

    In this situation, Constance is not liable for Carlos's loan.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At her neighbor's garage sale, Constance buys a vanity dressing table from her neighbor, Carlos, for $160. Constance purchased the vanity ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers