Homer owns 100% of the common and preferred shares in Homer's Recreation Inc.(HRI). HRI signed a boat loan agreement with a boat loan company, then sold the boat to Selma. The boat loan was protected by properly-registered specific security agreement, which creates a first charge on this property. What can the boat loan company do? Select all correct answers. 1) Sue Homer for deficiency 2) Seize the boat from Selma 3) Sue Homer's Recreation Inc. for deficiency 4) Sue Selma for deficiency

Homer owns 100% of the common and preferred shares in Homer's Recreation Inc.(HRI). HRI signed a boat loan agreement with a boat loan company, then sold the boat to Selma. The boat loan was protected by properly-registered specific security agreement, which creates a first charge on this property. What can the boat loan company do? Select all correct answers. 1) Sue Homer for deficiency 2) Seize the boat from Selma 3) Sue Homer's Recreation Inc. for deficiency 4) Sue Selma for deficiency

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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