Delgado is a retail seller of television sets. He sells a color television set to Cummings for

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Delgado is a retail seller of television sets. He sells a color television set to Cummings for $600. Cummings cannot pay cash, so she signs a security agreement, paying $100 down and agreeing to pay the balance in twelve equal installments of $50 each. The security agreement gives Delgado a security interest in the television set sold.Cummings makes six payments on time; then she goes into default because of unexpected financial problems. Delgado repossesses the set and wants to keep it in full satisfaction of the debt. Discuss Delgado’s rights and duties in this matter.

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Business Law Text and Cases

ISBN: 978-0324655223

11th Edition

Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F

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