Collateral may change categories depending on its holder and how it is being used at the time
Question:
Collateral may change categories depending on its holder and how it is being used at the time of default. Classify a refrigerator in the following circumstances:
1. When sold by an appliance store;
2. When used by a restaurateur in his business; and
3. When installed in a homeowner’s kitchen.
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Related Book For
Business Law and the Legal Environment
ISBN: 978-1337736954
8th edition
Authors: Jeffrey F. Beatty, Susan S. Samuelson, Patricia Sanchez Abril
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