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1. Elaine runs the Five Brothers restaurant in Niagara Falls. She has given the bank a security interest in the restaurant assets in exchange for

1.Elaine runs the Five Brothers restaurant in Niagara Falls.

She has given the bank a security interest in the restaurant

assets in exchange for a loan on which $200 000 is

outstanding. The restaurant is not successful and, because

of a recent decline in tourism, the assets have a fair market

value of only $150 000. If Elaine decides to make an

assignment, what can the bank do to recoup its loan?

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