1. Elaine runs the Five Brothers restaurant in Niagara Falls. She has given the bank a security...
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Question:
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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