46) Tyler Prairie borrows money from City Bank to purchase inventory for his business, Farmers Galore. The bank takes a security interest in all of Tyler's inventory. Farmer Fiona purchases a tractor from Tyler. Which of the following is true?

Select one:

a. City Bank's security interest in the tractor automatically switches to a security interest in Tyler's car.

b. City Bank retains its security interest in the tractor that Fiona now owns.

c. City Bank has an automatic security interest in the proceeds from the sale of the tractor for a limited time.

47)Woody is excited to be appointed to the Board of Directors of Galaxy and Beyond, Inc. As a director, Woody

Select one:

a. Will assist in day to day operations of the corporation.

b.Will appoint the officers of the corporation.

c. Will hire the managers of the corporation.

48)Merriweather and Sadweather are partners. One day, feeling particularly sad, Sadweather purchases a 55" LED television and a leather couch for their office. Merriweather objects and refuses to pay. Which of the following is true?

Select one:

a. The partnership will deduct the cost of the furniture from Sadweather's share of the profits.

b. Sadweather must remove the television from the office.

c. The partnership must pay for the items because Sadweather is an agent of the partnership.

49)In 2019 Mafioso Bank loaned $400,000 to Malik, taking a security interest in his yacht. In January of 2020, Malik borrowed $100,000 from his cousin Bubba and gives him a security interest in the same yacht. When Malik defaults on his loan to the Bank, the Bank repossesses and sells the yacht for$450,000. The Bank

Select one:

a. Must pay the $50,000 to Bubba.

b. Must pay the $50,000 to the Secretary of State.