Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

James bought a Mercedes from a car dealer with funds he borrowed from JP Morgan Chase Bank.Chase perfected a security interest in the car.James a

James bought a Mercedes from a car dealer with funds he borrowed from JP Morgan Chase Bank.Chase perfected a security interest in the car.James a few months later, forged a release of lien (the debt) and obtained a certified copy of the title. In reliance on that copy (certified copy of the title), Motor Cars, Inc. bought the car and sold it to Valerie, who paid with a loan from US Bank.The bank filed a financing statement to perfect its security interest.Later James's forgery was discovered.Who has priority (right to the car?) Why?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Land Law

Authors: Mark Davys

11th Edition

1352005190, 978-1352005196

More Books

Students also viewed these Law questions

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago

Question

1. Effort is important.

Answered: 1 week ago