The duties of the bank in this scenario would include providing the loan to Zeke as agreed,
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Question:
The duties of the bank in this scenario would include providing the loan to Zeke as agreed, taking possession of the delivery truck if Zeke defaults on the loan, and selling the truck in accordance with the terms of the chattel mortgage.
The rights of the bank in this scenario would include the right to take possession of the delivery truck if Zeke defaults on the loan, and the right to sue Zeke's wife for the remaining amount owed on the loan if the proceeds from the sale of the truck are not enough to cover the full amount of the loan.
The duties of Zeke's wife in this scenario would include being responsible for the loan if Zeke defaults on it, as agreed in the promissory note that she signed
The rights of Zeke's wife in this scenario are not specified in the information provided, but she may have the right to seek legal advice or challenge the bank's lawsuit against her.
In this case, it is likely that the bank would be successful in its lawsuit against Zeke's wife, and she would be required to pay the remaining amount owed on the loan.
Decision
Zeke's wife have been concluded that the bank would be successful in its lawsuit against Zeke's wife, and she would be required to pay the remaining amount owed on the loan.
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