Question
Zia wanted to buy a camping trailer. She didn't have enough money to pay for a brand-new trailer, so she approached her Bank for a
Zia wanted to buy a camping trailer. She didn't have enough money to pay for a brand-new trailer, so she approached her Bank for a loan.Zia and the Bank negotiated a loan agreement. The Bank then completed and filed a financing statement at the Personal Property Registry office.
A)With respect to the camping trailer, what kind of creditor is the Bank?
B)Filing the Financing Statement gives ___________________ to subsequent secured creditors
Zia sold her camping trailer to Tamu but Zia still had $6000 left to pay on her bank loan. Zia then stopped paying on her loan.
C)What remedy, if any, does the Bank have with respect to Zia's unpaid loan? Why?
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