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Question and answer
Kerin obtains a property insurance policy for her art collection from Lawton Insurance Company. Kerin can cancel the policy (Points : 5) at any time. only at the end of a period for
which a premium has been paid. only if Kerin no longer has an insurable interest in the property. only on advance written notice.
The answer is any time.
Expert answered|paral|Points 2125|
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Asked 9/18/2012 10:51:50 AM
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You are the chief executive officer of Money Games Inc.(MGI), which has begun to market Borrow & Spend, a video game set in the world of finance. To buy ads, MGI borrows $50,000 from First Savings Bank. On MGI's behalf, you sign a note for the loan and offer its accounts receivable as collateral. You sign a security agreement that describes the collateral. The bank does not file a financing statement. Has the banks security interest attached?
Weegy: The bank's security interest has attached, but it has not perfected its security interest. [ [ Typically in a closing for a secured loan, the borrower executes and delivers the note and security agreement and then the bank authorizes the release of the funds to the borrower. When the funds are released, the bank's security interest has attached because it has an executed security agreement describing the collateral and has given something of value for the secured interest (the loan). While the bank has a secured claim on the borrowers accounts receivable if there is a default on the loan, it has not perfected its security interest until it files the financing statement in the proper jurisdiction which would be the jurisdiction of incorporation of the corporation. Until it perfects its security interest, its claim against the accounts receivable will be subordinate to claims of other secured creditors who have perfected their security interest and it may lose priority to other creditors who perfected ahead of it. ] (More)
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Expert Answered
Asked 9/11/2012 9:21:57 AM
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Agile Corporation borrows $1 million from Hi Finance Company (HFC). Agile signs a financing statement that describes the collateral, its inventory and proceeds, and HFC files the statement in the appropriate state office. Using the same collateral, Agile later borrows $500,000 from Metro Bank, which files its financing statement. Agile defaults on the loans. Metro claims that at the time of its loan it was unaware of HFCs interest. Between these parties, who has priority to the collateral?
Weegy: who ever filed their secured interest first.the one that first filed their collateral agreement in proper legal form in the proper government office. after such a proper filing, [ all subsequent interested parties are assumed under law to have had actual notice of the collateral agreement ... that's what the public filing process is for. judgment for HFC. ps - the State's Attorney or similar may wish to prosecute the executives of Agile corp. for felony fraud relating to the bank loan - they KNEW the collateral was already encumbered when they went to get the bank loan. ] (More)
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Asked 9/11/2012 9:53:11 AM
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Define and interpret this concept in your own words, and explain under what conditions and in what relationships showing grace is appropriate and inappropriate.
Weegy: Grace is God coming down to move people to places of physical and/or spiritual well-being. Example of the relationships involved; "Noah was a righteous man, blameless among the people of his time, [ and he walked with God." (Genesis 6:9) God decided to move Noah and his family to a place of safety - the Ark - and to preserve them through the flood that destroyed the corrupt and wicked generation back then (verses 11-12). Noah had to believe God and carry out God's instructions, yet the act of saving that family was not due to Noah meriting God's favour, but because "Noah found grace in the eyes of the Lord." (verse 8) The Genesis account goes on to show just how flawed Noah was. He wasn't perfect! ] (More)
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Asked 9/12/2012 9:09:55 PM
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what is the mean of grace
Weegy: Grace is defined as seemingly effortless beauty or charm of movement, form, or proportion. A characteristic or quality pleasing for its charm or refinement. (More)
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Asked 9/12/2012 9:43:15 PM
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