Business, 25.12.2021 05:00, villatoroo84502
On October 2, Delilah asked Cristophe to loan her $5,000 cash, using her Ford truck as collateral. She expected to need the cash the next week, on October 9. Cristophe agreed to do so, and so on that same day (October 2), Delilah signed a security agreement giving Cristophe a security interest in her truck, and also a financing statement describing the truck as collateral. The next day, Cristophe filed the financing statement with the state. However, later that same week, October 5, Delilah ran into more financial issues, and borrowed $9,000 cash from Francine. Since Delilah needed that cash right away, she agreed to let Francine have possession of the truck that same day (October 5). On October 9, Cristophe delivered the $5000 cash to Delilah. On November 9, Delilah defaults on her loan from Cristophe.
Required:
Who has priority to the truck?
Answers: 2
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On October 2, Delilah asked Cristophe to loan her $5,000 cash, using her Ford truck as collateral. S...
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