[Get Answer ]-Business Law Ii Question Due Asap

Question Description

                                              Priority

Steve owns a car. He decides thathe needs a loan in order to improve his house, so he goes to Liv. He agrees togive Liv a security interest in the car in exchange for $4,000. Two weeks laterhe decides that he needs more money.

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He goes to Dane. He gives Dane asecurity interest in the car in exchange for $10,000. Dane files a financingstatement to perfect the interest. A week after that Liv does the same.Eventually, Steve defaults in his payments. The car is reposed, and it is soldfor $3,000. How much money will Dane receive? How much money will Liv receive?

Grading Criteria Assignments

Maximum Points

Meets or exceeds establishedassignment criteria

40

Demonstrates an understanding oflesson concepts

20

Clearly presents well-reasonedideas and concepts

30

Uses proper mechanics,punctuation, sentence structure, spelling, and APA style

10

Total

100

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