[Get Answer ]-Business Law Ii Question Due Asap

Question Description


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


Demonstrates an understanding oflesson concepts


Clearly presents well-reasonedideas and concepts


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




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