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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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1.sex and ethnicity 2.social cognition. 3.ethnocentrism 4.All of these answers are correct. 5.prejudice and poverty.

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Quiz

1.sex and ethnicity 2.social cognition. 3.ethnocen

Chapter 30 1 Secured Transactions

Chapter 30 1 Secured Transactions

Q 1) Why is having "priority" so important to a secured party? 2) In the event that a debtor files for bankruptcy after entering into a secured transaction who would have priority as to the collateral...the US Bankruptcy Court (who will sell the asset for the benefit of all the creditors) or the secured party (who will repossess the collateral for his or her own benefit)?

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Having “priority” is so important to a secured party because there can be the extension of credit against the collateral obtained/achieved by the secured party. The economic targets can also be achieved if there is “priority” given the preference. There would be equilibrium in the conditions of the market. Financial institutions like banks can be considered to be secured parties. Hence, such bodies will always require more protection/security.