Problemabigail needs 2500 to buy furniture for her new, Ask an Expert

Management Studies

Problem:

Abigail needs $2,500 to buy furniture for her new apartment. Brendan agrees to loan Abigail $2,500, accepting as collateral Abigail's antique necklace. They put their agreement in writing and sign it. Abigail keeps possession of the necklace.

Question 1) Does Brendan have an enforceable security interest? Explain in detail why or why not.

Question 2) How can Brendan let other creditors know of his interest in the necklace? Explain the process in detail. Solve the problem and show all work.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91164697

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