Discuss the rights of each party and determine which party is in the best position to prevail

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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After receiving a promotion to logistics manager, Shantil’s husband, Ashton, purchased a 2017 BMW SUV for $68,000; however, he financed $48,000 through First Florida Banc. The bank took a security interest in the vehicle. Ashton was out of town for work when Shantil found out he had been having an affair. Shantil took a baseball bat and broke the windows and put dents in the BMW.  Shantil then dropped the car off at the girlfriend’s apartment.  Ashton was furious. After taking the car to a body shop for repairs, Ashton was unable to pay the bill due to the divorce, so he negotiated terms with the body shop; however, the shop retained possession of the vehicle.   The repair shop claimed a lien on the car for services and materials in the amount of $21,250.  Ashton stopped making payments to the bank while he was trying to save money to pay off the repair.  First Florida Banc claimed priority. 

Discuss the rights of each party and determine which party is in the best position to prevail

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