elly sold his car to Buyie for 120,000 payable in 12 equal installments of 10,000 each month. As a security Buyie executed a chattel mortgage on the car. What is the remedy if he defaulted to pay one installment? a. Exact fulfillment b. Cancel the sale c. Foreclose the chattel d. All of the above
elly sold his car to Buyie for 120,000 payable in 12 equal installments of 10,000 each month. As a security Buyie executed a chattel mortgage on the car. What is the remedy if he defaulted to pay one installment? a. Exact fulfillment b. Cancel the sale c. Foreclose the chattel d. All of the above
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 38P
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Question
Selly sold his car to Buyie for 120,000 payable in 12 equal installments of
10,000 each month. As a security Buyie executed a chattel mortgage on the car.
What is the remedy if he defaulted to pay one installment?
a. Exact fulfillment
b. Cancel the sale
c. Foreclose the chattel
d. All of the above
e. None of the Above
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