What will be your bidding strategy at the sale

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Reference no: EM133696583

Assume that instead of representing Lindsey Simon, you represent BCA in its attempt to collect the $45,000 judgment. You assess the value of the boat at $32,000. The sheriff's sale is set for March 29, just a few days from now. In preparation for bidding at the sale, you conducted a UCC search and discovered Lindsey Simon's financing statement. Because you believe that a deficiency judgment against Henry Karwowski may be collectible, you don't want to bid higher than the value of Karwowski's equity in the boat. But to know how much that is you need to know the amount secured by Simon's interest. When you called Simon, she said she would have to consult her attorney before giving you that information. Although she said she would call you back, you have not heard from her.

a. How do you plan to get the information? UCC §9-210.

b. If you can't get the information, what will be your bidding strategy at the sale? UCC §§9-323(b) and (d).

c. Can a court help you with this problem? UCC §9-625(a).

Reference no: EM133696583

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