What are the rights of Lincoln, Donaldson, Carter, and Thompson? What can the parties do to best protect themselves?
ASSIGNMENT 1.On May 1, Lincoln lends Donaldson $200,000 and receives from Donaldson his agreement to pay this amount in two years and takes a security interest in the machinery and equipment in Donaldson’s factory. A proper financing statement is filed with respect to the security agreement. On August 1, upon Lincoln’s request, Donaldson executes an […]