The promissory note and mortgage to financial institution
Course:- Financial Management
Reference No.:- EM131366941

Assignment Help
Assignment Help >> Financial Management

Elmer borrows money from Big Bank, who then assigns the promissory note and mortgage to Financial Institution for valuable consideration. Elmer isn't given notice of the assignment and continues to pay Big Bank. Financial Institution files suit, claiming Elmer is in default because Elmer failed to pay monthly payments to Financial Institution. Which of the following statements is true?

A. Financial Insitution must pay Big Bank for the payments Elmer made.

B. Big Bank must forgive Elmer's loan because they failed to notify him.

D. Financial Institution must pay Big Bank for the payments Elmer made.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Financial Management) Materials
Rob purchased a rare car for $246,800 ten years ago. Today, that car has a market value of $815,000. What is the rate of appreciation on this car? Charlie invested $7,200 in a
Company ‘1063 has a current period cash flow of $1.3 million and pays no dividends. The present value of the company’s future cash flows is $17 million. The company is entirel
Your company is planning to borrow $1 million on a 3-year, 14%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will
Given the returns of two stocks J and K in the table below over the next 4 years. Find the expected return and standard deviation of holding a portfolio of 40% of stock J and
Show the capital accounts at the end of the first year of operation for a firm that, at the beginning of the year, issued 50,000 shares of $1.50 par value common stock for $15
A for profit nursing home chain has paid a $4 per share dividend for many years and expectations are the dividends will continue at that level for years to come. If investors
In the previous problem, suppose you sell the stock a t a price of $62. What is your return? What would your return have been had you purchased the stock without margin? What
What factors affect a firm's degree of transaction exposure in a particular currency? For each factor, explain the desirable characteristics that would reduce transaction ex