Question: PRA Aviation, LLC, borrowed $3 million from Center Capital Corp. to buy a Gates Learjet 55B. Center perfected a security interest in the plane. Later, PRA defaulted on the loan, and Center obtained possession of the jet. The market, design, and mechanical condition of similar aircraft were reviewed to estimate the jet's value at $1.45 million. The jet was marketed in trade publications, on the Internet, and by direct advertising to select customers for $1.595 million. There were three offers. Center sold the jet to the high bidder for $1.3 million. Was the sale commercially reasonable? Explain.
Hire Competent Tutors To Avail Commercial Sale Assignment Help Service To Secure Top-Notch Grades At Low Prices!
Tags: Commercial Sale Assignment Help, Commercial Sale Homework Help, Commercial Sale Coursework, Commercial Sale Solved Assignments