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Mr. Gregory White
Mr. Gregory White, Master's Degree
Category: Essays
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Experience:  M.A., M.S. Education / Educational Administration
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Little Oil is an oil-drilling company that has defaulted on

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Little Oil is an oil-drilling company that has defaulted on several of its loans. Giantoil Oil Refining is owed $230,000 on a loan that is secured by some of Little Oil’s drilling equipment. This equipment is worth around $180,000. Giantoil has repossessed the equipment pursuant to its security agreement and has notified Little Oil that it proposes to keep the equipment rather than sell it. Little Oil does not want Giantoil to keep the equipment and wants it to be sold. Discuss the legal issues in this situation. (Points : 50)
Submitted: 2 years ago.
Category: Essays
Expert:  Mr. Gregory White replied 2 years ago.
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