Berke bought a car from Apex Autos and financed the purchase with an installment loan. Apex failed to file the financing statement. Is Apex protected if Berke sells the car to someone else without paying off the installment loan?
Rogers borrowed $10,000 from Upstate Bank, with Rogers’s sister agreeing to act as guarantor of the loan. The loan agreement provided that loan payments were to be made in person. A month after the loan was made, Rogers and the bank agreed that the payments were to be made by mail but did not notify Rogers’s sister of the change. Is Rogers’s sister released from her guaranty?
