Which of the following has the highest regulatory liability standards relating to interstate commerce securities law?
a. The Securities Act of 1933
b. The Securities and Exchange Act of 1934
c. “Blue Sky” laws
d. All of these
Deb applied to Shy-Star Lending for an automobile loan to purchase her first new car. As she had no credit history, Shy-Star required that in addition to a UCC-9 perfected security interest in the car Deb wished to purchase, Deb have a responsible co-signer support her debt. Per the loan contract “standard form” supplied by Shy-Star, Deb’s dad Dan signed the form as surety, in addition to Deb signing as debtor. Who is primarily liable for this auto loan obligation?
a. Deb only
b. Dan only
c. Both Deb and Dan, in no particular order
d. Deb and Dan jointly, one-half each
e. Neither Deb nor Dan, as Shy-Star has a UCC-9 collateral security interest in the car and can repossess it if Deb defaults
