Business

2 August, 13:28

Kane Corp. obtained a loan for its business from a commercial bank by providing its property as collateral. Subsequently, it failed to repay the loan to the bank. What immediate action could the bank take as a way of disposal of property?

1. sale of property

2. debt repayment of property

3. repossession of property

4. abandonment of property

5. like kind exchange of property

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