Sal offered Owen a cashier's check for $5,000 on July 1, 2005 in payment of a debt to him. The interest on the loan was 8% and Owen had taken Sal's boat as collateral to secure the debt. Owen refused the tender, claiming that Sal actually owed him $7,000. The dispute was litigated and, on October 1, 2006, a court issued a judgment for Sal, confirming that the amount owed was $5,000. As a result of Sal's tender on July 1 and the court decision
a. Sal owes no interest on the debt after July 1, 2005.
b. Owen must pay the court costs
c. Owen loses his security interest in the boat.
d. All of the above
Ans: d. All of the above
Business
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