It seems that Blackacre has intervened in the foreclosure proceedings. He claims superior rights to the plant because he owns the realty upon which it sits. If you see any flaws in your client's claim or lending practices, advise it as to how it might have better protected itself. In the ensuing conflict with Emily, Desmond claims either that Emily has no enforceable security interest in the collateral or that Desmond has priority. 1 hour and 15 minutes - 4 sides limit Alpha Corporation owns land from which sand and gravel are excavated, processed and sold for various construction projects.
Alpha also operates a plant which produces tar and asphalt for highway and runway construction.
In addition to buildings and fixtures, Alpha owns a variety of equipment, including five tanker trucks designed to carry tar and asphalt. The site is located In the Northwest corner of the State of Albers and is within a fifty mile radius of three adjoining states. A rail spur from the 8.0. Railroad runs to Alpha's plant and quarry site. Alpha had been insolvent since December 1, 1980.