Exam 28: Secured Transactions

Milton ordered a fancy telescope from a catalogue,using his bank credit card.When it arrived it seemed quite different from the telescope of the catalogue description.Neither the catalogue company nor the manufacturer would take the telescope back.Milton now wants the chartered bank that issued the credit card to reverse the charges.Does Milton have a legal claim against the bank?

How might the assignment of book debts (owed to the assignor)seriously prejudice the position of general creditors and prospective general creditors?

Use this fact situation to answer the related questions that follow. A is buying a video business including the inventory of DVDs,which is valued at half the worth of the business,but A only has half the purchase price,so B agrees to help A out. In this case,to help A buy the business,B will

If an owner sells you goods that have been pledged as security for a loan,the claim against those goods is known as

Which of the following is NOT a form of security for bank loans?

Use the fact situation in Q2 to answer the related question that follows. In this situation,if B takes back a chattel mortgage on the inventory,title to the inventory

Can the chartered banks require security for loans outside section 427 of the federal Bank Act?

Self-liquidating financing is usually the best form of financing for

Sometimes conditional sale contracts exist between the manufacturer and the retailer.How does the consumer know she or he is getting clear title to the goods purchased?

Sonny bought a computer from The Bad Guys on a conditional sales contract.Two months later Sonny sold the computer to Fred without mentioning it was not paid for.Can The Bad Guys recover the computer from Fred?

When dealing with security interest,the failure of a creditor to register

Phillip,who has a loan on his car at the bank,has placed his car on consignment at the local used car lot.His law professor tells Phillip that consignments can amount to a secured type of credit.If this is true,who is the creditor?

Does a bank have a right of lien against property left in its safekeeping by one of its borrowers?

How is it that security devices mislead innocent third parties?

Which one of the following requires permission from the security holder before the item(s)used as collateral can be sold?

Self-liquidating financing is usually the best form of financing for farmers.