While a fixed charge ...
Collateral, payment, a security interest
A security interest 3 collateral
Credit, indebtedness, a loan, payment, performance
Collateral, credit, a loan, payment, performance
Performance, a security interest, payment, a loan
All inventory, equipment, appliances, furnishings, and
Fixtures now or hereafter placed upon the prernises
[...J or used in connection therewith and in which
Debtor now has or hereafter acquires any right and the
Proceeds therefrom... right, title and interest to any
Trade marks, trade narnes and contract rights in which
Debtor now has or hereafter acquires.
All obligations become imrnediately payable.
Answer key E
6 1 Upon the 'Premises' (at 99 Appleby Road, Baltimore,
MD) and anywhere else used in connection with it.
Financial difficulty would be given in any of the
V an assignment for the benefit of creditors
U an attachment or receivership of assets not
Dissolved within 30 days
V the institution of bankruptcy proceedings, whether
Voluntary or involuntary, which is not dismissed
Within 30 days from the date on which it is filed.
The remedies of a Secured Party under the Uniform
Commercial Code are available.
E 2d 3b 4a 5c
Note that these only refer to liabilities. Similar distinctions
May be made for obligations.
v Direct liability is liability for one's own actions; indirect
liability is liability for someone else's actions (e.g. a
Parent may be liable for the actions of a child; an
Employer may be liable for the actions of an
Employee; an website owner for the actions of a user).
(.; An absolute liability is one which exists; a contingent
Liability mayor may not exist, depending on other
V If a liability is due, it must be paid immediately; if it is
To become due, it must be paid at a later date.
(; If a liability is now existing, it has already been
Agreed; if it is hereafter arising, it will be agreed at
Some point in the future.
Now or hereafter placed upon the premises ...
In which Debtor now has or hereafter acquires any
Contract rights in which Debtor now has or hereafter
Bankruptcy proceedings, whether voluntary or
Upon default and at any time thereafter...
An advertisement like this would probably appear in a
Law journal or other publication read by practising
Understanding Revised Article 9 of the UCC.
True 2 False 3 False 4 False 5 False 6 True
It was sent by a superior to the secured transactions
Team which reports to her.
Because there are two new junior members on the
Team and because they will soon be dealing with
Several new cases in the area.
It is respectful, distanced and formal.
See the table in Exercise 15.
When addressing someone you don't know, or don't
Know well; when addressing someone in a senior
Position to you; when addressing someone in a junior
Position with whom you wish to preserve a sense of
The seminar will be held...
There are two young newcomers ...
It may be necessary...
I... would strongly advise that ...
I firmly believe that ...
Date: 2015-12-11; view: 321