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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 following circumstances: 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 Suggested answers 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 Factors. 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 Right ... Contract rights in which Debtor now has or hereafter Acquires. Bankruptcy proceedings, whether voluntary or Involuntary, ... Upon default and at any time thereafter... An advertisement like this would probably appear in a Law journal or other publication read by practising Lawyers. 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 Professional authority. The seminar will be held... There are two young newcomers ... It may be necessary... I... would strongly advise that ... I firmly believe that ... Sincerely Date: 2015-12-11; view: 1527
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