Business Law Midterm

The PPS Act has affected securities granted in regard to leases, hire purchase agreements, chattel mortgages, floating and fixed charges, and to consignments of agreements and goods that incorporate title retention among others. Another major feature of the PPS Act reform is perfection to prioritize security interests over other related security interests through control, possession, and registration.[16] For instance, contracts negotiability and assignability of contracts have been changed and made more effective. The concept of security interest has been broadened to the extent of including traditional securities such as mortgages and charges.[17] which will allow the borrowers to be in a position to get funds. The

All operations within an organisation must be viable through legislation. Legislation often constrains just how much information an organisation can have and the manner in which it can be used. Legislation exists to protect both employee and employer from unfair conduct. Legislation is a law which has been produced by the government. Legislation exists to authorise access to particular files, to sanction individuals who do not abide by guidelines set, to restrict how much information can be given, etc. For example, employees must have a formally written contract of employment prior to commencing work with a company. It protects employees against unfair dismissal and states that a redundancy pay must be paid if the

27.1)Financing Statement C&H Trucking, Inc. (C&H), borrowed $19,747.56 from S&D Petroleum Company, Inc. (S&D). S&D hired Clifton M. Tamsett to prepare a security agreement naming C&H as the debtor and giving S&D a security interest in a new Mack truck. The security agreement prepared by Tamsett declared that the collateral also secured:

The plaintiffs are seeking an injunction, an equitable remedy, to prevent the state of California from enforcing its statute restricting carbon dioxide emissions.

In 1816, the 2nd National Bank of the United States was chartered by Congress, establishing a branch in Maryland. In trying to protect local business and claiming the unconstitutional chartering of the National Bank, (?????as a direct response????), the state of Maryland passed legislation to impose a tax on all banks not chartered within the state (the Bank of the United States was the only bank that qualified). However, McCulloch, the cashier of BUS’ Baltimore branch, refused to pay this tax and was sued by the state. McCulloch lost in county court and the decision was reaffirmed by the appellate court.

Creation of Negotiable Instruments is simply the creation of commercial paper that can also be referred to as important money substitutes. Money simply does not work as well as negotiable instruments for the purposes of convenience, safety, record keeping, and extension of credit. There are critical elements in creating a negotiable instrument, one, it must be in writing form, it has to be signed by the maker or the drawer of it, there has to be an unconditional promise order to pay. Moreover, it must state a fixed amount of money, it does not require any undertaking in addition to payment of money, it must be payable at a definite time and lastly, it is payable

| Firms who wish to obtain short-term secured loans generally have two major current assets available as collateral in the form of:Answer

In the Final Paper (Case Study) it speaks to the following case and circumstances. Knarles and Barkley are father and son respectively. Barkley is seventeen years old. They operate a facilities maintenance company that regularly does business in the District of Columbia, Maryland and Virginia. The company is based in Maryland. They have a number of contracts with building owners where they have agreed to provide building maintenance to both residential and commercial buildings within the three jurisdictions already mentioned. They receive a monthly payment of $2,000 to $4,000 depending upon the size of the building. They bill the owners for any equipment of a substantial nature that has to be replaced.

The ______ approach to business and society introduced in the text is a descriptive framework that integrates legal and societal considerations with mainstream theories of competitive advantage and social

The reason why Butler Lumber Co. is considering finding a different line of credit is because they’ve nearly exhausted all their usable credit with Suburban National Bank, using up $247,000 of the $250,000 of the credit limit. To compile this issue, the bank is wishing to secure the loan with some of Butler’s property. Considering the company’s large debt ratios, they have decided to check with Northrop National Bank’s offer to extend their line of credit by $215,000.

Bernie will prefer to act as a CEO in a Corporation with a board of directors that will direct him and will borne the direct responsibility for the acts of the corporation. He will also have the responsibility for the acts of the corporation. In order to attract Bernie to join the business, it is likely to offer him shares or options to purchase the shares of the corporation. This is not possible under a LP.

The case is set in the context of RJR’s 1985 financing of its $4.9 billion acquisition of Nabisco Brands Inc. To finance the acquisition, RJR was proposing the issue of $1.2 billion of 12 year notes and the same amount in preferred stock. It had already funded $1.5 billion of the acquisition leaving $1 billion more to finance.

What is the name used for the type of secured bond that requires a pledge of a designated piece of property in case of default?

A promissory note, which typically has a maturity of 90 days, is described as ‘an unconditional promise in writing made by one person to another, signed by the maker engaging to pay, on demand at a fixed or determinable future time, a sum certain in money to the order of a specified person or to the bearer’ (Viney & Phillips 2012, 308).

Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Promissory notes, bills of exchange, checks, drafts, and certificates of deposit are all examples of negotiable instruments. Negotiable instruments may be transferred from one person to another, who is known as a holder in due course. Upon transfer, also called negotiation of the instrument, the holder in due course obtains full legal title to the instrument. Negotiable instruments may be