BUSINESSLAW CHAPTER 34 - Business Law

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MARCH 2009 BUSINESS LAW CHAPTER 34 DEBRA BARONE ANSWERS TO QUESTIONS AND CASE PROBLEMS 1. Yes, Elf Atochem is correct as they held the title. 2. No, it was not filed properly. The court found that the sign was not equipment but a fixture. Since it was a fixture, it should have been filed in the recorder's office. The Webbs purchased the property in good faith and failed to file properly. 3. Yes, because the agreement involved purchase of consumer goods, all requirements for attachment took place. No filing of a financing statement is necessary for this transaction. 4. Yes. A security interest exists in any proceeds of collateral as well. If the collateral was sold, etc. the bank is entitled to those proceeds to satisfy the debt. 5. a. The court found that the financing statement was not misleading because the difference in the two names was slight. b. The same holds here; it is not seriously misleading. c. Financing statement is not seriously misleading because this
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This note was uploaded on 04/22/2011 for the course FINANCE BUSINESS L taught by Professor Daviddubois during the Spring '09 term at SUNY Empire State.

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BUSINESSLAW CHAPTER 34 - Business Law

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