Assume that before Rafael takes possession of the plane, Barron has begun to use it in his new business offering air tours of Glacier National Park in Montana. Does his use of the plane for business purposes impact the bank's security interest in the plane?

Assume that before Rafael takes possession of the plane, Barron has begun to use it in his new business offering air tours of Glacier National Park in Montana. Does his use of the plane for business purposes impact the bank's security interest in the plane?

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Similar questions

Why does the agent have personal liability when the principal is undisclosed?
A8
Explore the fundamental entitlements granted to a bailor within the context of a bailment agreement.
Explain the concept of 'holder in due course' under the Negotiable Instruments Act.
4.Bryson issues a $5,000 negotiable check "payable to the order of Yolanda or cash." Yolanda places her signature on the back of the check. Yolanda then negotiates the check to Casey. Given these facts, which of the following is generally correct? а. The check was issued as a bearer instrument and Yolanda could not have converted it into an order instrument. b. Yolanda's indorsement on the instrument is not required in order for Casey to qualify or assert that he is a holder in due course. С. Yolanda's indorsement on the instrument is generally referred to as a special indorsement. d. Yolanda's indorsement on the instrument is required in order for Casey to qualify or assert that he is a holder in due course.
Professor Shott buys a Porsche against the wishes of his much more intelligent wife. Professor Shott soon realizes his mistake when he starts to make the car payments. Jane, a very wealthy 17 year old, offers to buy the Porsche and Professor Shott accepts. Now assume that before she turns 18 Jane gets in an accident and badly damages the Porsche causing $20,000 in damage. Assume she originally paid Professor Shott $50,000 for the car. If Jane now seeks to return the damaged car what is the result? Professor Shott must refund Jane his money minus the amount of the damages. Professor Shott does not have to refund Jane anything. Professor Shott can demand it be repaired before giving Jane a refund. Professor Shott must refund Jane 100% of his money even though he damaged the car.
With a banker’s acceptance, certain conditions, such as delivery of the merchandise, may be specified before payment is made; True or False
Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…
Marge sold her car to Rupert, her very good friend on credit for $100,000. He paid down $30,000, but after a few months, and having not seeing Rupert, Marge decided to take back the car. Lucky for her, she did not give Rupert the papers for the car. She saw Henry with the car, who told her that Rupert sold it to him and promised to give him the papers soon; i. Can Rupert keep the car? why or why not. ii. Can Marge get back the car? why or why not. iii. Would the situation be different if Marge had given Rupert the papers for the car? iv. What type of contract did Rupert and Henry enter into?
I am allowed to compensate for the loan you obtain to me exchange of the loan I obtain from you. Argue
Smith was approached by a man who introduced himself as Brown of Brown & Co. Brown was not known to Smith, but Smith asked Dun & Bradstreet for a credit report and obtained a very favorable report on Brown. He thereupon sold Brown some expensive gems and billed Brown & Co. “Brown” turned out to be a clever jewel thief, who later sold the gems to Brown & Co. for valuable consideration. Brown & Co. was unaware of “Brown’s” transaction with Smith. Can Smith successfully sue Brown & Co. for either the return of the gems or the price as billed to Brown & Co.?
Theresa booked a ticket with AirMalay to fly her from Kuala Lumpur to Melbourne on the1st December 2021. The ticket was booked far in advance, paid for and the flightconfirmed. On 1st December, however the flight was cancelled and the airline wasunable to give Theresa an alternative flight. Consequently, Theresa was forced to put upa night in Kuala Lumpur. The next afternoon, she flew to Melbourne on another airline.On reaching Melbourne, she found that she had lost a business opportunity whichresulted in her losing a considerable sum of money because she arrived in Melbourne toolate.Advise Theresa.