Cif Shipping Term Explained

Summary

In a CIF shipping term, the risk of loss passes to the buyer when the seller gives the goods to the carrier. In simple delivery contracts with non-merchant sellers, the risk transfers to the buyer once the seller tenders delivery. The fair use doctrine allows limited reproduction of copyrighted work for specific purposes. Various scenarios can affect entitlement to collateral in secured transactions, including the nature of the loan and the filing of financing statements. The general ranking for secured transactions under Ohio law is: Security Agreement, Debtor’s Signature, S.P. Gives Value, Attachment, and Right to Collateral. Consult a local attorney for specific advice.

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With a simple delivery contract in which the seller is not a merchant, which party sustains the loss if, through no fault of either party, the goods are destroyed through fire prior to delivery to the buyer? Multiple Choice The seller, if tender of delivery has occurred The buyer, if tender of delivery has occurred Both the buyer and seller, with the loss being apportioned fifty (*) percent to the buyer and fifty (*) percent to the seller Both the buyer and seller, with the loss being apportioned seventy-five (*) percent to the buyer and twenty-five (*) percent to the seller Both the buyer and seller, with the loss being apportioned twenty-five (*) percent to the buyer and seventy-five (*) percent to the seller
In a simple delivery contract with a non-merchant seller, the risk of loss transfers to the buyer once the seller has tendered delivery. So, if the goods are destroyed by fire through no fault of either party prior to delivery, the loss would be sustained by: "The seller, if tender of delivery has occurred."
Which of the following provides that a portion of a copyrighted work may be reproduced for purposes of criticism, comment, news reporting, teaching, scholarships, and research? Multiple Choice The limited-use doctrine The copyright-use doctrine The fair-use doctrine The trade-use doctrine The trade-dress doctrine
The provision for reproducing a portion of a copyrighted work for criticism, comment, news reporting, teaching, scholarships, and research is known as "The fair-use doctrine".
The First National Bank (FNB), located in Pixley, Georgia, loaned $*,* to Maxwell Enterprises Incorporated which was secured by a pledge of computer equipment. Pixley requested and received a security agreement and financing statement from Maxwell but failed to file the financing statement. One month later, the First Federal Bank of Pixley (FFB) loaned $*,* to Maxwell Enterprises Incorporated which was secured by a security agreement and financing statement pledging the computer equipment as collateral. FFB recorded its financing statement in the appropriate location. Maxwell Enterprises subsequently defaulted on its repayment obligations for the loans, and both FNB and FFB attempted to take possession of the computer equipment. But what if the facts of the case were different? Select each set of facts below that could affect who is entitled to receive the computer equipment. Check All That Apply
To better assist you, could you please provide the different sets of facts that you'd like me to consider, in order to determine who would be entitled to receive the computer equipment in each scenario?
The First National Bank (FNB), located in Pixley, Georgia, loaned $*,* to Maxwell Enterprises Incorporated which was secured by a pledge of computer equipment. Pixley requested and received a security agreement and financing statement from Maxwell but failed to file the financing statement. One month later, the First Federal Bank of Pixley (FFB) loaned $*,* to Maxwell Enterprises Incorporated which was secured by a security agreement and financing statement pledging the computer equipment as collateral. FFB recorded its financing statement in the appropriate location. Maxwell Enterprises subsequently defaulted on its repayment obligations for the loans, and both FNB and FFB attempted to take possession of the computer equipment. But what if the facts of the case were different? Select each set of facts below that could affect who is entitled to receive the computer equipment. Check All That Apply The first loan was not made by FNB but rather was credit extended by Computer World, a local technology retailer, to Melvin Maxwell personally in order to purchase the computer equipment for home use.The first loan was not made by FNB but rather was credit extended by Computer World, a local technology retailer, to Melvin Maxwell personally in order to purchase the computer equipment for home use. The first loan was made by Computer World to Maxwell Enterprises Incorporated in order to purchase the computer equipment for use in its business operations.The first loan was made by Computer World to Maxwell Enterprises Incorporated in order to purchase the computer equipment for use in its business operations. Maxwell Enterprises Incorporated subsequently moved its office to Alabama. FFB became informed about the move and filed a financing statement in the appropriate location in Alabama three months after Maxwell moved its office.Maxwell Enterprises Incorporated subsequently moved its office to Alabama. FFB became informed about the move and filed a financing statement in the appropriate location in Alabama three months after Maxwell moved its office. FFB’s financing statement was filed six years ago and has never been renewed through the filing of a continuation statement.FFB’s financing statement was filed six years ago and has never been renewed through the filing of a continuation statement.
All the mentioned scenarios could potentially affect who is entitled to the computer equipment:
- If the loan was extended for personal use, it may not be considered a business asset.
- If the first loan was made by Computer World for Maxwell's business operations, their rights could supersede those of other lenders.
- If Maxwell moved its office and FFB filed in Alabama, FFB might have a superior claim.
- If FFB's statement was filed six years ago and never renewed, it may not be enforceable.
if you had to pick only the answers you were certain of
Based on the information provided:
*. For CIF shipping term, the risk of loss passes when goods are given to the carrier.
*. In a simple delivery contract, risk of loss transfers to the buyer once the seller has tendered delivery.
*. The fair use doctrine allows some reproduction of copyrighted work.
*. All provided scenarios could affect who receives the computer equipment in a default situation.
Rank the options below. Right to CollateralRight to Collateral open choices for ranking No answer AttachmentAttachment open choices for ranking No answer S.P. Gives ValueS.P. Gives Value open choices for ranking No answer Security AgreementSecurity Agreement open choices for ranking No answer Debtor’s Signature
The ranking of these options can be dependent on the specific situation, but under Ohio law, generally, the process for a secured transaction can be ranked as follows:
*. Security Agreement
*. Debtor’s Signature
*. S.P. Gives Value
*. Attachment
*. Right to Collateral
This sequence reflects the process from agreement to securing the collateral. However, it's advisable to consult with a local attorney for a more precise understanding based on your specific situation.