Aviation Law (Chapter 11 and 12) Questions and Answers | Latest Update | 2024/2025 | Graded A+
1 view 0 purchase
Course
Aviation Law
Institution
Aviation Law
Aviation Law (Chapter 11 and 12)
Questions and Answers | Latest Update |
2024/2025 | Graded A+
What is a security interest in aviation?
A security interest in aviation refers to a legal claim on an aircraft or related assets to secure
repayment of a loan or obligation.
How is a security...
Aviation Law (Chapter 11 and 12)
Questions and Answers | Latest Update |
2024/2025 | Graded A+
What is a security interest in aviation?
✔✔A security interest in aviation refers to a legal claim on an aircraft or related assets to secure
repayment of a loan or obligation.
How is a security interest created in aviation?
✔✔A security interest is created through a security agreement between the lender and borrower,
outlining the terms and the collateral involved.
What role does the International Registry play in aviation security interests?
✔✔The International Registry helps in recording security interests to establish priority and
protect the rights of lenders in international aviation transactions.
What is the significance of the Cape Town Convention?
✔✔The Cape Town Convention provides a legal framework for the registration and enforcement
of security interests in aircraft, facilitating international financing.
1
, How does a creditor enforce a security interest in aviation?
✔✔A creditor can enforce a security interest by repossessing the aircraft if the borrower defaults
on the loan, following legal procedures outlined in the security agreement.
What is the difference between a possessory and non-possessory security interest?
✔✔A possessory security interest involves holding the collateral, while a non-possessory
security interest allows the borrower to retain possession while securing the debt.
How do bankruptcy laws affect aviation security interests?
✔✔Bankruptcy laws can impact the enforcement of security interests, as creditors may need to
navigate automatic stays and the priority of claims against the debtor's assets.
What happens to a security interest if an aircraft is sold?
✔✔If an aircraft is sold, the security interest generally follows the aircraft unless the new owner
is a bona fide purchaser for value without notice of the security interest.
What is the purpose of filing a notice of security interest?
✔✔Filing a notice of security interest serves to publicly disclose the lender’s claim on the
aircraft, establishing priority over other creditors.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.97. You're not tied to anything after your purchase.
