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Aviation Law (Chapter 11 and 12) Questions and Answers | Latest Update | 2024/2025 | Graded A+ $9.72
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Aviation Law (Chapter 11 and 12) Questions and Answers | Latest Update | 2024/2025 | Graded A+
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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...

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  • October 29, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • aviation law chapter 11 and 12 questions and ans

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  • Aviation Law
  • Aviation Law

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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.

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