Question
U.S. Bank has loaned $1,000,000 to ClearWater so it can purchase water purification equipment. As part of the loan agreement, the parties sign a security
U.S. Bank has loaned $1,000,000 to ClearWater so it can purchase water purification equipment.
As part of the loan agreement, the parties sign a security agreement in which ClearWater puts up as collateral the purification equipment that it will acquire with the loan.
U.S. Bank makes the $1,000,000 loan and ClearWater purchases the equipment and obtains rights to it.
1. (a) What are the requirements for attachment? (b) Are they met here? (c) How are they met? (d) What means of attachment are not applicable in this case?
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
