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Author Question: The rights of a transferee of a negotiable bill of lading are defeated if the goods have been ... (Read 78 times)

ARLKQ

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on: Jun 24, 2018
The rights of a transferee of a negotiable bill of lading are defeated if the goods have been stopped in transit.
  Indicate whether the statement is true or false

Question 2

Twin Properties, Inc is purchasing a oneacre parcel of industrial land from Zeezrom Development. Zeezrom will be financing part of the purchase and has placed a clause in the contract requiring Twin Properties to provide proof of financial solvency and stability. Two days before closing, Zeezrom discovers that Twin Properties is part of a Chapter 11 Bankruptcy Reorganization Proceeding. Must Zeezrom go through with the sale?


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scrocafella

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Reply #1 on: Jun 24, 2018
Answer to Question 1

FALSE

Answer to Question 2

No. The proof of solvency is a condition precedent to performance. Clearly, Twin does not meet the requirement.


ARLKQ

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

vickybb89

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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