Author Question: The series of steps a secured party must take to protect its rights in the collateral against people ... (Read 125 times)

APUS57 · **on:** Jun 24, 2018

The series of steps a secured party must take to protect its rights in the collateral against people other than the debtor is called
A)authentication.
B)recording.
C)obligating.
D)perfection.

Question 2

Who will prevail in the following scenarios applying the CISG? Would your answer change if the parties selected the UCC pursuant to a choice of law clause? Please provide a short explanation for each of your answers. Scenario A claim by a German buyer against an American seller alleging the seller's failure to perform an oral agreement relating to a sale of goods valued at U.S. 10,000.

kswal303 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

D

Answer to Question 2

Utilizing the CISG, the German buyer may prevail. The CISG provides that a contract does not have to be concluded in or evidenced by a writing in order to be enforceable. Utilizing the UCC statute of frauds, the American seller may prevail. The statute of frauds requires contracts to for the sale of goods in excess of 500 to be in writing.