Explain who has title to the cattle

Assignment Help Project Management

Reference no: EM131386427

McCoy, an Oklahoma cattle dealer, orally agreed with Chandler, a Texas cattle broker, to ship cattle to a New Mexico feedlot for delivery to Chandler. The agreement was for six lots of cattle valued at $119,000. After McCoy delivered the cattle, he presented invoices to Chandler that described the cattle and set forth the sales price. McCoy then demanded payment, which Chandler refused. Unknown to McCoy, Chandler had obtained a loan from First National Bank and had pledged the subject cattle as collateral. The bank had no knowledge of any interest that McCoy may have had in the cattle.

McCoy sued to recover the cattle. The bank counterclaimed that it had a perfected security interest in the cattle that was superior to any interest of McCoy's. Who has title to the cattle? Explain.

Reference no: EM131386427

Questions Cloud

Create the attributes and redefine each of the blocks : Create the attributes and redefine each of the blocks so the attributes are stored within the blocks.

Whether lockhart is obligated to pay hutchinsons debt : Hutchinson claims that Lockhart must pay Johnson's debt because the sale of the business had been made without complying with the requirements of the bulk sales law. Discuss whether Lockhart is obligated to pay Hutchinson's debt to Johnson.

Create an electronics symbol library : Draw the symbols and make blocks of them to create an electronics symbol library. Save it as electsymbol.dwg.

Who bears the risk of loss and why : On September 22, a fire destroyed the seller's plant containing the goods, which were not covered by insurance. Who bears the risk of loss? Why?

Explain who has title to the cattle : McCoy sued to recover the cattle. The bank counterclaimed that it had a perfected security interest in the cattle that was superior to any interest of McCoy's. Who has title to the cattle? Explain.

Explain who is entitled to possession of the car : The dealer promised to give Mr. Schrier a certificate of title. One month later, the car was seized by the police on behalf of Home Indemnity. Explain who is entitled to possession of the car.

Draw the circuit by first constructing the inverter : The logic circuit for an adder is shown in Fig. 35-5. Draw the circuit by first constructing the inverter and the AND gate as blocks. Use DONUT for the circuit connections.

Can lane compel honeycutt to return the boat : Honeycutt also received a forged certificate for the boat, on which he had observed Garrett forge the purported owner's signature. Can Lane compel Honeycutt to return the boat, motor, and trailer? Explain.

Create a drawing using the symbol library : After you have completed the library of symbols and details, begin a new drawing and insert the blocks. Create a drawing using the symbol library.

User Account

All Pages