If you are a buyer of a US registered aircraft, there are several hints that you may be involved in a back to back aircraft transaction.
First, you need to know that a back to back aircraft transaction involves the current owner of the aircraft (Owner) who enters into a contract to sell the aircraft to intermediary (Intermediary) and the Intermediary enters into a contract at the same time to sell the aircraft to the ultimate buyer (Ultimate Buyer). The plan is that on the closing date title transfers either directly from Owner to Ultimate Buyer or title transfers from Owner to Intermediary (without registration in the name of Intermediary) and immediately transfers to Ultimate Buyer which registered the aircraft with the FAA.
Did anyone tell you that the transaction is a flip or a back to back? Do you know why the transaction is configured as a back to back? If it is you, the Ultimate Buyer, who wants to remain confidential, then this may or may not be possible. If the Owner has a lender, the Owner’s lender may require that the Intermediary notify Owner’s lender in whose name the aircraft will be registered in order to satisfy export control and anti-money laundering laws and regulations.
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If not, ask why your contract is not with the registered owner.
Is it taking a long time to negotiate the purchase agreement and the purchase agreement comments you receive do not reflect your conversations with the “Seller” named in your purchase agreement?
What is your position, as the Buyer, if the Intermediary uses your deposit to become the deposit for the contract the Intermediary has with the Owner? A US escrow agent must (for anti-money-laundering and other governmental requirements) know all of the
First, when a creditor (ICE) extends credit to a debtor (Top Quality) and takes a security interest in some property of the debtor, Top Qualities inventory in this case, it is called a secured transaction. The inventory is then considered collateral for the financing that ICE provided for Top Quality, which was made clear in the financing statement that ICE filed. Any secured transactions where personal property is used as collateral is governed by Article 9 of the Uniform Commercial Code. The UCC was revised in 2001 to better adhere to modern times, and since this case took place from 2007 to 2009, we will be applying the revised edition. There are many sections of Article 9 that should be considered when examining this case. First, the filing of a financing statement, form UCC-1 in Article 9, should be confirmed as filed with the appropriate state office. Once this has been done, confirming the attachment of Top Quality’s inventory to ICE, we can then look to confirm that the initial sale to Chrisman was paid in full to Top Quality, which it was. If this were not the case, ICE would be entitled to the remaining sale proceeds. Now we move on to the requirements of a buyer in the ordinary course of business, per Article 9 of the UCC. According the textbook, “A buyer in the ordinary course of business who purchases goods from a merchant takes the goods free of any perfected or unperfected security interest in the merchant’s inventory, even if the buyer knows of the existence of the security interest” (Cheeseman). The textbook then continues to explain that this rule is necessary because buyers would be reluctant to purchase goods if the merchant creditors could recover the goods if the merchant defaulted on the loans owed to secured creditors. These statements come from the Revised Article 9, section 320(a). This is based on the idea that the buyer purchases in good faith, meaning that they are
materials.) A vendor is not an owner if it did not own the property at the time
After the housing bubble burst, everyone involved in the process was subject to severe criticism. From the realtors to the land title insurance agents to the banks, the housing industry underwent a major overhaul. In order to make sure that what happened less than a decade ago doesn’t happen again with the same veracity, the American Land Title Association (ALTA), which guides the conduct of land title insurance agents, published a “Best Practices” manual. ALTA seeks to guide its membership on best practices to protect consumers and to meet legal and market requirements. This paper will lay out the best practices used by ALTA for title insurance and settlement.
Buying and leasing are two very different approaches to obtaining a vehicle while both have their advantages and disadvantages both can also benefit the purchaser. There are many differences between the two but the primary difference is with buying money is paid to own the vehicle and with leasing money is paid to use the vehicle. According to the site www.towtrucknet.com/financing.htm, of the 15.5 million new vehicles sold in 1998 a record 5.3 million were leased. The three main differences are payments/price, depreciation value, and valuable differences.
This includes the pilot and co-pilot on the jet operated by ExecuFlight, a Florida company, plus "two principals and five employees" of Florida-based real estate company Pebb Enterprises.
Real estate transactions can be complex, making it difficult to navigate without legal assistance. A real estate attorney can walk a home buyer or seller through the legal process for the transfer of ownership of property. The fees for real estate lawyers can be a set price, like $800, or a rate per hour spent on the deal, depending on the area. Real estate attorneys are overseers of the legal work involved in buying or selling property. They are very beneficial in ensuring the interests and rights of the client are preserved. Moreover, a buyer's attorney checks the sales contract, or the legal document committing the buyer to purchase the home, to make sure the buyer is protected. The attorney checks the title, or chain of ownership to the property, for any problems or liabilities, such as liens. All mortgage loan documents and legal papers for the purchase are verified and filed by the attorney. A seller's attorney will check the sales contract to protect the seller and address any title issues that arise, arrange for any final payoffs for existing loans and prepare the necessary documents to transfer ownership of the property. More importantly, real estate attorneys can protect a buyer or seller from financial loss. A sales contract that does not have a clause allowing termination for a failed inspection can cost a buyer hundreds of dollars to cancel if the home is found to have a major problem, such as mold. Loan
avoid surveillance at Miami International. The scheme required "not only a mechanic's or a cargo
Thomas, B. (2010, May 12).Briefing Aviation: Rulers of the new silk road. Financial Times, p.16
Even though the principal does not authorize, ratify, participate in, or know of the misconduct, he/she may be held for an agent’s tort committed in the course and scope of the agent’s employment. As noted in Case Study 1, an agent is to comply with all lawful instructions received from the principal and persons designated by the principal concerning agent’s actions on behalf of the principal. A principal who is under a duty to provide protection is subject to liability to such others for harm caused to them by the failure of such agent to perform the duty. A principal is not relieved from the separable part of a contract which he/she authorized the agent to make by the fact that the agent under took. Even where the agent’s unauthorized act constitutes a fraud on both the principal and the third person, the partial validity rule is applicable.
If you’re negotiating make sure your negotiating with the right person. Does this person have the authority to negotiate and make...
Globalization has resulted in broadened relationships worldwide. These connections have created challenges for organizational leaders. The concept of liability extends far beyond customers and suppliers; organizations have become responsible for worldwide social welfare and the environmental impact of operations. Within integrated supply chains, managers have looked across traditional boundaries to interfirm relationships to manage risk and advance corporate social responsibility (CSR) requirements, such as sustainability.
In the world of multinational corporations (MNCs) whose headquarters are based in the United States, the transfer of intellectual property and profits to tax haven countries has become a common and lucrative business practice. Through the use of foreign holding companies, or so-called “Controlled Foreign Corporation (CFC)”, MNCs have been able to generate higher profits while avoiding high U.S. corporate income tax rates on worldwide earnings. Overall, 83 of the 100 largest publicly traded U.S. corporations have subsidiaries in locations listed as tax havens or financial privacy jurisdictions, according to the Government Accountability Office (Hirsch 1). The underlining purpose behind the use of tax haven countries is so that foreign holding
International business is risky especially when companies involved play by a different set of rules. Knowing the differences in culture, politics and the primary legal environments of a host country, allows the companies to conduct business and make quality decisions based on the business climate, creating a marketing mix specific to each country and region (CSU, module 3, 2014). Detailed research helps companies create a solid marketing mix, but does not guarantee that the obstacles of payoff’s and bribery won’t hinder the outcome. Below the surface level of many sales negotiations, like those seen in our case study of Boeing and Airbus, are driven not on their marketing mix, quality, reputation or reach, but rather on power, bribery, politics and corruption, which plays a very real role in international business negotiations.
Buyer behavior plays an important role when buyer purchases a product. It is important to satisfy need and want. Likewise, buyers differ in the way they purchase a certain product. Buyer behavior is “the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the buyer and society” (Hawkins & Mothersbaugh, 2013, p. 6). A process that buyer go through in deciding the purchase of product or service to satisfy needs and wants is the buying decision process. Buying decision process is also known as psychological process. Perner (2008) expresses the view that buyer behavior consists of the psychological processes that buyers undergo in need recognition, discover techniques to fulfill the needs, decide purchasing, information interpretation, create plans, and work out with these plans. The buying decision process happens within a buyer every time they decide to purchase product (Young & Pagoso, 2008). As mentioned by Kotler and Armstrong (2010), there are five important steps in buying decision namely recognizing the need, searching the information, evaluating the alternative, purchasing decision and post-purchasing behavior.
Jeremy, G. T. (1989). How to negotiate better deals. London, UK: Gold Arrow Publication Ltd.