ADMS 2610 Lecture Notes - Lecture 5: Foreign Exchange Risk, Cheque, Fide

• School: York University
• Department: Administrative Studies
• Course: ADMS 2610
• Professor: Richard Gasparini

Document Summary

Lecture notes session five security for debt, negotiable. A creditor that may look to particular assets of the debtor to ensure payment of the debt. The importance of lenders is becoming a secured creditor. Takes a security interest in assets of the debtor: unsecured creditor. A creditor who does not take a security interest in the assets of the debtor: security interest. Taking an interest in the personal property of the debtor to secure the debtor"s obligation to pay: chattels. Moveable property, personal property as opposed to real property (land) Possession: not always practical and debtor often requires the property. Transfer an interest in the goods: creditor takes an interest in the goods as a secured creditor ii. As the requirement for credit expanded so did the variety of legal instruments. Chattel mortgage was the first security instrument. Mechanics" lien a lien exercisable by a worker, contractor, or material supplier against property upon which the work or material were expended.