Commercial Law

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Business

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Homework

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OryyOregvr

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Running head: COMMERCIAL LAW

Commercial Law

Student’s Name

Institution

COMMERCIAL LAW

Question 1

After searching the Washington state UCC filings, there is evidence that there is a

security interest in the property and assets of Patit Creek Cellars that was granted to Banner bank

and Warden Hutterian Brethren.

Part (a)

If the secured party which is the Banner bank and Warden Hutterian Brethren did not

include the equipment that is owned by Patit Creek Cellars into the list of security interests, then

the organization can sell the barrels and equipment to Neo. Also if the loan secured by Patit

Creek Cellars was a general loan and was not specifically granted to purchase the barrels and

equipment, then they are eligible to sell them to Neo.

Part (b)

A purchase money security interest is a type of security interests that protect specific

loans granted to the debtor to specifically purchase a certain item. If the barrels and equipment

that were sold to Neo are protected within a purchase money security interest, then the secured

party has the right to repossess the items. If an original security interest did not include the

barrels and the equipment as collateral, a purchase money security interest that is imposed later

including the barrels is still considered valid.

Question 2

Part (a)

After conducting a search for the name “Trifecta Brews and more”, there was no other

registered business with the same name.

Part (b)

If Trifecta Restaurant is a registered trademark, the owner of the restaurant may file a

lawsuit that citing trademark dilution since both businesses share a common name. The owner of

the restaurant may argue that the inclusion of the word Trifecta to the liquor business will affect

the distinctiveness of the restaurant or affect its reputation. (Bently & Sherman, 2014).The owner

may also argue that the similarity in the names may create an unwanted association between the

two businesses. These arguments are protected by the Trademark Dilution Revision Act of 2006

which protect against trademark dilution which is part of trademark infringement and punishable

by law.

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1 Running head: COMMERCIAL LAW Commercial Law Student’s Name Institution 2 COMMERCIAL LAW COMMERCIAL LAW Question 1 After searching the Washington state UCC filings, there is evidence that there is a security interest in the property and assets of Patit Creek Cellars that was granted to Banner bank and Warden Hutterian Brethren. Part (a) If the secured party which is the Banner bank and Warden Hutterian Brethren did not include the equipment that is owned by Patit Creek Cellars into the list of security interests, then the organization can sell the barrels and equipment to Neo. Also if the loan secured by Patit Creek Cellars was a general loan and was not specifically granted to purchase the barrels and equipment, then they are eligible to sell them to Neo. Part (b) A purchase money security interest is a type of security interests that protect specific loans granted to the debtor to ...
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Tags: commercial law security interests