Question 110 pts
A transaction in which a seller sells an aircraft to a buyer and leases the aircraft from the buyer for the seller's use is called a:
Question 210 pts
There are two types of warranty:
Question 310 pts
The prospective buyer of a should _________________________________________ to avoid later legal complications resulting from an aircraft purchase
Question 410 pts
You are a senior airline captain finally making good money and decide to buy a new airplane for your personal flying. An FBO that is an aircraft dealer seeking to sell you an airplane offers to lease it back from you for use in their charter, rental, and flight training operations. A different flight school operation that is not in the business of selling aircraft advises you that they'd be interested in leasing the aircraft from you. Both companies are financially sound and have good reputations for paying their bills on time and taking good care of aircraft entrusted to them, but one of them has a motive to add competing aircraft to their flight line that the other does not.
Which one is that and why?
Question 510 pts
There are two types of valid security interests in aircraft:
Question 610 pts
The _______________________________ is the best way to find out the condition of an aircraft before you buy it.
Question 710 pts
Written express warranties:
Question 810 pts
Most litigation over aircraft purchases could be avoided if the buyer:
Question 910 pts
The statement in the specifications section of an advertisement of an aircraft for sale: _______________________________________ could create an express warranty.
Question 1010 pts
After closing, the _________________________________ should be filed with the FAA Aircraft Registry.