Cpcu 530 review_chapters 4_feb 2013
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    Cpcu 530 review_chapters 4_feb 2013 Cpcu 530 review_chapters 4_feb 2013 Document Transcript

    • Documents of Title—Activities 1CPCU 530 Study Aid 3Business Law for the Insurance ProfessionalDonna M. Kesot, CPCU & AICPCU February 2013 Copyright Donna M. Kesot, CPCU Copyright American Institute For Chartered Property Casualty Underwriters
    • Documents of Title—Activities 2 Chapter 4Educational Objective (EO) -- Sales ContractsSummarize the significance of each of the following in relation to the creation andperformance of a contract for the sale of goods: Uniform Commercial Code Article 2 Types of sales contracts Formation of sales contracts Breach of sales contracts and remedies for the breachDescribing Sales Contracts Uniform Commercial Code Article 2 Types of sales contracts Formation of sales contracts Breach of sales contracts and remedies for the breachSummarize the key elements of each topic(s) in relation to creating and performing salescontracts. Focus on the purpose, and rules or guidelines for each topic.Educational Objective (EO) - Negotiable InstrumentsSummarize the significance of each of the following in the sale of goods that occurs at adistance or over time: Uniform Commercial Code Article 3 Types of commercial paper Transfer and negotiation Holders in due courseSummarizing Key Elements in the Sale of Goods At a Distance or Over TimeFor each of the following: Uniform Commercial Code Article 3 Types of commercial paper Transfer and negotiation Holders in due courseFocus on these concepts: The requirements under UCC Article 3 that make an instrument negotiable Describe the two most common types of commercial paper and give examples of Copyright Donna M. Kesot, CPCU Copyright American Institute For Chartered Property Casualty Underwriters
    • Documents of Title—Activities 3 those types of transactions Purpose of transfer and the types of endorsement that accomplish this Examples of who is or is not a holder in due courseEducational Objective (EO) -- a Documents of TitleDescribe the creation and uses of the following: Warehouse receipt Bill of ladingDescribing Documents of TitleYou may want to begin by reviewing the significance of documents of title as overseen by theUCC Article 7. What has to be on a warehouse receipt? How is it used? Who are the parties to a bill of lading? Why is it needed? Copyright Donna M. Kesot, CPCU Copyright American Institute For Chartered Property Casualty Underwriters
    • Damages in Tort Suits—Activities 4Educational Objective (EO) -- Secured TransactionsExplain the following aspects of secured transactions in (or for) the sale of goods: Uses of security interests Forms of security interests Attachment of security interests Perfection of security interests Rights of perfected and unperfected security interests DefaultWriting a Memo to Explain Aspects of Secured Transactions Uses of security interests Forms of security interests Attachment of security interests Perfection of security interests Rights of perfected and unperfected security interests DefaultWrite a brief memo to a debtor (borrower), explaining the assigned aspect of securedtransactions in (or for) the sale of goods. Remind participants to include definitions of key termsin their memos, and convey the impact on the debtor..Educational Objective (EO) -- Consumer Protection LawsExplain how each of the following helps to ensure fair treatment of consumers indealings with suppliers of goods and services: Fair trade laws Consumer credit laws Bankruptcy Explaining Consumer Protection Laws 1. Think of ways the following laws protect consumers and ensure their fair treatment: Fair trade laws Consumer credit laws Bankruptcy 2. Give as many specific examples as possible? Copyright Donna M. Kesot, CPCUCopyright American Institute For Chartered Property Casualty Underwriters