The Essential Difference Between a Fixed Charge and a Floating

question 56

Multiple Choice

The essential difference between a fixed charge and a floating charge relates to:

• A)whether or not the charge must be registered.
• B)the length of time the charge exists.
• C)the enforceability of the charge against third parties.
• D)the time when the particular assets that will be subject to the charge become known.

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Definitions:

Forum Non Conveniens

A doctrine allowing courts to dismiss a case when another court, or forum, is significantly more appropriate to hear the case.

Exercise Jurisdiction

The act of applying or enforcing legal authority over a particular area, group, or issue.

More Convenient Forum

A legal doctrine allowing courts to transfer a case to a jurisdiction that is more suited for all parties involved or for the witnesses.

Lex Mercatoria

A body of commercial law and customs used by merchants throughout Europe during the medieval period, which still influences international trade law today.