Aircraft Transactions Discussion

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Post your thorough and complete answers to either Scenario 1 or 2 and to either Scenario 3 or 4. Provide the scenario numbers in your answer.

Set 1

You are in the market to buy an aircraft and have identified one that appears that it would meet your needs and is in your price range.

How will you:

  • determine who owns the aircraft,
  • identify all outstanding security interests in the aircraft,
  • obtain the release of all such security interests, and
  • determine the condition of the aircraft?

Set 2

You are the manager of an aircraft dealership.

A customer approaches one of your salespeople. The customer is the owner of a successful photography business, but not a pilot. The customer states that the business needs to buy an airplane for high-altitude digital photo mapping, and she needs the salesman’s advice to select: a suitable aircraft for the mission, which requires:

  • capability to climb to 24,000 feet,
  • then maintain that altitude plus or minus 100 feet and
  • follow a pre-programmed ground track within 50 feet of the centerline for at least 4 hours
  • at a groundspeed of no less than 250 knots,
  • then have at least 1 hour’s fuel remaining for descent and return to base.

If the salesperson sells the customer an airplane for that mission, what warranties would be implied? Explain.

Could the dealership successfully disclaim those warranties in the contract of sale? Explain.

Set 3

For a nation or union of nations other than the U.S.:

  • Identify the government authority that is the counterpart of the FAA Aircraft Registry.
  • Civil aircraft registered in the U.S. are identified by the letter N, followed by numbers or a combination of numbers and letters. What markings identify civil aircraft registered in the nation you chose?
  • Has that nation imposed a legal requirement to register any class of civil unmanned aircraft with that government authority?
  • Provide hyperlinks to references relied on.

Set 4

For a nation or union of nations other than the U.S.:

  • Identify any counterpart to the Uniform Commercial Code.
  • Compare and contrast the provisions of that law to those of the UCC relating to
    • Warranties
    • Security interests
  • Provide hyperlinks to references relied on.

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