The American Revolution was a time when the British colonists in America rebelled against the rule of Great Britain. There were many battles fought and the colonies gained their freedom and became the independent country of the United States. The American Revolutionary War lasted from 1775 until 1783.
During the second world war, the US government took strong measures to convert the economy to meet the demands of war. President Roosevelt established an organizations like:
1.) War Production Board whose task was to convert industries from peace time works to war needs, allocate scarce material, establish priorities in the distribution of materials and services.
2.) Office of Civilian defense was also established and were tasked to coordinate state and federal measure for the protection of civilians in times of war.
3.) Civil Air Patrol (CAP) was also created for search and rescue missions.
4.) Civil Defense Corps which organized millions of volunteers to fight fires , decontaminate following chemical weapon attacks, and provide first aid.
All of the aforementioned were designed to help the Allied powers during World War II. Even though the US wanted to stay "neutral" when World War II broke out, they did want to benefit by maintaining economic relationships with these countries.
The Lend-Lease Act is a perfect example. This allowed the US government to lend weapons and other materials to nations like France, Great Britain, and China during World War II. If the goods weapons/materials were destroyed, it was on the country using them to replace it.
The Cash and Carry policy was another example of the US government helping the Allied powers. This policy stated that countries may buy materials from the US, as long as they pay in cash and provide transportation for the materials at their own risk.
Both of these show that even though the US was not technically in the war yet, they heavily favored the Allied powers.
It ended with a confederate surrender
Answer:
My Car: I bought my car in 2015 from one of the local dealers. The Creditors can also use my car that currently as collateral. The car registration book has my name inscribed on it hence I own the vehicle. In the event of a need for credit, the creditors would lend me money worth the car. An attachment would occur when I sign the creditor’s contract with the bank in the condition of the car as the security.
My Land: Apparently I was deemed the legal owner of the land because I possessed an authenticated original title deed pertaining to the land with my name written on it. I signed the security agreement or the credit contract and as such the bank gained interest in the collateral hence attachment.
My AC: For the AC, a similar procedure has to happen in a secured credit transaction. Given that, I have all the receipts about the AC, I can use it as collateral. The creditors can lend an equivalent value to the AC. To seal the security agreement, I would sign the credit contract hence an attachment.
For each of the three items, explain if and when perfection occurred.
According to Distenfield & Distenfield (2005), the perfection of a security interest is the act of ascertaining one’s interest in a collateral hence preventing other parties from creating an attachment to the same collateral. Such parties would include other creditors and bankruptcy trustee among others. For the land, the creditor would perfect its interest by possessing the title deed pertaining to the land. Alternatively, the creditor would perfect its interest in the land collateral by filing a financial statement with the necessary public office. Just like the land, the creditor can possess the car's registration book hence perfection. Lastly, the creditor possesses the AC collateral hence perfecting in the collateral.
Explain the priority each of the creditors would have if you defaulted on your promise to pay
In an event of my failure to pay the already secured credit transaction, the creditor would obtain the collateral in lieu of the payment. The priorities of the creditors should only pick the items listed as securities and only those he or she has a security interest. For example, the creditor cannot take personal property or the home as collateral if it was not part of credit contractual agreement.
Explanation:
