It would function exactly the same as if it were equipped to one of your monsters, except you are giving their monster the 300ATK bonus instead of one of your own.
Note that when the condition is right, Vicious Claw will still return to your hand, because you are its owner, and your opponent will still be the one who gets the token.
Clearing up some possible confusion - Soul Exchange doesn't 'take' monsters, nor does it do anything to them on resolution, except for set up a condition that says you can tribute it as if it was one of your own. You tribute it therefore in exactly the same way as if it were on your side of the field. There is nothing stopping you tributing it, and a monster on your side of the field, to summon a Lv7 or higher monster. In fact if you used 2 Soul Exchanges, you could summon a Lv7+ monster with both of them.
No. Flip Effects only activate when the card is flipped, which will happen when Flip Summoned, or when the monster is attacked, or when an effect specifically directs it to be turned face up. Simply destroying a face-down monster, or removing it from play, does not 'flip' it, so Flip Effects will not activate.
no, special summons are NOT the same as normal summons. special summons require a special card or effect to happen, cards such as monster reborn or return from the different dimension. normal summons are just when you directly play a monster from your hand without any other additional card effects
No part of Zubaba Knight negates effects but since it destroys the monster at the start of the Damage Step it might mean that some monster effects would be unable to activate. Monsters which trigger when destroyed by battle will not activate because they were destroyed by an effect. Many monsters with effects that happen during or after Damage Calculation will never activate because the damage step will end as soon as it starts.
the person is not allowed to atack until the equip card is destroyed
Monster Party happened in 1989.
Onegai Monster happened in 1999.
Monster Lab happened in 2008.
Monster Max happened in 1994.
Monster Bash happened in 1993.
Monster Seed happened in 1998.
Monster Tale happened in 2011.
Monster Milktruck happened in 2008.
Monster Business happened in 1991.
Lil' Monster happened in 1999.
Monster Paradise happened in 1997.
Monster Maulers happened in 1993.