Questions from Business Law

Q: Standridge purchased a Chevrolet automobile from Billy Deavers, an agent of

Standridge purchased a Chevrolet automobile from Billy Deavers, an agent of Walker Motor Company. According to the sales contract, the balance due after the trade-in allowance was $282.50, to be paid...

Q: In July 2020, Edward Slater purchased a new Galaxy boat primarily

In July 2020, Edward Slater purchased a new Galaxy boat primarily for personal purposes. To finance the purchase, Slater obtained a loan from Howell State Bank, agreeing to repay the loan in ninety-si...

Q: Landmark at Plaza Park, Ltd., filed a plan of reorganization

Landmark at Plaza Park, Ltd., filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. Land- mark is a limited partnership whose only substantial asset is a two-hundred-unit garden apar...

Q: Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy

Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy Code on September 30, 2021. Conn listed BancOhio National Bank as having a claim incurred in October 2020 in the amount of $4,...

Q: Eddie Lee Howard and Shane D. Schneider worked for Nitro-

Eddie Lee Howard and Shane D. Schneider worked for Nitro-Lift Technologies LLC. As a condition of employment, they entered into confidentiality and noncompetition agreements that contained a clause re...

Q: David files a bankruptcy petition under Chapter 13. After the claims

David files a bankruptcy petition under Chapter 13. After the claims of secured and priority creditors have been satisfied, David’s remaining bankruptcy estate has a value of $100,000. David’s credito...

Q: Yolanda Christophe filed a bankruptcy petition under Chapter 13. Her scheduled

Yolanda Christophe filed a bankruptcy petition under Chapter 13. Her scheduled debts consist of $11,100 of secured debt, $9,300 owed on an unsecured student loan, and $6,960 of other unsecured debt. C...

Q: On December 17, ZZZZ Best Co., Inc. (the

On December 17, ZZZZ Best Co., Inc. (the debtor) borrowed $7 million from Union Bank (the bank). On July 8 of the following year, the debtor filed a voluntary petition for bankruptcy under Chapter 7....

Q: A landlord owned several residential properties, one of which was subject

A landlord owned several residential properties, one of which was subject to a local rent control ordinance. The local rent control administrator determined that the landlord had been charging rents a...

Q: Krieger is a 53-year-old woman who has not

Krieger is a 53-year-old woman who has not held a job in more than twenty-five years. Prior to that period, she did not earn more than $12,000 a year in her working career. Krieger is living with her...