The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 15, Problem 3BCP
Summary Introduction
Case summary:
To find: The action of company MC to collect loans from person H after the court's verdict.
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Vogel filed for Chapter 7 bankruptcy in March 2007. Vogel’s debts consisted of $11,000 in secured debt represented by his automobile and $35,925 in unsecured debt. Vogel’s assets on the petition dated totaled approximately $2800.00 all of which he claimed as exempted property. Vogel also reported monthly expenses of $1600. Vogel was unemployed at the time of filing and reported past earnings of $18,000 annually. In April 2007, Vogel won $130,000 in the lottery from which he received approximately $90,500.00 after taxes.
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Should the Court grant the trustee’s motion to dismiss?
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Verisony sells iPhones to the public. Verisony sold and delivered an iPhone to Muriel oncredit. Muriel executed and delivered to Verisony a promissory note for the purchaseprice and a security agreement covering the iPhone. Muriel purchased the iPhone forpersonal use. Verisony did not file a financing statement. Is Verisony’s security interestperfected? Explain.
Chapter 15 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
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