Questions from Business Law

Q: What is required to create a security interest?

What is required to create a security interest?

Q: When may a bank properly dishonor a customer’s check without being liable

When may a bank properly dishonor a customer’s check without being liable to the customer?

Q: What duties does the Uniform Commercial Code impose on a bank’s customers

What duties does the Uniform Commercial Code impose on a bank’s customers with regard to forged and altered checks? What are the consequences if a customer is negligent in performing those duties?

Q: What is electronic check presentment, and how does it differ from

What is electronic check presentment, and how does it differ from the traditional check-clearing process?

Q: What is a suretyship and how does it differ from a guaranty

What is a suretyship and how does it differ from a guaranty?

Q: How is a purchase-money security interest in consumer goods created

How is a purchase-money security interest in consumer goods created and perfected?

Q: What are three ways for a debtor to avoid mortgage foreclosure?

What are three ways for a debtor to avoid mortgage foreclosure?

Q: In a Chapter 7 bankruptcy, what happens if a court finds

In a Chapter 7 bankruptcy, what happens if a court finds that there was “substantial abuse”? How is the means test used?

Q: What constitutes a preference in bankruptcy law? When is a trustee

What constitutes a preference in bankruptcy law? When is a trustee able to avoid preferential transfers?

Q: Michelle Gholston leased a Chevy Impala from EZ Auto Van Rentals.

Michelle Gholston leased a Chevy Impala from EZ Auto Van Rentals. In November 2011, Gholston filed for bankruptcy. Around November 21, the bankruptcy court notified EZ Auto of Gholston’s bankruptcy an...