Questions from Business Law

Q: Corona Fruits & Veggies (Corona) leased farmland to a strawberry

Corona Fruits & Veggies (Corona) leased farmland to a strawberry farmer named Armando Munoz Juarez. He signed the lease “Armando Munoz.” Corona advanced him money for payroll and farm production expen...

Q: Charles E. Johnson was the founder and C.E.

Charles E. Johnson was the founder and C.E.O. of PurchasePro.com, Inc., and Geoff Layne was its marketing director. When their internet stock went public, both officers suddenly owned shares worth mil...

Q: When the debtor pledges securities as collateral for a loan, problems

When the debtor pledges securities as collateral for a loan, problems can easily arise concerning the quality of care the creditor provided. In Reed v. Central National Bank of Alva, the debtor borro...

Q: Oak Hill Bank loaned Roger and Bonnie Johnson money to buy a

Oak Hill Bank loaned Roger and Bonnie Johnson money to buy a mobile home, which they used for family purposes. The bank took a security interest in the vehicle. The Johnsons went bankrupt. Oak Hill ha...

Q: Patrick Kennedy was convicted of raping his eight-year-old

Patrick Kennedy was convicted of raping his eight-year-old stepdaughter L.H. A forensic expert testified that L.H.’s injuries were the most severe he has ever witnessed from a sexual assault. The jury...

Q: Lila Williams purchased a new Roadtrek 200 motor home from New World

Lila Williams purchased a new Roadtrek 200 motor home from New World R.V. Inc. She paid about $14,000 down and financed $63,000, giving a security interest to New World. The RV company assigned its se...

Q: The text offers a hypothetical case concerning Tele Maker, which sells

The text offers a hypothetical case concerning Tele Maker, which sells 500 televisions to Retailer, keeping a security interest in the sets and proceeds. Customers sign chattel paper when they purchas...

Q: Based on the facts in the opening scenario, Brenner filed suit

Based on the facts in the opening scenario, Brenner filed suit against Belliard and Fell, alleging that they had violated their duty of loyalty to the company. Issue: Did Belliard and Fell violate the...

Q: Robert Roser obtained a loan from Sovereign Bank which he promptly used

Robert Roser obtained a loan from Sovereign Bank which he promptly used to buy a car. Nineteen days later, Sovereign filed a lien with the state of Colorado. The bank expected that, with a perfected i...

Q: On December 5, Charles H. Logging (CHL) borrowed

On December 5, Charles H. Logging (CHL) borrowed $225,000 from Citizens Bank to buy a skidder, and signed a promissory note to repay the money along with a UCC-1 listing the skidder as collateral. The...