Questions from Business Law

Q: Mike Thurmond operated Top Quality Auto Sales, a used car dealership

Mike Thurmond operated Top Quality Auto Sales, a used car dealership. Top Quality financed its inventory of vehicles by obtaining credit under a financing arrangement with Indianapolis Car Exchange (I...

Q: Harder & Sons, Inc., an International Harvester dealership in Ionia

Harder & Sons, Inc., an International Harvester dealership in Ionia, Michigan, sold a used International Harvester 1066 diesel tractor to Terry Blaser on an installment contract. Although the contract...

Q: Dr. Morris Lebovitz and Kerrye Hill Lebovitz, husband and wife

Dr. Morris Lebovitz and Kerrye Hill Lebovitz, husband and wife, were residents of the state of Tennessee. Dr. Lebovitz filed for bankruptcy protection as a result of illness. Mrs. Lebovitz (Debtor) fi...

Q: James F. Kost filed a voluntary petition for relief under Chapter

James F. Kost filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. First Interstate Bank of Greybull (First Interstate) held a first mortgage on the debtor’s residence near B...

Q: Donald Wayne Doyle (Debtor) obtained a guaranteed student loan to

Donald Wayne Doyle (Debtor) obtained a guaranteed student loan to enroll in a school for training truck drivers. Due to his impending divorce, Debtor never attended the program. The first monthly inst...

Q: Margaret Kawaauhau sought treatment from Dr. Paul Geiger for a foot

Margaret Kawaauhau sought treatment from Dr. Paul Geiger for a foot injury. Dr. Geiger examined Kawaauhau and admitted her to the hospital to attend to the risks of infection. Although Dr. Geiger knew...

Q: Peter and Geraldine Tabala (Debtors), husband and wife, purchased

Peter and Geraldine Tabala (Debtors), husband and wife, purchased a house in Clarkstown, New York. They purchased a Carvel ice cream business for $70,000 with a loan obtained from People’s National Ba...

Q: The Record Company, Inc. (The Record Company),entered

The Record Company, Inc. (The Record Company),entered into a purchase agreement to buy certain retail record stores from Bummbusiness, Inc. (Bummbusiness). All assets and inventory were included in th...

Q: The Grand Island Production Credit Association (Grand Island) is a

The Grand Island Production Credit Association (Grand Island) is a federally chartered credit union. Carl M. and Beulah C. Humphrey, husband and wife, entered into a loan arrangement with Grand Island...

Q: Lapp Roofing and Sheet Metal Company, Inc., is an Ohio

Lapp Roofing and Sheet Metal Company, Inc., is an Ohio corporation headquartered in Dayton, Ohio. The company provides construction services in several states. Lapp Roofing sent James Goldick and othe...