Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Bankruptcy Petition Business Law Essay Questions
Donald has declared chat 7 bankruptcy. Which of the following transactions (payment, sale or lien) would be considered preferential or fraudulent and as such can be invalidated by the bankruptcy trustee and returned to Donald’s estate?
Donald purchases a lawn tractor from Sears for $3000, and Sears attaches a security interest to the lawn tractor. 60 days after the purchase, Donald files for bankruptcy. Can the lien (security interest) be invalidated? Explain why or why not.
Over a year ago, Donald had the engine in his car rebuilt, and Donald owes his mechanic $4600 for the repair work. His pay agreement requires him to pay $400 a month plus interest. 70 days before Donald files for bankruptcy, he pays his mechanic $2000 on the debt. Can payment to the mechanic be invalidated by the trustee? Explain why or why not.
Donald owes his uncle Joe $8,500 on a personal loan he took out to purchase an automobile. The loan requires that he pay his uncle $500 a month until the balance is paid off. Six months before filing bankruptcy, he makes a payment of $3000 on the loan. Can this payment be invalidated? Explain why or why not.
Donald rents an apartment and his monthly rent payment is $1200. He makes the rent payment in April, May and June. During the first week of July, Donald files for bankruptcy. Can his rent payments be invalidated by the trustee? Explain why or why not.
Donald owes his attorney, Michael, $6000 for representing him in his divorce. Because he has been unable to collect the debt, Michael is threatening to sell the debt to the Kneecap Collection Agency. To reassure Michael that he will repay the debt, Donald gives Michael a security interest in Donald’s Rolex watch. 82 days later Donald the files for bankruptcy. Can the trustee invalidate the lien (security interest) in the Rolex watch? Explain why or why not.
Donald owns a painting by Edward Hopper that has an appraised value of $75,000. Nine months before he declares bankruptcy, Donald sells the painting to his business partner, Daphne for $25,000. Can the trustee invalidate this transaction? Explain why or why not.
Donald hires Greenworks Landscaping to install an automatic lawn irrigation system, and he pays Greenworks $2700 for the system. 28 days later Donald files for bankruptcy. Can the trustee invalidate the payment to Greenworks? Explain why or why not.
Carol’s creditors are:
Secured Creditor: $6000 debt. Secured Creditor has a security interest in Carol’s coin collection.
Priority Creditor: $2600. The limit on the priority claim is $1000.
Aunt Shirley: $1000 debt.
Nordstrom’s: $1400 debt.
How much will each creditor be paid from the distribution of Carol’s estate? Please be sure to explain your answer.
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Bankruptcy Petition Business Law Essay Questions |
Bankruptcy Petition Business Law Essay Questions