Discuss the rights of each party and determine which party is in the best position to prevail
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After receiving a promotion to logistics manager, Shantil’s husband, Ashton, purchased a 2017 BMW SUV for $68,000; however, he financed $48,000 through First Florida Banc. The bank took a security interest in the vehicle. Ashton was out of town for work when Shantil found out he had been having an affair. Shantil took a baseball bat and broke the windows and put dents in the BMW. Shantil then dropped the car off at the girlfriend’s apartment. Ashton was furious. After taking the car to a body shop for repairs, Ashton was unable to pay the bill due to the divorce, so he negotiated terms with the body shop; however, the shop retained possession of the vehicle. The repair shop claimed a lien on the car for services and materials in the amount of $21,250. Ashton stopped making payments to the bank while he was trying to save money to pay off the repair. First Florida Banc claimed priority.
Discuss the rights of each party and determine which party is in the best position to prevail
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- Kate owned a small grocery store. One day John went to the store and purchased a can of chip dip that was, unknown to Kate or John, adulterated. John became seriously ill after eating the dip and sued Kate for damages on the grounds that she breached an implied warranty of merchantability. Is Kate liable? Why?Ginny DeWitt borrowed $30,000 from SunTrust Bank to pay for her first year of college and signed a promissory note that required payments to start six months after graduation or the student fails to enroll in at least one-half of the full time load. Ginny dropped out of college to pursue her passion of opening a gift shop. When Ginny failed to pay the debt, SunTrust transferred the note to First Bank in New York. New York Bank obtained a court order allowing it to garnish Ginny’s wages and her federal income tax refund. Ginny filed a lawsuit seeing to avoid the payment, claiming the debt was not valid because she did not sign any documentation promising to pay First Bank. She also argued that the note lacked consideration. Explain the holder or holder in due course status of SunTrust when the bank took the note from Ginny and then First Bank when it took the note from SunTrust. Address GInny’s arguments concerning the validity of the debt. Determine the outcome of the case and…Liability for a Lost ATM Card Joshua Franz, of Oxford, Mississippi, earned $4,600 during the summer and put $3,000 of the money in a newly opened savings account for use during the school year. It is now November 4th and Joshua went to the bank to withdraw some cash. The teller informed him that there was only $2,100 in the account. When Joshua protested, the teller informed him that there had been three ATM $300 withdrawals from the account on the last day of the month in August, September and October. Joshua typically neglects to open the statements he had received on the third day of each month. When he got home he could not find the ATM card he had received when he opened the account in August and recalled that he had found his car door open in his parking lot in late August but had thought nothing was taken. When he opened the statements he saw the record of each of the withdrawals. He went immediately back to the bank to tell them of the loss. How much money will Joshua lose…
- Executive Clothing Retailers Limited manufactures and sells work wear for career women. During the period July to October, 2022, they notice that some of their inventory disappeared. Only three persons have the authority to access the inventory from the warehouse. After interviewing two of them the owners realize who the culprit is. They confront the front store Manager, Samantha Charles, in the presence of the police and she confesses, stating that she appropriated the goods and cash from the business, amounting to US$50,000. The owner suggests that Samantha compensate the company rather than face criminal charges. Samantha Charles agrees and executes a document, promising to pay US$50,000 in favour of Executive Clothing Retailers Limited on November 3, 2022, indicating that her actions were not sanctioned by the Company. It is now January 3, 2023 and Samantha has not honoured her acknowledged indebtedness, to Executive Clothing Retailers Limited. 1) What type of document did she most…David M. Fox was a distributor of tools manufactured and sold by Matco Tools Corporation (Matco). Cox purchased tools from Matco, using a credit line that he repaid as the tools were sold. The credit line was secured by Cox’s Matco tool inventory. In order to expedite payment on Cox’s line of credit, Matco decided to authorize Cox to deposit any customer checks that were made payable to “Matco Tools” or “Matco” into Cox’s own account. Matco’s controller sent Cox’s bank, Pontiac State Bank (Pontiac), a letter stating that Cox was authorized to make such deposits. Several years later, some Matco tools were stolen from Cox’s inventory. The Travelers Indemnity Company (Travelers), which insured Cox against such a loss, sent Cox a settlement check in the amount of $24,960. The check was made payable to “David M. Cox and Matco Tool Co.” Cox indorsed the check and deposited it in his account at Pontiac. Pon-tiac forwarded the check through the banking system for payment by the drawee bank.…Tina found a coat she liked at a department store, but it cost $20 more than she had.She did not have any credit cards and decided to leave. As she approached the exit, an employee offered her instant credit if she would apply for a store credit card. Tina signed up for the card and charged the coat. Write a sentence or two explaining various ways in which the store will benefit from extending credit to Tina.
- Executive Clothing Retailers Limited manufactures and sells work wear for career women. During the period July to October, 2022, they notice that some of their inventory disappeared. Only three persons have the authority to access the inventory from the warehouse. After interviewing two of them the owners realize who the culprit is. They confront the front store Manager, Samantha Charles, in the presence of the police and she confesses, stating that she appropriated the goods and cash from the business, amounting to US$50,000. The owner suggests that Samantha compensate the company rather than face criminal charges. Samantha Charles agrees and executes a document, promising to pay US$50,000 in favour of Executive Clothing Retailers Limited on November 3, 2022,indicating that her actions were not sanctioned by the Company. It is now January 3, 2023 and Samantha has not honoured her acknowledged indebtedness, to Executive Clothing Retailers Limited. 1) What type of document did she most…Abigail is in the business of selling fine antiques. Abigail purchased an antique desk for $5,000 from Jackson, and gave a promissory note for payment. Concerned that Jackson might not accept the note, Abigail had her friend Catalina sign the promissory note as well. Jackson accepted the note as payment. Two weeks later, Jackson sought payment on the note. Abigail told Jackson that she is not responsible for the promissory note because Catalina signed the note too, and Jackson had to seek payment from Catalina first. Abigail also spotted a beautiful set of vintage chairs owned by Max that would be perfect for her store. Abigail wrote a $10,000 check, also signed by her business associate Orville as an accommodation party, to Max to pay for the chairs. Max presented the check to Westville Savings, the bank where Abigail has a checking account, for payment. Westville Savings dishonored the check claiming Abigail had insufficient funds. Who is liable for these negotiable…Joshua acquired bulk onions as an agent for Sheriffe but couldn’t ship them due of a storm and damaged port infrastructure. Joshua was unable to contact Joshua owing to an interruption in the telecommunications infrastructure, so he sold the onion to a grocery chain and abandoned the rest, which started to rot. Sheriffe has sustained a big loss and is considering suing Joshua to recoup part of it. Advise Sheriffe on the possibilities of recovering lost revenue in this situation.
- June is a 26-year-old woman. She is married but separated from her husband, whom she describes as frighteningly controlling, emotionally abusive, and sometimes physically abusive. When her husband left, he took their 5-year-old twin daughters with him, but only a few days later returned the girls to June an left again. June does not know where he is. He emptied their checking account, which never had much in it anyway, and they had no savings. Her rent and utilities are paid up through the end of the month, but she now needs to arrange for childcare so that she can continue to work. She has come to your agency for assistance. Review the discussion of customers, consumers, and clients in your text. How would you understand June as a customer? What does perceiving her as a customer mean for the helping relationship? How would the customer helping relationship affect how you conceptualize her and the challenges she faces? How would that, in turn, impact the services you provide and how…Bob went out with his friends to celebrate his birthday. They went to a bar where they drank copious quantities of alcohol. In the morning, Bob had not slept and was still obviously intoxicated. He found his way to a car dealership near his house and entered into a contract to buy a Mercedes Benz SUV for the cost of $140,000.00. The car salesman could smell alcohol on Bob's breath, he noticed his eyes were bloodshot and "glossy" while they were signing the papers relating to the sale, and when Bob left he could see that he was unsteady on his feet. Bob left the dealership and went home and went to bed. He slept for two days. The car salesman from the dealership called Bob 4 days later to tell him that his vehicle was ready for pick up. Bob had no memory of the buying any car. In these circumstances:A. the contract is void ab initio because Bob lacked capacity to contract due to his intoxicationB. Bob can avoid or repudiate the contract within a reasonable time after he regains capacity…Columbia University brought suit against Jacobsen on two notes signed by him and his parents. The notes represented the balance of tuition he owed the University. Jacobsen counterclaimed for money damages due to Columbia’s deceit or fraudulent misrepresentation. Jacobsen argues that Columbia fraudulently misrepresented that it would teach wisdom, truth, character, enlightenment, and similar virtues and qualities. He specifically cites as support the Columbia motto: “in lumine tuo videbimus lumen” (“In your light we shall see light”); the inscription over the college chapel: “Wisdom dwelleth in the heart of him that hath understanding”; and various excerpts from its brochures, catalogues, and a convocation address made by the University’s president. Jacobsen, a senior who was not graduated because of poor scholastic standing, claims that the University’s failure to meet its promises made through these quotations constituted fraudulent misrepresentation or deceit. Decision?