MindTap Business Law, 1 term (6 months) Printed Access Card for Cross/Miller's The Legal Environment of Business: Text and Cases, 10th (MindTap Course List)
Question
Book Icon
Chapter 15, Problem 3BCP
Summary Introduction

Case summary: Person H financed her education partially through loans. Person H believed that she had repaid the loans. When person H filed a chapter-13 petition, company MC filed suit against H for unpaid loans without any proof. H objected the suit and at the time of hearing, H submitted proof that shows that loans had been paid. Company MC failed to appear in court. The court sustained the objection of H.

To find: The action of company MC to collect loans from person H after the court's verdict.

Blurred answer
Students have asked these similar questions
Respondents discovered that their deceased father maintained an account with a bank. They were required by the bank to submit certain documents to obtain its release. While collating the documents, the bank released the money to another claimant who presented incomplete documents. Should the bank be held liable? Why?
Verisony sells iPhones to the public. Verisony sold and delivered an iPhone to Muriel oncredit. Muriel executed and delivered to Verisony a promissory note for the purchaseprice and a security agreement covering the iPhone. Muriel purchased the iPhone forpersonal use. Verisony did not file a financing statement. Is Verisony’s security interestperfected? Explain.
Anita bought a television set from Bertrum for her personal use. Bertrum, who was out of security agreement forms, showed Anita a form he had executed with Nathan, another consumer. Anita and Bertrum orally agreed to the terms of the form. Anita subsequently defaulted on payment, and Bertrum sought to repossess the television. a. Explain who would prevail. b. Explain whether the result would differ if Bertrum had filed a financing statement. c. Explain whether the result would differ if Anita had subsequently sent Bertrum an e-mail that met all the requirements of an effective security agreement.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Text book image
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Text book image
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
Text book image
Introduction to Business
Business
ISBN:9781947172548
Author:OpenStax
Publisher:OpenStax College
Text book image
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Text book image
Bcom
Business
ISBN:9780357026595
Author:LEHMAN, Carol M.
Publisher:Cengage Learning,