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In 2002, Michael Sabol, doing business in the recording industry as Sound Farm Productions, applied to Morton Community Bank in Bloomington, Illinois, for a $58,000 loan to expand his business. Besides the loan application, Sabol also signed a letter that stated, "the undersigned does hereby authorize Morton Community Bank to execute, file and record all financing statements, amendments, termination statements, and all other statements authorized by Article 9 of the Illinois Uniform Commercial Code, as to any security interest." Sabol did not sign any other documents, including the financing statement, which did, however, contain a description of the collateral. Less than three years later, without having repaid the loan, Sabol filed a petition in a federal bankruptcy court to declare bankruptcy. The bank claimed a security interest in Sabol's sound equipment. What are the elements of an enforceable security interest? What are the requirements of each of those elements? Does the bank have a valid security interest in this case? Explain.
Organisations use multiple business management strategies to ensure its optimal performance. Discuss the role of Total Quality Management in that sphere
There are multiple reasons why some people resist change. Adding to this complexity is the fact that sometimes the stated reason hides the real and more deeply personal reason. It is also argued that resistance to change is a normal phenomenon in ..
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Prepare an internal proposal to your manager asking for a purchase to be made-There are 3 things about proposals that you must consider carefully. First, you must present a problem that needs to be fixed. Second, you present a solution or solution..
According to S. Costello (1994) there exist three levels of change: developmental, transitional and transformational (a) Discuss the effect of transitional change on employees (b) What does this type of change involve?
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This is an assignment which envelops the critical description over BOT and BOOT project industries in India.
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