Reference no: EM132160373
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1.Discussion 10: UCC Filings
Go onto the Ohio Secretary of State's website and access its UCC fillings search page Under the "secured party" tab, search for a bank (e.g. Fifth Third, U.S. Bank, First Bank, Kemba Credit Union) in the Organization's Name field, and put in a city and Ohio for the state. Hit search.
A table of UCC filings will pop up. Pick one that has "Original" as the filing type. Hit the "view" button on the right. It'll take you to another screen. Hit "download image" for the original document (i.e. the first one listed). It'll download the filing.
1. State the secured party (the bank), the debtor, when it was filed, and the nature of the collateral. Anything surprise you about the filing?
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2. you Be the Judge 10: Conseco Finance Service Corp. v. Lee
Read the "You Be the Judge" on p. 305 of the text. It is the case of Conseco Finance Service Corp. v. Lee.
Review the facts, and the arguments of each party in the case.
Discuss:
1. the main issue(s) in the case (don't just reiterate the facts; instead consider what point of law needs to be decided); and
2. as the judge, decide for one party or the other. State your reasoning. Try to go beyond reiterating the argument given in the text. Also, don't rely on your instinct. Apply the law.
CH 14 - Sales pp. 261-277
CH 15 - Negotiable Instruments pp. 278-294
CH 16 - Secured Transactions pp. 295-314
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Question #1 JoJo Parachutes is seeking to buy silk from Ivory Road Limited. List and explain the basic and other principles of contract formation they will want to follow under UCC Article 2, including the writing and enforceability requirements, and how they will handle additional and different terms. Do not worry about the merchant exception here.
Question #2 Andrew Enterprises received a promissory note from J&J Limited. List (in bullet points) the six things Andrew will look for to determine if the note is negotiable? Explain why each of these requirements are necessary.
Question #3 Hometown Bank has loaned $1,000,000 to AquaTaste to purify, bottle, and market store-bought drinking water from the Ohio River. AquaTaste has put up its purification equipment as collateral. If you were the loan officer for Hometown, how would you go about protecting the Bank's investment? Hint: there are two main steps, with three sub steps to the first step and three ways to perform the second step.
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