Molders lien against the molds in its possession

Assignment Help Operation Management

Reference no: EM131137363

1. ABC Inc. borrowed funds from XYZ LLC to operate its auto parts business. The loan was secured by the molds that were used to form the parts. ABC contracted with FFF to make the parts and provided FFF with the molds. When ABC defaulted on its obligations to XYZ and FFF, FFF asserted a "molder's lien" against the molds in its possession. A molder's lien is similar to an artisan's lien. XYZ argued that the molds were its property. Which claim has priority? Explain.

2. Andy and Ben owned half of a two-unit residential building. Ben lived in the unit, but Andy did not. To collect a judgment against the, Dan obtained a writ of execution directing the sheriff to seize and sell the building. State law allowed a $100,000 homestead exemption if the debtor lived in the home and $175,000 if the debtor was also disabled and "unable to engage in gainful employment. Andy argued that he could not work because of "gout and dizziness." How much of an exemption were Andy and Ben allowed? Why?

Reference no: EM131137363

Questions Cloud

Prepare the entries to close the revenue and expense account : The income statement for Crestwood Golf Club for the month ending July 31 shows Green Fee Revenue $13,600, Salaries Expense $8,200, Maintenance Expense $2,500, and Net Income $2,900.

Transferred improperly to less lucrative phone store : Linda Meyer, an employee of Giant Telecom, Inc., was the ~ of a prime and very successful Giant Telecom, Inc. phone store in Delray Beach, Florida. She believes that she was transferred improperly to a less lucrative phone store and that her supervis..

Starting block for building long-term business plans : Should financial considerations be the starting block for building long-term business plans? Or, does the focus on current financial boundaries limit the growth prospects for a business?

Some examples of performance metrics : For the business that you're currently involved in (even if you're not currently employed, feel free to take a well-known business and research), please provide some examples of performance metrics that are used and share your thoughts about their ef..

Molders lien against the molds in its possession : ABC Inc. borrowed funds from XYZ LLC to operate its auto parts business. The loan was secured by the molds that were used to form the parts. ABC contracted with FFF to make the parts and provided FFF with the molds. When ABC defaulted on its obligati..

Democratic local government environment : Discuss nonprofit organizations roles and responsibilities in a democratic local government environment. Specifically, discuss a nonprofit organizations roles and responsibilities in relation to your local government or a local government you are fam..

Leading management employment lawyer-employee-related events : You are a leading management employment lawyer in the city of Absurdity in the state of California. One of your clients is Curious Creatures (CC), a company that manufactures original and bizarre stuffed animals. CC, one of the few stuffed animal com..

Prepare the closing entries at december 31 : The ledger of Swann Company contains the following balances: D. Swann, Capital $30,000; D. Swann, Drawing $2,000; Service Revenue $50,000; Salaries Expense $27,000; and Supplies Expense $4,000.

Foreign currency exchange rates refer to the relative values : A static budget enables a company to examine projected income over a range of sales levels. Foreign currency exchange rates refer to the relative values of the currencies of different countries.

User Account

All Pages