Trustee in bankruptcy argued that bmw security interest

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Reference no: EM132146075

On October, 13, 2011, the debtor, Carl Davis, purchased and took possession of a 2010 BMW 328i. The debtor granted a security interest in the car to the dealer in the purchase contract, which the dealer then assigned to BMW. On Dec. 24, 2011, the Department of Motor Vehicles issued a certificate of title for the car, noting BMW's security interest. BMW did not file a financing statement. On January24, 2012, less than 90 days after BMW's lien was noted on the certificate of title, the debtor petitioned for relief under Chapter 7 of the Bankruptcy Code, listing the car as the bankruptcy estate's only asset. The Trustee in Bankruptcy argued that BMW's security interest was never properly perfected since BMW never filed a financing statement, and was, therefore, inferior to its claim.

Write a brief on behalf of Plaintiff or Defendant. Your grade will be based upon: (1) quality of writing(2) depth of analysis and legal reasoning(3)quality of research--you must cite at least one external source that guided the analysis. (4) demonstrated ability to use MSWord in an appropriate and professional manner

[I. Statement of the Facts (Brief recitation of the facts) II. Issue (Legal question) III. Application (Apply the law to the facts) IV. Decision (Conclusion)]

Reference no: EM132146075

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