381 Week 5 Learning Activities

381 Week 5 Learning Activities

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Learning Activity #1:


The Case of the $10,000 Check

Carlisle Company owed Jack $10,000 and to pay the debt, gave Jack a check for $10,000. The check was drawn on First Bank and made payable to Jack. Later, Jack indorsed the check and delivered it to Fast Cash Finance Company as security for an $8,000 loan he received from that finance company. 17 months after receiving the check, Fast Cash presented it for payment at First Bank. First Bank dishonored the check due to insufficient funds. Fast Cash informed Carlisle of the dishonored check and demanded payment. Carlisle refused. Fast Cash sued Carlisle. Carlisle claims the check had “lost its character” as a negotiable instrument. The questions for the court are:

1. Does the check lose its negotiability because of the passage of time?

2. Even if the check was somehow non-negotiable, is the drawer of the check, Carlisle, still liable to the payee for the amount of the check?

As the judge in this case, answer the two questions and support it. You do not want to be reversed on appeal!


Problem 1:

A contractor performed a series of tasks in the improvement and renovation of Jack and Jill’s home. The total cost of the work amounted to $1450.00. An invoice was presented to the couple for that amount. 60 days later, the invoice remained unpaid.

What remedies are available to the contractor to collect on the unpaid invoice?

Problem 2:

Jack brought his car into Slick Auto for repairs to the cooling system. The cost of the work was $1120.00. When the work was completed, Slick Auto called Jack and advised him that the car was ready and that the cost for the work was $1120.00. Jack never returned to the dealer to pick up the car, despite receiving several voicemails from the dealer and a certified letter advising him that a Mechanic’s Lien had been placed on the car.

As Slick Auto’s lawyer, what course of action would you advise your client to take?

Learning Activity #2


You are a lawyer in Legal Aid. A young couple comes to your office and asks for assistance regarding their indebtedness and their inability to meet their monthly payments. They rent an apartment and own free-and-clear a late model car. Their total indebtedness is approximately $12,000. Of that sum, $9000 is unsecured credit card debt. The remainder is money owed to RAC for a wide-screen TV, a desk top computer and some furniture. They have a small savings account. Both husband and wife are employed, with the husband working as an IT technician and the wife as a hair dresser. Their monthly take home pay between them is $3500. Their rent is $1200 per month. They make the minimum monthly payments on their credit card debt, and because of their age and limited credit history, pay a high interest rate on that debt.

What advice would you give this couple in terms of seeking relief from this debt? Would you advise bankruptcy? What Chapter? And what would be the pros and cons considering the couple’s present situation? Are there any other remedies that do not involve filing for bankruptcy? What property would be protected if they filed for bankruptcy?


The Bankruptcy of Jack Slick

Jack Slick, owner of Slick Autos, filed for personal bankruptcy under Chapter 7 to avoid payment of a debt to a business competitor. The debt amounted to approximately $50,000. Jack’s property consists of a family home valued at $2 million, a holiday home on the Cayman Islands (off-shore) worth $500,000, a Maserati automobile worth $150,000, a Mercedes Benz worth $50,000 and a Ford Focus worth $9,000. In addition, he owns works of art estimated to be valued at $1,500,000.

Prior to filing for bankruptcy, title in the Maserati was transferred to his son, and title to the Mercedes Benz as transferred to his nephew. In addition, he donated the artwork to the local museum and also made a contribution to his church of $5,000. Further, prior to filing, he paid all his outstanding debt, including credit cards and other obligations.

Jack lives in the family home. He claims no income from Slick Autos and lists a monthly stipend of $5000 from a trust set up by his grandfather. He is paying $1000 per month alimony to his first wife. Jack claims a Homestead Exemption on the home that is listed as an asset in his financial statement along with the Ford Focus. His single liability is the debt of $50,000.

As the Bankruptcy Trustee in this case, how would you handle Jack’s bankruptcy claim?

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