DISCUSS EACH QUESTION BASED ON THE ISSUE OF LAW PRESENTED. IF THERE IS A SPECIFIC THEORY OR ARGUMENT YOU ARE USING, THEN QUALIFY YOUR ANSWER BY SPECIFICS AND/OR THE LAW OR RULE/CASE LAW ETC...THAT YOU ARE CITING. YOUR CONCLUSION IS AN IMPORTANT PART OF YOUR ANSWER...DISCUSS YOUR REASONING.

1. Essex, a manufacturing company is in serious financial difficulty and is unable to meet current unsecured obligations of $1,340,000.00 to some 20 creditors, who are demanding immediate payment. In that creditor list, Essex owes Steven Machine Corporation $15000.00 on a secured financing agreement for a CAD machine that was purchased last year.

DISCUSS THE FOLLOWING:

WHAT ARE THE ISSUES OF LAW...WHAT LEGAL OPTIONS ARE AVAILABLE TO THE CREDITORS AND ESSEX?

DISCUSS How a Bankruptucy estate is administered? What chapters would be best here and why? Why not he other chapters?

When are debtor's rights and duties in bankruptcy?

When are debts discharged in bankruptcy? What rights might Steven Machine have? Discuss option, and how, and if they can be purrsued.

DISCUSS EACH QUESTION BASED ON THE ISSUE OF LAW PRESENTED. IF THERE IS A SPECIFIC THEORY OR ARGUMENT YOU ARE USING THEN QUALIFY YOUR ANSWER BY SPECIFICS AND/OR THE LAW OR RULE/CASE LAW ETC...THAT YOU ARE CITING. YOUR CONCLUSION IS AN IMPORTANT PART OF YOUR ANSWER...DISCUSS YOUR REASONING.

4. Suzy Bartles enters into an oral contract to purchase a tract of land from Bill Hermes. The land is considered worthless, but Bartles feels that she has discovered a possible usage that would drastically increase the value of the land. To assure herself of the potential value of the land, Bartles orally hires an attorney to investigate the title and records associated with the land in question. Before gaining any information from her attorney, Bartles orally contracts with a builder to construct a huge building on the site. Because of the size of the project, a completion time is difficult to predict. Bartles now discovers that the land is indeed useless, a fact that she obtains through information from her attorney.

Bartles now refuses to honor her contracts with Hermes, her attorney, and the builder. DISCUSS, Must Bartles honor her contractual agreements?

DISCUSS AND DECIDE BOTH CASES. WHAT LAWS/ISSUES OF LAW WILL YOU USE TO MAKE YOUR POSITION.

DISCUSS EACH QUESTION BASED ON THE ISSUE OF LAW PRESENTED. IF THERE IS A SPECIFIC THEORY OR ARGUMENT YOU ARE USING THEN QUALIFY YOUR ANSWER BY SPECIFICS AND/OR THE LAW OR RULE/CASE LAW ETC...THAT YOU ARE CITING. YOUR CONCLUSION IS AN IMPORTANT PART OF YOUR ANSWER...DISCUSS YOUR REASONING.

5. Louise Feldspar obtained the exclusive right to sell TastyCrunchy Chicken in a specified area. Under the agreement, Feldspar was permitted to use the TastyCrunchy name and logo for her restaurant and agreed to conform with TastyCrunchy's restaurant requirements. She purchased her equipment-as well as the chicken she served-from the firm. She agreed to devote a certain percentage of her revenues to promoting the TastyCrunchy operation in local media. The operation was successful from the start, and Feldspar has had no problem meeting the sales quotas imposed by TastyCrunchy. The past year TastyCrunchy informed Feldspar that it intended to open a new restaurant on an interstate highway that had just been completed in her exclusive area of trade. Because her operation would be competition for the new store, Feldspar's right to sell TastyCrunchy products and use the name TastyCrunchy was revoked.

DISCUSS Louise's legal RIGHTS AND OPTIONS.