Sally's Jam Co. sells jams. Sally develops a new line of jams for diabetic people using a secret recipe that only one of her employees, James, knows. Sally gets James to sign a non-disclosure agreement, in which he promises not to disclose any details about the recipe. A month later, through reverse engineering, The Sweet Jam Jar Co., Sally's main competitor, discovers the secret recipe and starts producing its own line of jams for diabetic people. Sally accuses James of releasing the secret recipe to The Sweet Jam Jar Co. and decides to sue him. James maintains that he abided by the agreement, and intends to argue that the agreement he signed is not valid anyway. Sally also sues The Sweet Jam Jar Co. for inappropriately obtaining its secret recipe.A week later, Sally receives a call from Violet, a supermarket owner, who explains that Sally's jam jars were damaged during delivery, and demands that a replacement delivery be made immediately. Sally explains that she can only deliver the day after tomorrow, but, worried about losing future business with Violet, Sally contacts Isabel, a home-based organic jam producer, to ask whether she can make a delivery to the supermarket the same evening. Isabel agrees, and Sally pays her $4,000 for producing and delivering 400 jam jars to Violet. When Isabel delivers the jam jars, Violet refuses to accept them, arguing that she has no contract with Isabel. Isabel assures Violet that her jams are the best in the industry, as they are homemade and use premium ingredients. Despite these reassurances, Violet refuses the delivery and Sally, arguing that Violet has no legal right to refuse performance from Isabel, decides to sue Violet.Two weeks later, Alex approaches Sally to buy the rights to her organic jam product line. He explains that the product line will be taken over by a jam company. Sally indicates that she intends to stop producing organic jams, but that she does not want to sell the product line to The Sweet Jam Jar Co., which would gain a competitive advantage by taking over her organic jams. Alex reassures her that he does not work for The Sweet Jam Jar Co. Sally notes this exception in the proposed contract and they both sign the contract, in which she promises to sell him all rights to her organic jam product line in return for $2,000,000. Two days later, Sally discovers that her organic jams will now be sold by The Sweet Jam Jar Co. She contacts Alex, who tells her that he is a freelance purchase agent, and that he was acting on behalf of The Sweet Jam Jar Co. to complete the purchase of her product line. Sally does not want to go through with the sale, but Alex threatens to sue Sally, arguing that she is bound by the signed contract. With several lawsuits in sight, and no funding to cover daily expenses, Sally's Jam Co. decides to file for Chapter 7 bankruptcy. The bankruptcy trustee discovers that the last payment Sally was able to make was for $50,000 a month ago to Sugar Cane Co., a supplier and an unsecured creditor, whose owner insisted on receiving its previous 6 months' payments before any new orders would be taken. Sally's Jam Co.'s only assets are business premises worth $550,000 and raw materials (including glass jars) worth $250,000. Its bankruptcy filing lists three additional secured creditors: Alpha Bank, which has provided a loan of $500,000 on January 15th, 2019, secured by Sally's Jam Co. premises, but not properly recorded; Gamma Bank, which has provided a loan of $300,000 on May 10th, 2019, secured by all raw materials, presently owned and future acquired, and with a financing statement filed on May 20th, 2019; and Clear Glass Co., which is owed $150,000 on account of glass jars provided to Sally's Jam Co. on December 12th, 2019, over which it has a security interest and has a financing statement filed on December 15th, 2019.

Discuss, using the IRAC method, the results of all the lawsuits, including the bankruptcy case, referred to in the case.