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Subject: LEGAL ENVIRONMENT OF BUSINESS 5. Smith's Family Restaurant LLC files for chapter 7 bankruptcy. Smith's Resturant has the following debts (see below). place a

Subject: LEGAL ENVIRONMENT OF BUSINESS

5. "Smith's Family Restaurant LLC" files for chapter 7 bankruptcy. Smith's Resturant has the following debts (see below). place a "check mark" beside the debt(s) that are secured.

Bank loan on building (W/dees of trust) for $300,000 ________

Credit card bill for $8075.00 to master-card inc. ________

I.O.U. for $5000.00 signed by owner of Smith's to his brother ________

Mechanic's lien for $4000.00 filed by Jim's plumbing service ________

$7235.00 (faxed) invoice (bill) from capital meats inc. ________

6. what creditor is thinking when she uses secured transaction(s): "_________________________________ money."

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