Question: Ronald Allegretti purchased a bedroom set valued at 900 and
Ronald Allegretti purchased a bedroom set valued at $900 and a television set valued at $350 from Goldblatt Brothers, a furniture and appliance store, on a revolving credit account. Under the terms of the revolving credit agreement and the credit slip that was signed at the time of each purchase, Goldblatt's reserved a security interest in all goods sold on credit to Allegretti. Goldblatt's then assigned its interest in the extended credit agreement to General Electric Credit Corporation. Neither filed a financing statement. Allegretti subsequently filed a voluntary petition in bankruptcy, and one of the questions in the bankruptcy action was whether Goldblatt's, and in turn General Electric Credit Corporation, held a perfected security interest in the bedroom set and the television. Did the creditors hold a perfected security interest in the bedroom set and the television set?
Answer to relevant QuestionsOn October 28, 1983, Steve Gresham, doing business as Midway Cycle Sales, entered into a Wholesale Financing Agreement with ITT Commercial Finance Corporation. The agreement was to finance the purchase of new motorcycles ...David Hott was a college graduate with a degree in business administration who was employed as an insurance agent. He and his wife graduated from college in 1996. At the time he graduated, Hott had outstanding student loans ...Is the following instrument a note, a check, or a draft? Why? If it is not a check, how would you have to change it to make it a check? To: Arthur Adams January 1, 2013 TEN DAYS AFTER DATE PAY TO THE ORDER OF:Bernie Brown ...Charles Alcombrack was appointed guardian for his son, Chad Alcombrack, who was seven years old and the beneficiary of his grandfather's life insurance policy. The insurance company issued a check for $30,588.39 made payable ...Clarice Rich was employed by the New York City Board of Education as a clerk. It was her duty to prepare requisitions for checks to be issued by the board, to prepare the checks, to have them signed by authorized personnel, ...
Post your question