Business Law Hi Value Shoe Store essay case study.

Business Law Hi Value Shoe Store essay case study.

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Business Law Hi Value Shoe Store essay case study.

Research Project Essay and Discussion: Hi-Value Shoe Store

The Scenario
Mary is the sole owner of Hi-Value Shoe Store, a small business located in a suburban working-class

community. She inherited the business from her Aunt Marty three years ago. Up until then, business

had been slow because of the declining economy. Lately, however, business has picked up, and

revenues have doubled because of an increase in employees at the neighboring manufacturing plant.

The plant recently received a valuable contract from the federal government to produce bulletproof
vests.
As a result of the increase in business, Mary hired two new full-time employees but was short on the

funds necessary for expansion of the business. Mary was able to obtain a loan from Community Bank,

but the bank required a security interest and that Mary be personally liable on the note. The language of

the security agreement contained the following clause: “The note is secured by the inventory of Hi-

Value Shoe Store, currently owned and any later acquired inventory, until said note is fully paid and

satisfied.” The bank immediately perfected the security interest by filing a financing statement.

Mary decided to purchase inventory from ABC Wholesale Suppliers (ABC) on credit a few weeks after

obtaining the loan from the bank. She took possession of the inventory on April 16. ABC required that

she sign a promissory note and security agreement, with the inventory being listed as collateral.

For at least one year, Mary was able to make payments on both obligations from the proceeds of the

business. Unfortunately, the manufacturing plant lost its government contract and eliminated 50% of its

workforce over a six-month period. As a result, Mary’s business lost customers and began to operate at

a loss. It became unable to pay its obligations to both the bank and ABC and ended up defaulting on

both loans.

Both secured parties sought to repossess the inventory from Mary’s store, sell the inventory, and then

hold Mary personally liable for any deficiency. Mary, aware that she might be held personally
responsible for the debt, considered declaring bankruptcy.

Instructions
After reading the scenario, write an essay responding to the questions below.

To answer the questions, please conduct research beyond the textbook from this course – for example,

utilize Web sources, resources at your public library, and your professional networks.

Your essay should be a two-page document that you will upload to this discussion board.

Post your essay in the discussion board no later than the due date (listed in the top-right corner of this

discussion page.

 

Questions
Discuss and determine which secured party has a priority under UCC Article.

Assume that the shoe store has sold some of the inventory to Lindsay, a college student. Would the

secured parties be able to repossess the shoes from Lindsay?

What affect would Mary’s filing of Chapter 7 bankruptcy have on the UCC Article 9 foreclosure process?

Business Law Hi Value Shoe Store essay case study.

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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