Ucc Case Brief

[name][subject][professor][date]NAME OF CASEIn re brain Lumber release , Inc , DebtorFACTSMinot Builders return , plaintiff creditor , filed a app arent motion for relief from robotic midriff in a nonstarter petition filed by herein debitor . It argued that it had a dianoetic bail interest in the assets of the debtor and was in fact a secured creditorThe claim of the plaintiff creditor that it is in fact a secured creditor is hinged upon two pieces of take the stand , to card , a signed U .C .C .-1 financing statement , and s eeral(prenominal) messwritten notes . The handwritten notes were offered as an authentic and faithful go into of the correspondences between the plaintiff creditor and debtor conducted oer the telephone as the terms of future purchases and credit were being negotiatedThe trustees , on the early(a) hand , objected to the motion saying that these pieces of evidence do not pay off the requirements laid down by faithfulness (specifically 30-9-203 Mont . commandment .

Ann ) inasmuch as they do not screen a subsisting and valid security accord between debtor and creditorISSUE OR QUESTIONDid the debtor penalise a security agreement in favour of the plaintiff creditor , in accordance with law and jurisprudence , which would mollify plaintiff creditor security interest over debtor s propertyDECISIONNo . No such(prenominal) security agreement , depict or implied , was ever meliorate The motion for relief from automatic stay filed by the plaintiff creditor is deniedREASON or RULEThe provisions of the render Commercial encrypt are clear on the positive requirements for the...If you want to hitch a full essay, order it on our website: Ordercustompaper.com

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