Discuss whether gm can accomplish its goals

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Reference no: EM131724997

General Motors (GM) sold 10 new Suburbans and 10 new Corvettes on credit to Jane's Super Chevy (JSC) car dealership. GM would like to have the legal right to receive the sales price of $1,000,000, at an annual interest rate of 8%, at 6 months from the date of the sale. It would like to be able to take this written legal right to be paid, to a bank and trade it for cash should it desire to do so. In addition, GM would like to obtain the legal right to repossess the cars should JSC fail to pay for them in a timely manner. Similarly, it would like to have a provision that protects it's financial interests, should JSC sell one or more of the vehicles or uses the vehicles as collateral to another lender. Finally, GM would like to be able to repossess the cars from buyers-in-the- ordinary-course of business should JSC sell the vehicles to customers, but fail to pay GM. Using the IRAC method, discuss whether GM can accomplish its goals.

Reference no: EM131724997

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