Financing statement might impact the outcome

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Reference no: EM131788153

Secured Transactions and Bankruptcy Bayside Restaurant Supplies agreed to sell 10 new commercial coffee makers and 5 freezers to [Restaurant Name] for $27,500. Bayside retained a security interest in the equipment. [Restaurant Name] agreed to pay for the equipment in equal installments over 48 months.

Evaluate Bayside’s rights as a creditor if [Restaurant Name] files bankruptcy 18 months after purchasing the equipment.

Discuss Bayside’s rights as a creditor if [Restaurant Name] sold the 2 refrigerators and 5 coffee makers for $750 approximately 30 days prior to filing bankruptcy.

Explain how a failure by Bayside to file a financing statement might impact the outcome of both scenarios.

Reference no: EM131788153

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