Bankruptcy and Leases Case Study Order Instructions: Please read below for information concerning assignment. Support responses with examples and use APA formatting in the paper.
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Please note that when you log into the website you must click launch class, and on the next screen click syllabus to view this week’s readings (week 4) and Academic Resources to access the school’s library.
To support your work, use the textbook, lectures and scholarly outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format.
Select TWO of the three case studies. Post your document to the W4: Assignment 2 Dropbox by Saturday, October 29, 2016. It is not necessary to copy the case study into the paper. Label the beginning of each case study with the number you selected (e.g. Case Study 1). Cite your sources in APA format on a separate page.
Case Studies
Case Study 1: Bankruptcy
Paul is employed as a welder for Baxter Medical and earns $45,000 a year. Paul’s car is in the shop having a new transmission installed. Paul also has a small house on which he is paying the mortgage payments. Paul also had credit card debt of $4,000 and owes $10,000 in student loans. Paul is contemplating filing for bankruptcy, but he is not sure which type of petition to file. Paul also wants to know whether the auto repair costs, mortgage payments, credit card debt and student loans are dischargeable. Which bankruptcy filing is most appropriate for Paul? Are Paul’s debts dischargeable? Provide specific support for your answer using the applicable bankruptcy law.
Scenario 3: Leases
Tina rented a home from Dale. Noticing that one side of the stair railing leading to the front porch was loose, Tina hammered in a nail to secure it. When the rail became loose again, Tina contacted Dale to repair it. Dale came out while Tina was at work and replaced the nail with a screw. Several days later, Tina’s mother, Pearlie, came to visit. Her mother grasped the railing when climbing the stairs. The railing came loose causing Pearlie to lose her balance and fall down the steps. Pearlie suffered a broken hip and had to recover in a rehabilitation center. Pearlie sued Dale to recover her medical expenses, damages for emotional distress and pain and suffering. What are the arguments for each party? Decide which party should win and provide support for your answers using the applicable law and/or text material.
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Would like to have seen a stronger use of case law, examples, and statutory authority woven into the written paper.
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Bankruptcy and Leases Case Study Sample Answer
Case Study 1: Bankruptcy
Bankruptcy proceedings can offer persons or businesses temporary or permanent relief from debts. Individuals can adopt bankruptcy proceedings like liquidation that with exceptions liquidates all debtors’ assets to pay debts. Those debts that are due or are partially paid are discharged with some exception. A chapter 13 bankruptcy enables individuals with regular income to develop a plan to repay all or part of their debts (Twomey, Jennings & Greene, 2015).
A chapter 13 bankruptcy would be the most appropriate bankruptcy proceedings for Paul. The chapter enables debtors to propose a settlement plan that will make repayments to creditors over three to five years. Paul is eligible for chapter 13 reliefs because he receives a regular income, his unsecured debts like credit card debt are less than $383,175, and secured debts, such as mortgage debt are less than $1,149,592. Moreover, chapter 13 bankruptcy will provide Paul an opportunity to save his house from foreclosure and keep up mortgage payments. The plan will allow Paul to reorganize secured debts with exception of mortgage debt and extend them over the period of the proposed plan (United States Courts, 2015).
In chapter 13 bankruptcy, Paul will repay a certain amount of his debts through the repayment plan, but the amount he will pay would depend on his debts, income, and expenses. Priority debts should be paid in full, nevertheless, non-priority unsecured debts do have to be paid in full. The remaining balance of Paul debts will be discharged after completion of the payment plan, however some remaining non-priority, unsecured debts will not be discharged when Paul chapter 13 plan completes. The remaining non-priority unsecured debts of credit card and repair costs will be discharged after completion of Paul chapter 13 plans. Mortgage and student loan debt will not be discharged, however, in certain situations, the interest on the student loan can be discharged, but not the principal amount (FindLaw, 2016).
Scenario 3: Leases
The property owner is responsible for protecting the safety of the tenants by repairing the rental properties tenants occupy. In certain situations, this responsibility extends to those who visit the tenants. Premise liability that governs personal injury cases where the injury was caused by a faulty condition on someone property suggests that the property owner can only be liable if the tenant can demonstrate that some facts are true, such as failure of property owner to repair the property (Nolo, 2016).
Pearlie argues that Dale, the property owner is responsible for the injuries she sustained after falling down the steps. Pearlie argues that it was Dale responsibility to maintain all common areas like stair railing in a safe condition for the use of tenants and other people visiting the property. Moreover, Dale did not take reasonable actions that would have prevented the injury instead, he did an improper repair on the stair railing. On the other hand, Dale argues that he did not violate his duty of care because he came and fixed the stair railing after being notified by Tina. Hence, he is not liable for Pearlie injuries (Nolo, 2016).
Pearlie should win the case because she can prove some facts that show Dale is liable for her injuries. According to premise liability law, Pearlie has proved that Dale failed to do appropriately repair to the stair railing and she suffered a broken hip after falling down the steps. Therefore, Dale is liable for Pearlie injuries (Nolo, 2016).
Bankruptcy and Leases Case Study References
FindLaw. (2016). Who Can File for Chapter 13 Bankruptcy? Retrieved from http://bankruptcy.findlaw.com/chapter-13/who-can-file-for-chapter-13-bankruptcy.html
Nolo. (2016). Tenant Injuries: Landlord Liability and Insurance. Retrieved from http://www.nolo.com/legal-encyclopedia/tenant-injuries-landlord-liability-insurance-faq- 29052.html
Twomey, D., Jennings, M., & Greene, S. (2015). Anderson’s business law and the legal environment: Comprehensive volume (23rd Ed). Canada: Cengage learning
United States Courts. (2015). Chapter 13 – Bankruptcy Basics. Retrieved October 21, 2016, from US Courts Website: http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy- basics/chapter-13-bankruptcy-basics
