Gebbia-2011-fall-sectrans-exam

It offered discounted prices on inventory at store 3

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Unformatted text preview: #3). On November 18, 2011, SellsIt held a “one day only” sale at Store #3. It offered discounted prices on inventory at Store #3 only. It also offered for sale all of the Store #3 furniture, fixtures and equipment. After the sale, SellsIt moved the remaining inventory from Store #3 to its other two stores. It donated the few remaining items of furniture, fixtures and equipment to charity. EXAM QUESTIONS -- PAGE 3 OF 5 BUYER On November 18, 2011, Bobby Buyer bought the following items from SellsIt at Store #3 for use in his dental practice: 4 new MakesIt brand computers, 2 new MakesIt brand printers, 2 used desks, 2 used chairs. Yesterday, November 29, 2011, Bobby received a letter from Bank B demanding that Bobby turn over to Bank B each of the 10 items of “Bank B’s collateral” that Bobby had purchased from SellsIt. Today, November 30, 2011, Bobby received a letter from Bank A demanding that Bobby turn over to Bank A each of the 10 items of “Bank A’s collateral” that Bobby had purchased from SellsIt. QUESTION 2: Q2A: 1...
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This document was uploaded on 03/20/2014 for the course LAW 803B at Golden Gate.

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