The debtor cranking gear inc the deal on september 1

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Unformatted text preview: “mechanic’s lien” or other statutory lien in favor of a bailee applies FACTS: The creditor: Robotics, Inc. The debtor: Cranking Gear, Inc. The deal: On September 1, 2011, Robotics sold a Robotic Arm Ball Bearing Infusion Tester (RABBIT) to Cranking Gear. Payment was due in full on November 1, 2011. Cranking and Robotics agreed orally that Robotics could take the RABBIT back if Cranking didn’t pay in full on time. On November 25, 2011, Cranking sent the RABBIT to Robotics for routine adjustments. It is now November 30, 2011. Cranking hasn’t paid. Robotics still has the RABBIT. Robotics wants to keep the RABBIT. Cranking wants it back. QUESTION: Advise Robotics. Explain your reasoning. Be specific. EXAM QUESTIONS -- PAGE 5 OF 5 END OF EXAM...
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This document was uploaded on 03/20/2014 for the course LAW 803B at Golden Gate.

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