SmartBrief
Confirm favorite deletion?
Commercial Law Keyed to Zierdt, 1st Ed.
In re Circle 10 Restaurant, LLC
Citation:
519 B.R. 95 (2014)Facts
Circle 10 Restaurant, LLC operated a restaurant under the name Margarita’s in Livingston, New Jersey. On May 23, 2012, the Debtor and its principals executed a Loan Agreement with Northern Bank and Trust Company for a $375,000 loan. The Debtor also entered into a Loan and Security Agreement granting Northern Bank a security interest in all of Debtor’s personal property, including accounts, chattel paper, goods, inventory, equipment, instruments, documents, and general intangibles. On May 22, 2013, Northern Bank assigned to RELM all its rights in the loan. After the Debtor filed for Chapter 7 bankruptcy, the Trustee sold the Debtor’s liquor license for $835,000. RELM claimed a secured interest in the proceeds of the sale based on its security agreement, while the Trustee argued that under New Jersey law, liquor licenses are not property subject to security interests.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.