Business Law

For this assignment, you will be required to do a written analysis of the scenario below using the IRAC method of analysis. Use the BU310 Unit 6 Assignment Template Download BU310 Unit 6 Assignment Template
[Word] provided for this assignment to assist you with formatting as per the IRAC requirements.

Scenario

Cozier owned and operated Big River Harley Davidson in Wapello, Iowa. As required by law, Cozier took out a motor vehicle dealer’s surety bond for $35,000 with United Fire and Casualty Insurance. The bond protects retail customers who get stuck when a motor vehicle dealer, perhaps because of fraud, does not deliver a vehicle that has been purchased. The surety bond was in force when Big River went out of business, and Cozier left the state. While in business, Big River sold a Harley to Connell Harley Davidson in Norfolk, Nebraska. Connell paid $12,000 for the Harley that was never delivered. Connell sued United Fire as surety for the $12,000.

Discuss whether Connell can recover. In your discussion, you will want to analyze the:

• Scope of Coverage Under the Surety Bond Provisions.
• Scope of Surety Bond Coverage Under Iowa Code Section 322.4(7).
• Policy reasons underlying Iowa Code chapter 322.

Submit

Submit a Word Document containing your assignment and the following requirements:

• Paper Requirements – IRAC Method of Analysis using the headings below:IssueRuleAnalysisConclusion
• APA Requirements1″ inch marginsTimes New Roman 12 pt fontDouble-SpacedTitle PageReference Page
• Your assignment should be 3 – 4 pages not including the title and reference page.
• A minimum of three (3) scholarly resources is required.

Running head: SECURED TRANSACTIONS
Secured Transactions
{Your Name Goes Here}
Herzing University
1
SECURED TRANSACTIONS
2
Secured Transactions
ISSUE
Identify the issue/breach in law based on the scenario. The issue should be one
sentence/question. Here is an example of how this should be written.
Example:
Does the Texas statute violate a constitutional right to have an abortion?
LAW ON THE ISSUE
You are expected to deal with the principle of law on the issue identified in the issue. In this
regard, you are required to use case law and/or statute to support your issue. The topic here is
secured transactions, specifically surety so you will need to research the law on surety as
applicable to the issue identified. Your case law or statute should be properly referenced.
Example:
The State of Texas asserts its rule (a law banning all abortions) is furthered by 2 interests:
(1) Protecting prenatal life and (2) the medical safety of woman. The court accepts these
interests, but rejects Texas’s absolute rule because:
1. There are 2 counter-weighing interests of the woman:
a. The woman has a privacy right grounded in a “penumbra” of Amendments 1, 4,
5, 9, 14, because “activities relating to marriage, procreation, family relationships, and
child rearing and education” are “fundamental” and “implicit in the concept of ordered
liberty.”
b. The woman also has an interest in avoiding possible severe physical and
psychological harm if an abortion is denied.
SECURED TRANSACTIONS
3
2. Also, a fetus is not a “person” within the meaning of the constitution, so it
doesn’t get protection as a person.
3. Therefore, a proper rule balances the interests of the state v. the interests of
the woman: in the early stages of pregnancy, the woman has stronger interests than the
state, but as a fetus becomes more advanced, the state interests in prenatal life and a
woman’s health grow to be “compelling,” thus overriding the woman’s interests. This
results in a 3-part RULE (trimester framework) the court announces:
a. first trimester of pregnancy: no/little state interest in regulating abortion, so
most abortion regulations are invalid.
b. second trimester: moderate state interest (medical health of woman) so most
medical regulations are okay.
c. third trimester: Compelling state interest (fetal viability) so can outlaw abortion
except to save woman’s life.
ANALYSIS OF THE LAW TO THE ISSUE
You will begin this first paragraph by introducing the information for your analysis section. This
will be a general introductory paragraph that speak to surety. You will explain in detail what
surety is and when and how it is applied. Use case law, statute or legislation to support these
ideas. This paragraph should include scholarly support.
In this second paragraph, you will need to discuss the scope of coverage under the Surety Bond
Provisions. You will discuss Connell’s argument as to the provisions of the bond and the
coverage than a retail motor vehicle surety bond statute should require. How does the scope of
the statutory bond come into your discussion as it relates to the express terms of the statute? In
SECURED TRANSACTIONS
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other words, given the rule of law that should apply, which party wins according to that rule
given the facts of the case being heard? The reasoning of the court here should consider the facts
of the case, and might analogize or distinguish the facts of the current case to the facts of earlier
similar or related cases. You should explain all this in your own words, quoting only an
occasional word or phrase. Do a detailed and through analysis. Do not cut and paste the law into
the body of your work. You must have at least one case law of statute to support your analysis.
In this third paragraph, you will discuss the scope of surety bond coverage under Iowa Code
Section 322.4(7). Your application of the applicable version of Iowa Code section 322.4(7)
should set out the terms and conditions for recovery under a retail motor vehicle dealer license
bond. The reasoning of the court here should consider the facts of the case, and might analogize
or distinguish the facts of the current case to the facts of earlier similar or related cases. You
should explain all this in your own words, quoting only an occasional word or phrase. Do a
detailed and through analysis. Do not cut and paste the law into the body of your work. You must
have at least one case law of statute to support your analysis.
In this fourth paragraph, you will discuss the policy reasons underlying Iowa Code chapter 322.
Described Iowa’s Code chapter 322 as a regulatory law and not merely a licensing act for raising
revenue. Discuss how the policy contemplates protecting consumers. Make your arguments
based on the language of the Iowa Code. Explain how the rule of law specifically apply given the
specific facts of the case at issue. The reasoning of the court here should consider the facts of the
case, and might analogize or distinguish the facts of the current case to the facts of earlier similar
or related cases. You should explain all this in your own words, quoting only an occasional word
SECURED TRANSACTIONS
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or phrase. Do a detailed and through analysis. Do not cut and paste the law into the body of your
work. You must have at least one case law of statute to support your analysis.
CONCLUSION:
The conclusion is written in one sentence. This is the answer to the issue you identified.
Example:
Since John did not make a binding offer there is no agreement and as such, John cannot
enforce the contract.
SECURED TRANSACTIONS
6
References
The references used in your assignment should be listed here. The reference list will begin on a
new page. References are listed in alphabetical order. The second line of each reference should
be indented. Here is a link to three websites that will help you format your reference page.
https://owl.english.purdue.edu/owl/resource/560/05/
https://owl.english.purdue.edu/owl/resource/560/10/
https://owl.english.purdue.edu/owl/resource/560/08/