Earlier this semester, I wrote about the importance of developing a training strategy that supports learning.  Here is the blog.

Update

Yesterday, my students had a quiz.  They really struggled, by the way. 

After the quiz, students had feedback for me…  My class is really hard.  The quizzes are extremely difficult. 

And, they want all of their classes to be like mine because they are having to learn about real world issues and challenges.  In other classes, they feel like they are wasting their time because they don’t have to apply the information to real world fact situations. 

Examples

Here are a few questions that we talked about yesterday that really stumped them…   

Question 1:  If Joe buys a stereo from Kevin, and Kevin receives a purchase money security interest (PMSI), what steps must Kevin take to perfect the security interest?  What does perfection of a security interest mean?  Why is it important?

Question 2:  If Megan buys a fur coat on layaway, is a security interest created?  What are the elements of a security interest?  How is each element satisfied or unsatisfied? 

Question 3:  Suppose that Lisa has not paid off the note from GMAC Financing on her car.  She takes the car to Kwik Kar for an oil change and doesn’t pay for the oil change.  Under Texas Law, Kwik Kar files a Mechanic’s Lien on the car (an Artisan’s Lien in the book).   As between Kwik Kar and GMAC Financing, which creditor has the higher priority?  Why?

Feedback

Can you answer the questions?   Are these the sorts of real world questions that students should be able to answer after finishing a business law class?

Filed by Coleen Davis at 2:59 pm under Business Acumen, Solving Problems, Tips for Students