Answer the following (No need for inro/conclusion)
Part 1
- Does having a smartphone-based payment system entail more or fewer security risks than carrying a traditional wallet, and why?
- Can bitcoin be the currency used in a negotiable instrument? Why or why not? Please refer to Forbes article “Business Bitcoin Legitimacy, Potential Regulation (Links to an external site.)”.
Part 2
- How is a security interest created and how is it perfected? Provide an example. If you are the creditor, what is difference between having a perfected security interest and an unperfected interest? What is a “reorganization” bankruptcy and how is it different than an “ordinary” bankruptcy? Give examples of each.
- In a bankruptcy, what rights do secured creditors have over unsecured creditors, and why?
