Business Law Discussion Essay Assignment
I’m working on a business law discussion question and need an explanation and answer to help me learn.
Gilbert and Kimberly Barnes filed a voluntary Chapter 7 petition in the U.S. Bankruptcy Court for the District of Maryland. Subsequently, they moved to avoid a non-purchase money lien held by ITT Financial Services on their exempt “household goods.” Among the goods that the Barneses were claiming as “household goods were a digital video disk (DVD) player, a 12-gauge pump shotgun, a 20-gauge shotgun, a 30-06 rifle, and a pistol. ITT contended that the DVD player and the firearms were not household goods that they could be exempt. Under Maryland law, household goods are items of personal property necessary for the day-to-day existence of people in the context of their homes.
Should the court consider the DVD player and firearms to be “household goods.”? Please provide your analysis in at least 12 sentences.
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