Problem
• Angela is the trendiest hair stylist in Michigan. She has movie stars flying in from all over the world, begging her to cut and style their hair. She decides to expand her business and buy a commercial property to build a new state-of-the-art salon and spa. Does she have to put a contract for purchasing real property in writing, or can she easily make an enforceable, verbal agreement to purchase it? Cite the Rule of Law you are basing your answer upon.
• Angela hears about a local beauty supply company that is going out of business. A friend tells her the beauty supply is filing for "straight bankruptcy." What does that mean and would it be filed in state of federal court?