Clay orally promises Trent to sell him five crops of potatoes to be grown on Blackacre, a farm in Minnesota, and Trent promises to pay a stated price for them on delivery. Is the contract enforceable?

On June 15, 2006, Justin, for consideration, executed a negotiable promissory note for $10,000, payable to Renee on or before June 15, 2011. Justin subsequently suffered financial reverses. In...

Hearsay is literally what a witness says he or she heard another person say. What makes the admissibility of such evidence potentially unethical?

Would a dress code that required men to wear three-piece suits, but stated only that women had to look professional, be discriminatory against the male employees? What differences would be considered...

The Tacoma-Pierce County Health Department conducted an investigation into the quality of care provided by ambulance service providers in its jurisdiction. On the basis of that investigation, the...

Acme Corporation decides to respond to what it sees as a moral obligation to correct for past discrimination by adjusting pay differences among its employees. Does this raise an ethical conflict...

Paul Wilkinson worked for a company that sold fuel to various military bases. He paid an employee of a competitor to provide him with information about bids for contracts for which both companies...

1. How do the requirements for negotiation of an instrument with a blank qualified indorsement, as was used in this case, differ from those for negotiation of an instrument with a special qualified...

Sterling is a college professor with an extensive stock portfolio. Last year, he met Wheeler, a stockbroker with the firm of Ransom, LaForge, and Adkins. To get Sterlings business, Wheeler offered to...

A corporation with common stock outstanding declares a nontaxable dividend payable in rights to subscribe to common stock on June 30 of the current year. Each right entitles the holder to purchase...

When Godfrey died in 2013, his assets were valued as follows: The executor sold the stock two months after the decedent's death for $2,200,000. The bonds were sold seven months after the decedent's...

Nathan is run over by a car and left lying in the street. Sam, seeing Nathans helpless state, places him in his car for the purpose of taking him to the hospital. Sam drives negligently into a ditch,...

As the building services manager for Fulton County, Georgia, Steve Fullard oversaw custodial services. Fullard determined which services to contract for, received the bids, and recommended the...

In 1998, William Larry Smith signed a lease for certain land in Chilton County, Alabama, owned by Sweet Smitherman. The lease stated that it was between Smitherman, and WLS, Inc., d/b/a [doing...

The After-School Care Corporation owned more than forty day-care centers specializing in providing care to elementary-school-aged children in the afternoons. The president of the company, Clark...

THE LEGAL ENVIRONMENT DIMENSION How could Norwest and the bank have avoided the problem that arose in this case? THE ETHICAL DIMENSION Why should the Millers be held responsible for a statement that...

The City Council for the City of Toledo, Ohio, passed the Clean Indoor Air Ordinance, No. 509-03, which regulated smoking in public places, including restaurants and bars. A number of bar,...

Wonderful Wilderness, Inc., is a tax-exempt organization. Its mission is to "explore, enjoy, and protect the wild places of the earth; practice and promote the responsible use of the earth's...

Ann is a graduate economics student at State University. State University awarded her a $1,000 scholarship. In addition, Ann works as a half-time teaching assistant in the Economics Department at...

By contract dated January 5, Rebecca agreed to sell to Nancy, and Nancy agreed to buy from Rebecca, a certain parcel of land then zoned commercial. The specific intent of Nancy, which was known to...

When a corporation wishes to issue certain securities, it must provide sufficient information for an unsophisticated investor to evaluate the financial risk involved. Specifically, the law imposes...

Elki would like to invest $50,000 in tax-exempt securities. He now has the money invested in a certificate of deposit that pays 5.75% annually. What rate of interest would the tax-exempt security...

THE ETHICAL DIMENSION If a Pride sales representative led the Inkels to believe that the dealership did not care about the excessive miles on the trade-in vehicle, should Pride be willing to incur...

Sea Green Enterprises reports the following assets and liabilities on its balance sheet. Sea Green has just lost a product liability suit with damages of $10 million being awarded to the plaintiff....

Fran owns all 100 shares of Star Corporation stock. Her stock basis is $60,000. On December 1 of the current year, Star distributes 50 shares of preferred stock to Fran in a nontaxable distribution....

1. What important internal controls were ignored when LJM1 was created? 2. How might Enron's harsh Performance Review Committee have aided company executives in committing the fraud? 3. The fraud at...

You are the sales manager of a two-year-old electronics firm. At times, the firm has seemed to be on the brink of failure but recently has begun to be profitable. In large part, the profitability is...

Tube Art was involved in moving a reader board sign to a new location. Tube Arts service manager and another employee went to the proposed site and took photographs and measurements. Later, a Tube...

Jones, a minor, owned a 2009 automobile. She traded it to Stone for a 2010 car. Jones went on a three-week trip and found that the 2010 car was not as good as the 2009 car. She asked Stone to return...

For the balance due on the purchase of a tractor Henry Brown executed and delivered to Jane Jones his promissory note containing the following language: January 1, 2011, I promise to pay to the order...

Sam Sharpe executed and delivered to Don Dole the following instrument: Knoxville, Tennessee May 29, 2011 Thirty days after date I promise to pay Don Dole or order, Five Thousand Dollars. The holder...

Reebok manufactures and sells fashionable athletic shoes in the United States and abroad. It owns the federally registered Reebok trademark and has registered this trademark in Mexico as well. Nathan...

THE LEGAL ENVIRONMENT DIMENSION The Truth-in-Lending Act, HOEPA, and other consumer protection laws exist to protect purchasers from unscrupulous lenders or sellers. As consumers become better...

The Ethical Dimension In what ways was Rosols apparent motive similar to the most common reason that ethical problems occur in business? The Legal Environment Dimension How do the rules concerning...

Frame the initial issue(s) arising from the following facts. What additional information would be helpful? a. Taxpayer purchases a ticket for the New Jersey lottery. He won $ 1,000. b. Taxpayer paid...

Hannaford is a national grocery chain whose electronic payment processing system was breached by hackers as early as December 7, 2007. The hackers stole up to 4.2 million credit and debit card...

Robert and Majorie Wake owned land that they used as both a cattle ranch and a farm. Each spring and autumn, the Wakes would drive their cattle from the ranch portion of the operation across an...

Richard, a retailer of video equipment, telephoned Craft Appliances and ordered a $1,000 videotape recorder for his business. Craft accepted Richards order and sent him a copy of the purchase...

Pearson and Steve and Tara Carlson agreed to buy a 2004 Dynasty recreational vehicle (RV) from DeMartinis RV Sales in Grass Valley, California. On September 29, Pearson, the Carlsons, and DeMartinis...

GE contracted to provide kitchen appliances for an apartment complex for $93,500. Several months later, GE discovered that a mathematical error had been made in the bid and that the bid should have...

How do state, federal, and local public records assist fraud investigations?

Discuss the authoritative value of Davees v. Contractor.

Milton Mende purchased the Star Midas Mining Co., Inc., for $ 6,500. This Nevada Corporation was a shell corporation with no assets. Mende changed the name of the corporation to American Equities...

Titan Corporation adopts a plan of liquidation. It distributes an apartment building having a $3 million FMV and a $1.8 million adjusted basis, and land having a $1 million FMV and a $600,000...

On March 31, 2011, Big Boats Company entered into a contract with Vacations Unlimited to produce a state-of-the-art cruise ship, to be completed within three years. Big Boats estimated the total cost...

Felch was employed as a member of the faculty of Findlay College under a contract that permitted dismissal only for cause. He was dismissed by action of the President and Board of Trustees, which did...

Go to Case 34.2, Burlington Northern and Santa Fe Railway Co. v. White, __ U.S.__,126 S.Ct.2405, 165 L.Ed.2d 345 (2006), on pages 703 and 704. Read the excerpt and answer the following questions. (a)...

In the late 1980s, Life Energy Resources, Ltd. (LER), a New York corporation, was a multilevel marketing network. LERs marketing plan provided that members of the general public could purchase its...

On April 15, Don Construction contracted to build a house for Jessup. The contract price was $55,000. The agreement contained a provision stating that the builder would deduct $1,000 a day from the...

ABC, Inc., a domestic corporation, owns 100% of HighTax, a foreign corporation. HighTax has $50 million of undistributed E & P, all of which is attributable to general limitation income, and $30...

Barry Engel owned and operated the Gel Spice Co., Inc. (Gel Spice), which specialized in the importation and packaging of various food spices for resale. All the spices Gel Spice imported were...

At the beginning of the current year, Sandy Brewer had a zero basis in her 38 shares of stock in Lindlee, an S corporation, a zero basis in a $5,000 note from Lindlee, and a $7,400 carryforward of a...

Daniel, while under the influence of alcohol, agreed to sell his 2003 automobile to Belinda for $8,000. The next morning, when Belinda went to Daniels house with the $8,000 in cash, Daniel stated...

What are the four requirements of a valid contract? Grant Borman, who was engaged in a construction project, leased a crane from Allied Equipment and hired Crosstown Trucking Company to deliver the...

What are five broad categories of crimes? What is white-collar crime?

Bonnie Strickland and her husband Jake formed the Strickland Family Limited Liability Company as part of their estate plan. They transferred 83 percent of the equity shares of the LLC to their...

Gwen Gullible was married to Darrell Devious. They were divorced two years ago. Three years ago (the year before their divorce), Darrell received a $ 250,000 retirement plan distribution, of which $...

Compare the tax consequences of a taxable asset acquisition and a Type C asset-for-stock reorganization, based on the following factors: a. Consideration used to effect the transaction. b....

Robert A. Kliesh, age 41, is single and has no dependents. Robert's Social Security number is 111-11-1112. His address is 201 Front Street, Missoula, MT 59812. He does not contribute to the...

Reagan National Airport in Washington, D.C., is one of the busiest and most crowded airports in the nation. Accordingly, the Federal Aviation Administration (FAA) has restricted the number of...

Simon Sharpe executed and delivered to Ben Bates a negotiable promissory note payable to the order of Ben Bates for $500. Bates indorsed the note, Pay to Carl Cady upon his satisfactorily repairing...

Michael and Edith Jones owned a home that went into foreclosure. During this time, they were contacted by a representative of Rees-Max, whose notice read: There are only a few months to go in your...

Shea & Gould, a prominent New York law firm of 230 attorneys, was formed in the early 1960s by William A. Shea, a prominent attorney. Shea Stadium was named after him for his efforts in forming the...

It was announced today that Matrix Inc. will acquire Cajun Systems. Cajun Systems has assets with a tax basis of $ 5 billion and has $ 1 billion of liabilities. Prior to being acquired, Cajun Systems...

Jerry sprayed all of the landscaping around his house with a pesticide in June 2015. Shortly thereafter, all of the trees and shrubs unaccountably died. The FMV and the adjusted basis of the plants...

Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. Using the U.S. tax rate schedule, how much federal tax will she...

Komiko Tanaka invests $12,000 in LymaBean, Inc. LymaBean does not pay any dividends. Komiko projects that her investment will generate a 10 percent before-tax rate of return. She plans to invest for...

On December 15, Judy wrote a letter to David stating that she would sell to David all of the mine-run coal that David might wish to buy during the next calendar year for use at Davids factory,...

B, a chemist, was employed by A, a manufacturer, to work on a secret process for As product under an exclusive three-year contract. A employed C, a salesperson, on a week-to-week basis. B and C...

Smith, while in the course of his employment with the Bee Corporation, negligently ran the companys truck into Williams, injuring him severely. Subsequently, the Bee Corporation and the Sea...

Rodney Sharp was a fifty-six-year-old dairy farmer whose education did not go beyond the eighth grade. Upon the death of his wife of thirty-two years, Sharp developed a very close relationship with...

U.S. antitrust law reflects U.S. economic policy. If U.S. antitrust law resolves an economic dispute among British companies, has U.S. economic policy been extended to Britain? What are the...

In 1994, Brian and Penny Grieme bought a house in Mandan, North Dakota. They borrowed for the purchase through a loan program financed by the North Dakota Housing Finance Agency (NDHFA). The Griemes...

McLin, Inc., a calendar year S corporation, holds $90,000 of AEP. Tobias, the sole McLin shareholder, has an $80,000 basis in his stock with a zero balance in the AAA. a. Determine the tax aspects if...

Demas Yan and Dong Fu made an agreement to build condominiums on Yan's land in the Chinatown section of San Francisco. Their agreement provided that Yan would own 75 percent and Fu 25 percent of the...

1. Did Drs. Shawe and Badawy misappropriate trade secrets from PID? 2. What did the defendants take from PID? 3. Can a list of patients be a trade secret?

Margaret contracted to buy a particular model Rolls-Royce from Paragon Motors, Inc. Only one hundred of these models are built each year. She paid a $3,000 deposit on the car, but Paragon sold the...

Berger was planning to produce a fashion show in Las Vegas. In April 1965, Berger entered into a written licensing agreement with CBS Films, Inc., a wholly owned subsidiary of CBS, for presentation...

Analyze caps and limitations on litigation awards using the analysis of rent control in Chapter 2.

Wearing seat belts and shoulder harnesses is an efficient means of minimizing the costs of automobile accidents. Assuming that the benefits of these passive restraints exceed their costs, but that...

In September 2001, Cory Babcock and Honest Air Conditioning & Heating, Inc., bought a new 2001 Chevrolet Corvette from Cox Chevrolet in Sarasota, Florida. Their retail installment sales contract...

Tracy and Brenda are equal partners in Crescent Home Furniture, which is organized as an S corporation. For the year, the company reports sales revenue of $330,000 and business expenses of $195,000....

Margaret Cleary is a paralegal who works for a law firm that requires her to bill clients seven hours a day. One of Margarets assignments was to prepare interrogatories on a real estate case. She...

What is the subject of each of the following IRS Notices? a. Notice 89-114 b. Notice 99-51 c. Notice 2000-28

Each of the following examples presents a brief summary of the court opinion, followed by a client's fact situation. For each client fact situation, parts A through G, determine the following: 1....

Tim is a real estate broker who specializes in commercial real estate. Although he usually buys and sells on behalf of others, he also maintains a portfolio of property of his own. He holds this...

Davis Ajouelo signed an employment contract with William Wilkerson. The contract stated: . . . whatever company, partnership, or corporation that Wilkerson may form for the purpose of manufacturing...

Susan Guinta is a real estate salesperson. Smythe Cramer Co. went to an Ohio state court and obtained a garnishment order to attach Guintas personal earnings. The order was served on Russell Realtors...

THE E-COMMERCE DIMENSION Is a mistake such as the one in this case likely to occur when software is used to draft a document? Why or why not? THE ETHICAL DIMENSION What may have motivated the...

Bad Boy Enterprises LLC (BBE) designs and manufactures the Bad Boy Classic vehicle, an electric four wheel drive vehicle that is built on a golf cart chassis. The buggy is designed primarily for off...

Alitech Corp. is a small midwestern business that owns a valuable patent. Alitech has approximately 1,000 shareholders with 100,000 authorized and outstanding shares. Block Corp. would like to have...

Able Time Inc. imported a shipment of watches into the United States. The watches bore the mark TOMMY, which is a registered trademark owned by Tommy Hilfiger. U.S. Customs seized the watches...

1. How might Lt. Johnson address the burglary problem more effectively? 2. If Lt. Johnson decides on a problem solving approach, who should he include in his group of problem solvers? Be creative. 3....

Shirley Parker is the legal name of well-known actress Shirley MacLaine, who contracted with Twentieth Century Fox Film Corporation to play the female lead in a picture entitled Bloomer Girl, a...

Lion Raisins, Inc., is a family-owned business that grows and markets raisins to private enterprises. In May 1999, a USDA investigation reported that Lion appeared to have falsified inspectors'...

To: [Your name] From: Supervising Attorney Re: Mrs. Joyce Helger; probate of copy of lost original will We represent Mrs. Helger in the probate of her husband's estate. Mr. Helger died four weeks ago...

Kase, an individual, purchased some property in Potomac, Maryland, for $150,000 approximately 10 years ago. Kase is approached by a real estate agent representing a client who would like to exchange...

New West Fruit Corporation (New West) and Coastal Berry Corporation are both brokers of fresh strawberries. In the second half of 2009, New Wests predecessor, Moncs Consolidated Produce, Inc., loaned...

Judy worked the morning shift at Wild Oats. She bought a Pepsi but got too busy to drink it, so she left it on a shelf behind the counter to drink the next day. Cindy was working that afternoon. She...

Restate persuasively each of the following issues. Each issue should be redrafted twicepersuasively from the view of the opposing sides. A. Under the provisions of the exclusionary rule, should...