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Questions and Answers of Business Law

Bradley goes into bankruptcy under Chapter 7 owing $5,000 as wages to his four employees. There is enough in his estate to pay all costs of administration and enough to pay his employees, but nothing
Jessica sold goods to Stacy for $2,500 and retained a security interest in them. Two months later, Stacy filed a voluntary petition in bankruptcy under Chapter 7. At this time, Stacy still owed
A debtor went through bankruptcy under Chapter 7 and received his discharge. Which of the following debts were completely discharged, and which will remain as future debts against him? (a) A claim of
Rosinoff and his wife, who were business partners, entered bankruptcy. A creditor, Baldwin, objected to their discharge in bankruptcy on the grounds that(a) The partners had obtained credit from
Ross Corporation is a debtor in a reorganization proceeding under Chapter 11 of the Bankruptcy Code. By fair and proper valuation, its assets are worth $100,000. The indebtedness of the corporation
Alex is a wage earner with a regular income. He has unsecured debts of $42,000 and secured debts owing to Betty, Connie, David, and Eunice totaling $120,000. Eunice’s debt is secured only by a
John Bunker has assets of $130,000 and liabilities of $185,000 owed to nine creditors. Nonetheless, his cash flow is positive, and he is making payment on all of his obligations as they become due.
Karen has filed a voluntary petition for a Chapter 7 proceeding. The total value of her estate is $35,000. Ben, who is owed $18,000, has a security interest in property valued at $12,000. Lauren has
Landmark at Plaza Park, Ltd., filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. Landmark is a limited partnership whose only substantial asset is a two-hundred-unit garden
Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy Code on September 30, 2011. Conn listed Banc- Ohio National Bank as having a claim incurred in October 2010 in the amount of
David files a bankruptcy petition under Chapter 13. After the claims of secured and priority creditors have been satisfied, David’s remaining bankruptcy estate has a value of $100,000. David’s
Yolanda Christophe filed a bankruptcy petition under Chapter 13. Her scheduled debts consist of $11,100 of secured debt, $9,300 owed on an unsecured student loan, and $6,960 of other unsecured debt.
On December 17, ZZZZ Best Co., Inc. (the debtor), borrowed $7 million from Union Bank (the bank). On July 8 of the following year, the debtor filed a voluntary petition for bankruptcy under Chapter
A landlord owned several residential properties, one of which was subject to a local rent control ordinance. The local rent control administrator determined that the landlord had been charging rents
Leonard and Arlene Warner sold the Warner Manufacturing Company to Elliott and Carol Archer for $610,000. A few months later the Archers sued the Warners in a State court for fraud connected with the
In January, Roger Burke loaned his favorite nephew, JimmyWhite, his valuable Picasso painting. Knowing that Jimmy would celebrate his twenty-first birthday on May 15, Burke sent a letter to Jimmy on
Several years ago, Pierce purchased a tract of land on which stood an old, vacant house. Recently, Pierce employed Fried, a carpenter, to repair and remodel the house. While Fried was tearing out a
Gable, the owner of a lumber company, was cutting trees over the boundary line between his property and property owned by Lane. Although he realized he had crossed onto Lane’s property, Gable
Decide each of the following problems. (a) A chimney sweep found a jewel and took it to a goldsmith, whose apprentice removed the stone and refused to return it. The chimney sweep sues the
Jones had fifty crates of oranges equally divided between grades A, B, and C, grade A being the highest quality and C being the lowest. Smith had one thousand crates of oranges, about 90 percent of
Barnes, the owner and operator of Blackacre, decided to cease farming operations and liquidate his holdings. Barnes sold fifty head of yearling Merino sheep to Billing and then sold Blackacre to
Susan permitted Kevin to take her very old grandfather clock on the basis of Kevin’s representations that he was skilled at repairing such clocks and restoring them to their original condition and
Under an oral agreement, Hyer rented from Bateman a vacant lot for a filling station. Hyer placed on the lot a lightly constructed building bolted to a concrete slab and several storage tanks laid on
Elvers sold a parcel of real estate, describing it by its legal description and making no mention of any improvements or fixtures on it. The land had upon it a residence, a barn, a rail fence, a
John Swan rented a safe deposit box at the Tenth Citizens Bank of Emanon, State of X. On December 17, 2008, Swan went to the bank with stock certificates to place in the safe deposit box. After he
Lile, an insurance broker who handled all insurance for Tempo Co., purchased a fire policy from Insurance Company insuring Tempo Co.’s factory against fire in the amount of $1.5 million. Before the
On July 15, Adler purchased in Chicago a Buick sedan, intending to drive it that day to St. Louis, Missouri. He telephoned a friend, Maruchek, who was in the insurance business, and told him that he
Graham owns a building having a fair market value of $120,000. She takes out a fire insurance policy from the Bentley Insurance Company for $72,000; the policy contains an 80 percent co-insurance
Phil was the owner of a herd of twenty highly bred dairy cows. He was a prosperous farmer, but his health was very poor. On the advice of his doctor, Phil decided to winter in Arizona. Before he
Hines stored her furniture, including a grand piano, in Arnett’s warehouse. Needing more space, Arnett stored Hines’s piano in Butler’s warehouse next door. As a result of a fire, which
Curtis rented a safe deposit box from Reliable Safe Deposit Company, in which he deposited valuable securities and $4,000 in cash. Later, after opening the box and discovering $1,000 missing, Curtis
A, B, and C each stored five thousand bushels of yellow corn in the same bin in X’s warehouse. X wrongfully sold ten thousand bushels of this corn to Y. A contends that inasmuch as his five
(a) On April 1, Mary Rich, at the solicitation of Super Fur Company, delivered a $3,000 mink coat to the company at its place of business for storage in its vaults until November 1. On the same day,
Rich, a club member, left his golf clubs with Bogan, the pro at the Happy Hours Country Club, to be refinished at Bogan’s pro shop. The refinisher employed by Bogan suddenly left town, taking
Donna drove an automobile into Terry’s garage and requested him to make repairs for which the charge would be $125. Donna, however, never returned to get the automobile. Two months later, Carla saw
On June 1, Cain delivered his 2007 automobile to Barr, the operator of a repair shop, for necessary repairs. Barr put the car in his lot on Main Street. The lot, which is fenced on all sides except
Seton in Phoenix, according to a contract with Rider in New York, ships to Rider goods conforming to the contract and takes from the carrier a shipper’s order bill of lading that Seton indorses in
Scarola purchased an automobile for value and without knowledge that it was stolen. After he insured the car with Insurance Company of North America (INA) the car was stolen once again. When INA
Sears had sold to and installed in the Seven Palms Motor Inn a number of furnishings, including drapes and bedspreads, in connection with the construction of a motel on land Seven Palms owned. Sears
David E. Ross, his two brothers, and their families operated and owned the entire stock of five businesses. Ross had three children: Rod, David II, and Betsy. David II and Betsy were not involved in
Mrs. Laval was a patient of Dr. Leopold, a practicing psychiatrist. Dr. Leopold shared an office with two associates practicing in the same field. No receptionist or other employee attended the
Mr. Sewall left his car in a parking lot owned by Fitz-Inn Auto Parks, Inc. The lot was approximately one hundred by two hundred feet in size and had a chain link fence along the rear boundary to
Mrs. Mieske delivered thirty-two fifty-foot reels of developed movie film to the Bartell Drug Company to be spliced together into four reels for viewing convenience. She placed the films, which
Plaintiff, Heath Benjamin (Benjamin), found more than $18,000 in currency inside the wing of an airplane. At the time of this discovery, State Central Bank (State) owned the plane and it was being
Calvin Klein, Ltd. (Calvin Klein), a New York clothing company, had used the services of Trylon Trucking Corporation (Trylon) for more than three years, involving hundreds of shipments, prior to the
Kirkland conveyed a farm to Adland to have and to hold for and during his life and upon his death to Rubin. Some years thereafter, oil was discovered in the vicinity. Adland thereupon made an oil and
Smith owned Blackacre in fee simple absolute. In section 3 of a properly executed will, Smith devised Blackacre as follows: ‘‘I devise my farm Blackacre to my son Darwin so long as it is used as
Panessi leased to Barnes for a term of ten years beginning May 1 certain premises located at 527–529 Main Street in Cleveland. The premises were improved with a three-story building, the first
Ames leased an apartment to Boor at $200 a month, payable the last day of each month. The term of the written lease was from January 1, 2010, through April 30, 2011. On March 15, 2010, Boor moved
Jay signed a two-year lease containing a clause that expressly prohibited subletting. After six months, Jay asked the landlord for permission to sublet the apartment for one year. The landlord
In 2002, Roy Martin and his wife, Alice, their son, Hiram, and Hiram’s wife, Myrna acquired title to a 240-acre farm. The deed ran to Roy Martin and Alice Martin, the father and mother, as joint
In her will, Teressa granted a life estate to Amos in certain real estate, with remainder to Brenda and Clive in joint tenancy. All the residue of Teressa’s estate was left to Hillman College.
Otis Olson, the owner of two adjoining city lots, A and B, built a house on each. He laid a drainpipe from lot B across lot A to the main sewer pipe under the alley beyond lot A. Olson then sold and
At the time of his marriage to Ann, Robert owned several parcels of real estate in joint tenancy with his brother, Sam. During his marriage, Robert purchased a house and put the title in his name and
In 1983 Ogle was the owner of two adjoining lots numbered 6 and 7 fronting at the north on a city street. In that year, she laid out and built a concrete driveway along and two feet in front of what
Temco, Inc., conveyed to the Wynns certain property adjoining an apartment complex being developed by Sonnett Realty Company. Although nothing to this effect was contained in the deed, the sales
On January 1, Mrs. Irene Kern leased an apartment from Colonial Court Apartments, Inc., for a one-year term. When the lease was entered into, Mrs. Kern asked for a quiet apartment, and Colonial
On June 30, 2003, Martin Hendrickson and Solveig Hendrickson were married, and on January 3, 2004, a home previously owned by Martin was conveyed to them as joint tenants and not as tenants in
In 1969 a deed for land in Pitt County was executed and delivered by Joel and Louisa Tyson ‘‘unto M. H. Jackson and wife Maggie Jackson, for and during the term of their natural lives andafter
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
Clayton and Margie Gulledge owned a house at 532 Somerset Place, N.W. (the Somerset property) as tenants by the entirety. They had three children: Bernis Gulledge, Johnsie Walker, and Marion Watkins.
By separate leases, Javins and a few others rented an apartment at the Clifton Terrace apartment complex. When they defaulted on their rent payments, the landlord, First National Realty, brought an
Arthur was the father of Bridgette, Clay, and Dana and the owner of Redacre, Blackacre, and Greenacre. Arthur made and executed a warranty deed conveying Redacre to Bridgette. The deed provided that
Arkin, the owner of Redacre, executed a real estate mortgage to the Shawnee Bank and Trust Company for $10,000. After the mortgage was executed and recorded, Arkin constructed a dwelling on the
Robert and Stanley held legal title of record to adjacent tracts of land, each consisting of a number of five acres. Stanley fenced his five acres in 1986, placing his east fence fifteen feet onto
Marcia executed a mortgage on Blackacre to secure her indebtedness to Ajax Savings and Loan Association in the amount of $25,000. Later, Marcia sold Blackacre to Morton. The deed contained the
On January 1, 2011, Davis and Hershey owned Blackacre as tenants in common. On July 1, 2011, Davis made a written contract to sell Blackacre to Grigg for $25,000. Pursuant to this contract, Grigg
Barker operated a retail bakery, Davidson a drugstore, Farrell a food store, Gibson a gift shop, and Harper a hardware store in adjoining locations along one side of a single suburban village block.
Alda and Mattingly are residents of phase I of the Chimney Hills subdivision. The lots owned by Alda and Mattingly are subject to the following restrictive covenant: ‘‘Lots shall be for
The city of Boston sought to condemn land in fee simple for use in constructing an entrance to an underground terminal for a subway. The owners of the land contend that no more than surface and
In May 2001, Fred Parramore executed four deeds, each conveying a life estate in his land to him and his wife and a remainder interest in one-fourth of his land to each of his four children: Alney,
The Gerwitz family resides on a piece of land known as Lot #24 of the Belleville tract, which they acquired by deed in 1992. Shortly thereafter, the Gerwitzes began to use the adjacent vacant Lot
Leo owned a one-story, one-family dwelling in a single-family residential zoning district in Detroit. He attempted to sell the house with its adjoining lot for $138,500. Houses in the neighborhood
The Glendale Church purchased a twenty-one-acre parcel of land in a canyon along the banks of Mill Creek in Angeles National Forest. The church used the twelve flat acres next to the stream to
Robert V. Gross owned certain land on which he proposed to construct an eighty-three-unit apartment house. The land, however, was subject to a restriction imposed by a 1970 deed to a predecessor in
For seven years, Desford Potts had owned a six-acre tract of land within the corporate limits of the city of Franklin. The tract contained a livestock barn in which Potts stored lumber and other
Sam and Eleanor Gaito purchased a home from Howard Frank Auman, Jr., in the spring of 2008. Auman had completed the construction of the house in November 2003. In the interim, three different parties
Playtime Theaters and Sea-First Properties purchased two theaters in Renton, Washington, with the intention of exhibiting adult films. About the same time, they filed suit seeking injunctive relief
In 1972, South Carolina enacted a Coastal Zone Management Act requiring any person using land in a ‘‘critical area’’ to obtain a permit for any uses other than those to which the critical
State whether or not a trust is created in each of the following situations:(a) A declares herself trustee of ‘‘the bulk of my securities’’ in trust for B.(b) A, the owner of Blackacre,
Testator gives property to Tim in trust for Barney’s benefit, providing that Barney cannot anticipate the income by assignment or pledge. Barney borrows money from Linda, assigning his future
Collins was trustee for Indolent under the will of Indolent’s father. Indolent, a middle-age doctor, gave little concern to the management of the trust fund, contenting himself with receiving the
Joe Brown gave to his wife, Mary Brown, $350,000 with which to buy real property. They orally agreed that title to the real property should be taken in the name of Mary Brown but that she should hold
On March 10, John Carver executed his will, which was witnessed by William Hobson and Sam Witt. By his will, Carver devised his farm, Stonecrest, to his nephew, Roy White. The residue of his estate
Edwin Fuller, a bachelor, prepared his will in his office. The will, which contained no residuary clause, provided that one-third of his estate would go to his nephew, Tom Fuller, one-third to the
Arnold executed a one-page will, in which he devised his farm to Burton. Later, as the result of a quarrel with Burton, Arnold wrote the words, ‘‘I hereby cancel and revoke this will
The validly executed will of John Dane contained the following provision: ‘‘I give and devise to my daughter, Mary, Redacre for and during her natural life and, at her death, the remainder to go
Leonard Wolfe was killed in an automobile accident while driving his Toyota Camry. The car was rendered a total loss, and Wolfe’s insurance carrier paid his estate $18,550 for damage to the
Grace Peterson, a spinster then aged seventy-four, asked Chester Gustafson, a Minneapolis attorney, to draw a will for her. Gustafson, who had also probated Peterson’s sister’s estate, drew this
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
By his last will and testament, Henry Nussbaum made a residual bequest and devise of his estate to his niece, Jane Blair, as trustee, in trust for the education of his grandchildren. If the trust
John Hobelsberger lived alone on his farm near Kranzburg, South Dakota. A grandniece, Phyllis Raml, and her husband, Ralph, lived on and operated a farm about two miles away. Hobelsberger and the
Mamie Henry, a widow, died leaving no children, but she was survived by several nieces and nephews. At first no will was found, and Joe Barksdale, a nephew, was appointed administrator of Mrs.
On June 21, George Washington Croom died testate. In his will Croom left various bequests of real and personal property to his children and a grandchild. In Item Eight of his will Croom stated
Upon George Welch’s death, he was survived by his second wife, Dorothy Welch, and his daughter by his first marriage, Patricia Fisher. At the time George and Dorothy were married, George was in
Who are the parties (the plaintiffs and the defendant) in this lawsuit?Suppose the California legislature passes a law that severely restricts carbon dioxide emissions from automobiles in that state.
Are the plaintiffs seeking a legal remedy or an equitable remedy? Why?Suppose the California legislature passes a law that severely restricts carbon dioxide emissions from automobiles in that state.
What is the primary source of the law that is at issue here?Suppose the California legislature passes a law that severely restricts carbon dioxide emissions from automobiles in that state. A group of
Where would you look to find the relevant California and federal laws?Suppose the California legislature passes a law that severely restricts carbon dioxide emissions from automobiles in that state.
How does statutory law come into existence? How does it differ from the common law? If statutory law conflicts with the common law, which law will govern?

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