Questions and Answers of Business Law Principles

Q: Discuss the three factors the court examines to determine whether to discharge the student loans.Bryan Anthony Looper (Debtor) had over $300,000 in
Q: Can a murderer inherit property from his victim? Why or why not?
Q: 1. Describe the factual situation that led to the odd circumstances of how the slayer stood to gain the decedent’s property.2. What argument is
Q: 1. What was the relationship of the testator to Taylor? What were his family relationships like?2. What factors are considered when determining
Q: 1. Applying the laws of intestacy and wills, why do you think Ann wanted the will admitted to probate?2. What lessons does this case provide on the
Q: 1. What evidence was important for the court to have to conclude that Patricia Watson lacked capacity?2. Is a lack of capacity required for the
Q: Charles leased a house from Donald for four years. The rent agreed on was $850 per month. After two years, Charles assigned his rights under the
Q: During the remodeling of an apartment building, tenants had so much dust from the construction settle in their apartment that they experienced damage
Q: Sue A. Merrill injured her right shoulder when she fell as she was ascending the front steps leading to the porch and front door of the mobile home
Q: Rod had a five-year lease in a building owned by Darwood and had agreed to pay $800 a month rent. After two years, Rod assigned his rights under the
Q: Johnny C. Carpenter and Harvey E. Hill died of asphyxiation when a fire broke out in their Hattiesburg, Mississippi, apartment on the morning of
Q: 1. List the three areas a court must review before imposing liability on a landlord for a criminal act by a third party on a tenant.2. What lessons
Q: 1. List the issues that mitigate the landlord’s liability even though there is a breach of the warranty of habitability.2. What lessons should
Q: 1. Why was it important to have landlord eviction rights in public housing regardless of the tenant’s knowledge?2. Why is drug dealing targeted by
Q: 1. Why is the ordinance not a violation of the First Amendment?2. What legitimate government interest(s) is/are satisfied with the prohibition on
Q: 1. Did Spur create a nuisance?2. Should it make any difference that Spur was there first?3. How does the court balance retirement communities and
Q: 1. Is habitat modification harming endangered species?2. Does the Court’s interpretation mean no intent is required to violate ESA?3. Did Congress
Q: 1. Where do you think the term “arranger” fits in the categories of those who are responsible for cleanup costs under CERCLA?2. What do you think
Q: O conveys property to A on December 1, 2015. O conveys the same property to B who does not know about A and who records his deed on December 2, 2015.
Q: What is the relationship between trespass and adverse possession?
Q: 1. What is different from this case and a case in which property is taken for a freeway?2. What is the concern of the dissent about the decision?3.
Q: 1. Explain the series of transactions in the same land.2. Discuss the effect of constructive notice on the court’s decision.3. What should buyers
Q: 1. What change does the court make in the duty classifications?2. What does the dissent say about duty in the case?3. What precautions would
Q: 1. List the fixtures and the court’s finding with each one and why.2. What factors does the court use in reaching its conclusions on the removed
Q: 1. Who owns the dominant easement estate?2. Who owns the servient easement estate?3. Explain the precedent on easement barriers and the court’s
Q: 1. Based on your sense of fair play and justice, does it sound “right” or sensible to think that one officer, while still employed by her
Q: 1. Is a director or officer of a corporation totally barred from pursuing corporate opportunities?2. What, if anything, is wrong with Telemachus
Q: 1. Did the court hold that the business judgment rule shielded the directors from personal liability in this case?2. Upon what facts did the court
Q: 1. Explain the business judgment rule.2. Did the court approve of CEO Eisner’s management practices?3. When it becomes evident to shareholders that
Q: 1. Give some examples of “turning points” or events when KPMG should have acted differently.2. Describe the level of accounting errors at Xerox
Q: 1. Describe the types of accounting irregularities that were going on at Papel.2. What is the significance of the term “engagement” in the
Q: 1. How much contact did Smith have with Dewar?2. Explain the options that Smith had when Beddall changed the address and forbade further
Q: 1. What breach of duty did Mr. Barker commit?2. How did the Sumralls establish that breach of duty and their damages?3. What lessons should
Q: 1. Identify and explain the two types of insider training liability under Rule 10b-5.2. Explain how O’Hagen violated Rule 10b-5.3. What is the
Q: 1. State the SEC’s theory of tippee liability. Would such a theory have an inhibiting influence on the role of market analysts?2. When is a tippee
Q: 1. Assess Matrixx’s position that reports of adverse events associated with a pharmaceutical company’s products cannot be “material,” absent
Q: 1. What was the legislative philosophy underlying the adoption of the extensive disclosure requirements of the 1934 act?2. What is the standard of
Q: 1. ETS argued that the arrangement involved commercial equipment leases, not securities. Did Congress intend to cover the leases under the securities
Q: 1. What is meant by the remedy of piercing the corporate veil?2. In the history of the doctrine, what terms have been used to capture the concept of
Q: 1. What is the purpose of Rule 23.1?2. Did the stockholder plaintiffs usurp the board’s right to manage the affairs of the corporation in this
Q: 1. What is the attorney-client privilege?2. Can a corporation protect its documents by asserting attorney-client privilege?3. What did the
Q: 1. What did the plaintiff contend?2. Can a shareholder who is also an officer and director of a corporation lawfully obtain a premium for selling
Q: The Community Youth Center (CYC) Corporation failed to pay its annual registration fee in 2000 and was automatically dissolved by the state
Q: 1. Summarize the facts of this case.2. State the applicable rule of law.The Orleans Parish School Board (“School Board”) in New Orleans,
Q: 1. Why were dissenters’ rights statutes enacted?2. What does “fair value” mean, and how is it determined?3. Do you believe that TFL’s expert
Q: 1. This contract was between friends. Do you think that Crozier expected that Sauers would be personally liable for repayment of the loan?2. Can
Q: 1. How did this case come to be heard before the state’s supreme court?2. What public policy reason(s), if any, exists to create separate standards
Q: 1. Did the LLC agreement incorporate a core element of the traditional fiduciary duty of loyalty?2. What is the purpose of the enforcement of a duty
Q: 1. Explain who Hansen is suing and why.2. The court refers to this case as one of first impression in South Carolina. It subsequently refers to the
Q: 1. What arguments can you present in defense of Della Ratta’s actions in this case?2. Maryland is an RUPA state. Explain the use of the terms
Q: 1. Did it make a difference in this case that the partnership was not in writing?2. What would Gelman argue was the particular undertaking to be
Q: 1. Why did his employer tell Rhodes that he was being terminated because of a RIF, and why did the supervisor Snyder place a memo in Rhodes’s file
Q: 1. Describe the formation of the joint venture between Drs. Kurwa and Kislinger.2. What is meant by the statement “Dr. Kislinger unilaterally
Q: 1. Which laws did the court consider in deciding this case? Is there a conflict between the laws?2. Was it critical to the court’s determination
Q: 1. Was Roberts an actual agent of McDonald’s Corporation?2. Did McDonald’s Corporation make objective manifestations leading Mr. Street to
Q: 1. Is it the law that individuals must be aware of their status as “partners” in order to have a legal partnership?2. In a footnote to the state
Q: 1. Explain “joint liability” and “joint and several” liability in the context of the facts of this case.2. Speculate on why PNC Bank was so
Q: 1. Did Johnson Controls’ “fetal-protection policy” discriminate against women?2. JCI’s policy was adopted only after eight employees became
Q: 1. Why are incontestability clauses placed in life insurance contracts?2. Do incontestability clauses work to the mutual advantage of the insurer and
Q: 1. What type of insurance policies did Royal Catering Co. purchase from American State Insurance Co. and Travelers Property Casualty Co.?2. After
Q: 1. Did the Lelands present sufficient evidence to support damages for mental anguish in this case?2. What purpose is served by the state statute that
Q: 1. Did Graves have an insurable interest in the life of Norred following the discontinuance of the partnership?2. Was Graves required to remit the
Q: 1. What is the key element to the court in protecting Bronk’s investments in the college plans?2. Why does the trustee lose the argument on
Q: On July 1, Roger Walsh, a sole proprietor operating a grocery, was involuntarily petitioned into bankruptcy by his creditors. At that time, and for
Q: 1. What was the timing issue with the lien on the Honda?2. Why does the court conclude that the lien is not a voidable preference?On July 3, 2013,
Q: 1. Explain what Gomery failed to disclose in his bankruptcy filings and why he filed for bankruptcy.2. List and discuss the reasons the court finds a
Q: 1. What was the basis for Koontz arguing that there was a breach of the peace?2. Did Chrysler have a right to repossess the car?3. What determines
Q: 1. How did Magish manage to get a clean title?2. Was this a sale in the ordinary course of business? Why or why not?3. What advice would you give to
Q: 1. What was odd about the Tolbert purchase of the Corvette?2. What is the impact of the court’s decision on Tolbert? Does he end up paying twice
Q: 1. What did the bank do to the debtor’s account?2. What would happen if banks were permitted to take proceeds deposited by creditors into their
Q: 1. Explain the mistakes Wells Fargo made in its financing statements.2. What does the court explain is the standard for determining whether a
Q: 1. If the coins are not classified as “goods,” what happens to the creditors’ rights?2. What is the standard for determining when coins are
Q: 1. What does the court find about bringing a series of documents together for purposes of creating a security agreement?2. What ultimately does the
Q: Alpha University has an arrangement with Axis Credit Card Company to collect 1 percent on all credit card charges made by students who obtain their
Q: List three areas in consumer credit cards affected by the CARD Act.
Q: 1. What could and should BGC do differently?2. What would be Smith’s damages in a case such as this?On September 11, 2012, Tony Smith (plaintiff)
Q: 1. What are the limitations of the studies on which Pfizer relied?2. Why are mouthwash and floss competitors?3. Describe the standards the court uses
Q: 1. Explain what happened to the Laughlins in the loan modification process.2. How does the loan modification fall under the consumer protection
Q: 1. Explain why the independence principle was critical in the decision in this case.2. What advice would you offer parties in terms of drafting a
Q: 1. What is the bank’s position of what the guarantors waived by their agreement with the bank to build out the project?2. What defenses does a
Q: 1. What was the agreement-to-pay relationship? Who was involved? Who was to be paid?2. Explain why Izmirlian ends up paying his ex-wife’s
Q: 1. Determine who is the drawee, the drawer, and the third party in the court’s discussion.2. What public policy issues is the court balancing?3.
Q: 1. What does this case teach you about the importance of the terms and handbook that banks give to their customers?2. What is the effect of the
Q: 1. When was there a dishonor of the check? What is the significance of that time?2. Why does the dissenting judge disagree with the majority’s
Q: 1. Why does holder-in-due-course status not afford State Bank protection?2. Does the phone call from State Bank to Chase about the check provide it
Q: 1. Why is the fake Rolex not an issue in determining HDC status?2. What is the dissent’s concern about the decision?On September 23, 2011, Houston
Q: 1. Why are there so many cases cited in which Triffin is a party?2. Why is it important to know whether JCNB is a holder in due course?3. What effect
Q: 1. Does suspicion cause a holder to lose holderin- due-course status?2. What is the impact of the phone call and verification being sought?Regent
Q: 1. What is different about this situation and the fictitious payee exception?2. Evaluate this statement, “UCC Article 3 does not provide protection
Q: 1. What is the difference between a drawer action against a bank and a payee action?2. Why is SBU liable when it did in fact deposit the checks?3.
Q: 1. What is the difference between a forged indorsement and a missing indorsement in terms of the liability of the parties?2. What advice would you
Q: 1. Why did Ring need to have the check delivered to the town within a certain time frame?2. Was the signature of the issuer enough for the transfer
Q: 1. If U.S. Bank was not the note holder, what would happen to the foreclosure/power of sale processes on the properties of those who are in
Q: A note from Mark Johnson with HealthCo International as payee for $28,979.15 included the following language: [p]ayable in _________, Successive
Q: Is the following instrument negotiable? I, Richard Bell, hereby promise to pay to the order of Lorry Motors Ten Thousand Dollars ($10,000) upon
Q: 1. What type of instrument was the check when Herrera found it?2. What type of instrument was the check when Herrera added his name to the “Pay
Q: 1. What was the problem with the words of negotiability?2. What was the difference for Whitaker and Fletcher if there was negotiability vs. not
Q: 1. Does “when you can” mean that the instrument is payable on demand?2. How does the requirement of looking at the debtor’s circumstances
Q: 1. The concept of imposing liability on the employer for the fault of an employee is known as vicarious liability. When may an employer be
Q: 1. What was the question before the Supreme Court?2. What was the objective of Congress in the enactment of Title VII?3. Would the Court order the

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