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business
essentials business law
Understanding Business And Personal Law, Student Edition (BROWN: UNDER BUS & PERS LAW) 1st Edition McGraw-Hill Education - Solutions
Cynthia gave Glen a signed note that read,“On May 20, 2004, I promise to pay Glen Fife one hundred dollars.” Is this a negotiable instrument? Why or why not?
John writes a check to Donna for $75 and, by mistake, omits the date. As a result of John’s error, Donna’s friend Linda claims that the check is not negotiable. Is Linda correct? Explain your answer.
Percy owns the Country Collectibles Shop, which specializes in buying and selling rare coins, stamps, comic books, gold and silver bars, and other collectors’ items. In exchange for a loan of $10,000, Percy gives Kimberly a signed promissory note that reads, “In 60 days, I promise to pay to the
If you were Carlos, what would you do now? Explain your answer.
Debate whether each flaw causes nonnegotiability in and of itself.
Is the check negotiable? Why or why not?
Rewrite the following passage from a certificate of deposit in words that a young teen can understand. Test it on several students in your school.“Except as otherwise provided herein, in the event of any withdrawal of principal from this account prior to a maturity date, the account holder shall
Where should a signature appear on an instrument?
Why is it a bad idea to write a written instrument in pencil?
How would a drawee indicate that he or she agrees to the draft?
Why do businesses and private parties opt to use drafts?
What does it mean to postdate a check?
Why do CDs pay higher interest than regular savings accounts?
Why do some people feel that it is safer to use negotiable instruments than cash?
What are the words of negotiability?
Explain the definite-time contract.
Explain the elements of negotiable instruments.
What is an acceptor?
Read your classmates’ comments and reflect on how you could improve your performance.
Have your classmates critique your performance.
Perform your skit in front of the class.
Act out the scenario.
With a partner, create a script in which you discuss negotiability with a banker. Use all of the terms listed above in your role-play.
When do words control figures, and what is the exception?
Explain why it is important to have a date on a negotiable instrument.
Explain the elements of negotiable instruments.
Define the parties to each kind of negotiable interest.
Name the two basic kinds of negotiable instruments.
Is it legal to postdate a check?
Is there a type of negotiable instrument that can be used to transfer debts?
What is the legal effect of a signature written at the beginning of an instrument instead of at the end?
Is an undated check valid and negotiable?
What sum controls on a check when the amount written in words is different from the amount written in figures?
Respond Why are bankruptcy laws necessary? Why do you believe that the bankruptcy laws in the United States do not include the possibility of incarceration in a debtor’s prison?
Question How does knowing about the credit protection laws make you a smarter consumer?
Connect Do you have a credit card? If so, what do you use it for? If not, when do you think you will get one, and what will you use it for?
Predict How would life in the United States be different if there were no credit?
Why bankruptcy is a last resort measure
How the credit protection laws work
How to recognize potential credit problems
How to use credit wisely
Truth in Lending Stewart and Marjory Selmans applied to the Manor Mortgage Company for a loan of $23,000 to be used for personal purposes. They were told that if they incorporated, they would be given a loan. Under Michigan law, money could be loaned to corporations at a higher rate of interest.
Discharging Loans Lisa and William Leeper filed a Chapter 13 bankruptcy petition. One of the debts they listed was an amount owed to attend college under a guaranteed student loan program. Will the loan to attend college be discharged by the court? Why or why not?Leeper v. Pennsylvania Higher
Ellen always pays her bills on time. Because of a computer error, however, she is given a poor credit rating. Several firms refuse to give her credit, citing her poor rating with the credit reporting agencies. Does Ellen have any legal recourse? Explain your answer.
Mary was recently married and goes to a bank to request a loan. The loan officer asks if she plans to have a child in the next few years. Mary refuses to answer and is denied the loan. Did the bank officer break the law? Explain your answer.
David’s wallet, which contained his credit card, is stolen. David does not notify the card issuer of the loss. The next month, he receives a $510 bill for an unauthorized purchase. Will he have to pay? If so, how much?
Mary and Frank are four months behind on the payments for their living room furniture. Two bill collectors come to their house and attempt to break in to repossess the furniture. Mary becomes quite angry and orders the bill collectors to leave her furniture alone. Is the finance company within its
Shirlene lost her job. She was unable to find work for several months and fell behind in paying her bills. A debt collector telephoned her at 11:45 P.M., used profanity, and threatened to “take care of her” if she didn’t pay the amount owed.Were Shirlene’s rights violated? Explain your
How can she prevent a problem like this in the future?
What other options does she have?
Should Margarita declare bankruptcy?
What educational materials are available about the wise use of credit?
What fees are charged for the services?
What services are offered?
Compare personal with business bankruptcy.
When extending credit, why do lenders sometimes require cosigners?
How must a creditor go about repossessing a debtor’s property?
Which debts can’t be discharged when someone declares bankruptcy?
Describe the purpose of the Fair Credit Reporting Act and the Fair Credit Billing Act.How do these acts protect consumers?
What is credit card blocking, and why is it used?
What should you do if you have a dispute with a credit card purchase?
Why should you shop around before borrowing money?
As a class, vote to select the best scenario. Ensure that the winning script correctly uses each of the key terms.
Present your scenario to the class.
Act out the scenario with your partner.
With a partner, create a script that highlights the duties between a lender and a credit applicant. Use all of the terms listed above.
How must repossession of a vehicle be conducted?
To what extent is a cardholder liable when a credit card is lost?
What is the meaning and purpose of APR?
What can you do if you buy something defective using a credit card?
Give an example of a situation wherein an employer may discriminate based on gender.
In what instances is an employer permitted to discriminate against employees based on gender?
Did it matter that Johnson Controls possessed good intentions when it implemented its fetal protection policy?
On what two federal acts did the Supreme Court base its decision that Johnson Controls’fetal protection policy constituted unlawful sexual discrimination?
What was the purpose of Johnson Controls’policy of excluding women from employment positions that would expose them to lead?
Are any duties implied, rather than expressed, in these agreements?If so, what are they?
How are the principal’s duties to the agent expressed?
How are the agent’s duties to the principal expressed?
Present your agreement and contract to the rest of your class. Explain how your agreement and contract fulfill your duties as an agent to the principal and how they fulfill the principal’s duties to you.
Write a contract between the athlete you represent and a corporate sponsor. (Corporate sponsors are businesses that pay celebrities to endorse their products.)
Based on Chapter 18 and your own research, write an agreement between yourself (as a sports agent) and a hypothetical professional athlete.
Write a brief report about being a sports agent.
Use the Internet and library to locate information about sports agents. Two helpful Web sites are www.prosports.com and www.sports-management.com.
Respond Are there any new workplace issues that employees face? Do you think the federal government will create a law to deal with the issues? Explain your answer.
Question Identify legislation and agencies that regulate an employer’s obligation to supply a safe and accessible workplace.Interview workers and employees affected by this legislation, and write a one-page report on your findings.
Connect What safety features are in place in your school to protect students from danger?
Predict Why do you think the government has created so much legislation to protect employees?
How can Harvey replace his social security card if he loses it?
Can you predict how much money Harvey will receive from social security when he retires?
What benefits does social security provide?
Who runs the Social Security Administration?
Employment Extensions As part of its retirement system, the state of Wyoming required state employees who were 65 years of age to apply for yearly extensions of their employment. Six state workers, Anderson, Bosshardt, Chessborough, Kuatholz, Nelson, and Ventling, filed a complaint with the EEOC.Do
Unemployment Benefits Pamela White was hired by Inside Radio/Radio Only, Inc. as a newsletter editor. The company told her she would occasionally have to work 10 extra hours per week. Several assistants quit, and White was forced to work more than 80 hours per week for four weeks. During that time,
Robert Patton works as an accountant. He has never received an unfavorable performance review. At age 55, Patton develops problems with his eyes that require him to use a special lamp and to take frequent breaks to prevent eye strain. Upon learning of the required changes, Patton’s supervisor
Franklin Vasquez wants to become a flight attendant. He is discouraged from applying by a supervisor, who tells him that the company only hires people who took home economics in high school or were members of Future Stewardesses of America. If Vasquez files a complaint with the Equal Employment
Jerry Figliano applies for a job as an armored-car driver. Because armored-car personnel carry firearms, Figliano is required to take a drug test. He refuses, arguing that the test violates his privacy rights. Is he correct? Explain your answer.
In January, Oxotech Petroleum hires Lydia Truell as a research scientist, at a salary of$65,000 per year. In March, Oxotech hires Gary Carr to do essentially the same job at a salary of $72,000. The two scientists have similar education and experience backgrounds, and they work side by side. Does
Wilma McAtee is CEO of Nortex International. Douglas Sweeney, a Nortex engineer, believes that several operations in the main plant are endangering workers. He files several internal complaints. When he gets nowhere, he files a complaint with OSHA. McAtee learns that Sweeney filed the complaint and
Is there anything you can do to prevent an injury?
If you know that the handrail is broken, do you have an obligation to be careful on the stairway? Who is responsible for safety in the workplace?
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