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business
essentials business law
Essentials of Business Law 10th edition Anthony Liuzzo - Solutions
Explain how title and certificate of title relate to ownership.
Study each of the following case carefully. Briefly state the principle of law and your decision.Dahl, the owner of a machine shop, agreed to manufacture 22 valves for $460 each for Capobianco. When six valves were finished and shipped, Capobianco advised Dahl of his intention to cancel the
Study each of the following case carefully. Briefly state the principle of law and your decision.Blackburn, a painting contractor, agreed in writing to paint DeSoto’s house for a certain price. After the house was painted, DeSoto asked Blackburn to paint his garage. Blackburn had other painting
Study each of the following case carefully. Briefly state the principle of law and your decision.Laclede Gas Company purchased propane gas from Amoco Oil Company and sold it to various residential subdivisions. After the contract had been in operation for some time, Amoco refused to supply any more
Study each of the following case. Answer the questions that follow with Yes or No.Chiu agreed to sell his custom-built sailboat to Graham for $60,000. Before delivery, Chiu received another offer for $68,000 and wrote to Graham that he had decided not to sell his boat after all.a. Can Graham obtain
Study each of the following case. Answer the questions that follow with Yes or No.Central City Garage Builders contracted with Morgan for the construction of a two-car garage and an attached greenhouse of similar size. The garage was built on schedule, but, because of a shortage of special
Study each of the following case. Answer the questions that follow with Yes or No.Central City Garage Builders contracted with Morgan for the construction of a two-car garage and an attached greenhouse of similar size. The garage was built on schedule, but, because of a shortage of special
Study each of the following case. Answer the questions that follow with Yes or No.Bushek signed a contract with Aluminum Window Products Company to replace the windows and wooden window frames of his house with new ones made of aluminum. The salesperson asked Bushek to sign a “routine form” to
To protect consumers against their own impulsiveness and various questionable sales techniques, a number of federal, state, and local laws and regulations allow consumers to terminate a contract under certain conditions. Is it ethical for a consumer to take advantage of this protection, when his or
Personal-Service Contracts Death or disabling illness of a party to a personal service contract requiring a special skill or talent terminates the contract. How would a concert promoter, who had sold tickets and rented a hall, protect against a loss that would likely result from the termination of
The law provides a remedy for a party injured by the breach of a contract. But the usual remedy, a lawsuit that awards money damages, does not always give the injured party the level of redress appropriate to the situation. What other remedies are available, and how effective are they?
Contract termination by performance seems so final. Do you think that the parties to a contract should be given an opportunity to change their minds if circumstances change after the required performance? Why or why not?
Explain how a contract might be terminated to protect a consumer.
Explain how a contract might be terminated by breach.
Provide an example of a contract terminated by impossibility of performance.
Explain how a contract is terminated by performance.
Discuss termination of a contract by agreement.
Using the Internet and search engines, investigate typical regulations or legislation that governs the assignment of certain contracts. What are some types of contracts typically controlled?
Study each of the following case. Answer the questions that follow with Yes or No.Rodrigos, the leader of a rock-and-roll group, agreed to provide music for the annual Park College Marketing Club dinner dance. On the night of the dinner dance, however, another, very amateurish group showed up and
Study each of the following case. Answer the questions that follow with Yes or No.Westerfield contracted with Bradley Building Company for the construction of a ranch house as a wedding gift for his daughter. Before construction began, Westerfield died and Bradley announced that he would not build
Study each of the following case. Answer the questions that follow with Yes or No.Beneficiary Benefits Becker, a college student, recognized that she was financially very dependent upon her widowed mother’s financial support while she was in college. To protect against the risk of financial loss
Study each of the following case. Answer the questions that follow with Yes or No.Chang, a florist, contracted with Torres to provide delivery services in the local community. Torres discovered that his vehicles did not have theequipment to handle the work well, so he asked Chang if another
Under the law, a bankrupt person is allowed to retain certain property—including his or her residence. Is it ethical for a bankrupt person to use the law to avoid payment on his or her legitimate debts and still retain some, often valuable, property?
What are some advantages of using a novation over a contract assignment?
Under what circumstances could the duties under a personal-service contract be delegated?
Should an incidental beneficiary to a contract have any legal recourse if the contract is terminated?
Do you think a third-party beneficiary should be required to sign a contract as one of the parties involved?
Describe the circumstances in which a court might assign rights or duties under a contract.
Identify the three kinds of contracts that cannot be assigned.
Distinguish between the assignment of rights and delegation of duties.
Study each of the following case. Answer the questions that follow with Yes or No.Safran, the owner of an automobile repair shop, placed an order for an engine diagnostic machine from the Mountain Range Equipment Company. The salesperson, Rubinstein, orally assured Safran that a number of test
Study each of the following case. Answer the questions that follow with Yes or No.Garcia, an independent computer consultant, was orally engaged by the Eastern Institute of Management, a publisher of management newsletters, to set up an office computer network that included needs assessment,
Study each of the following cases. Answer the questions that follow with Yes or No.Coursey orally agreed to sell three acres of land to Oulette for $8,000. After Oulette had paid the $8,000 and the transfer had been officially recorded, Coursey received an offer of $9,000 for the land from another
A person dies without leaving a will. The administrator of the estate refuses to pay the deceased’s debts on the grounds that there is no written evidence of the obligation. Comment on the ethics of this situation.
Why must a contract that obviously cannot be completed within one year be in writing?
A buyer places a deposit on an item valued at more than $500 but later wishes to cancel the order. Arguing that there is no written contract, could the buyer expect a refund of the deposit?
Under the Statute of Frauds, an oral promise to take on the debts of another is enforceable in some states. Can you think of any other activities that might be legally acceptable despite the fact that they are not in writing?
Even though the parol evidence rule prohibits any oral amendments to a contract, try to envision circumstances when this rule might be unreasonable.
Why does the Statute of Frauds apply only to executory contracts—that is, contracts that have yet to be performed?
Why do you think a prenuptial agreement dealing with the custody of children would not be enforceable?
In auction sales, how is the legal requirement for a written contract satisfied? What problems might arise from this arrangement?
What is the minimum dollar amount specified in the Uniform Commercial Code as a requirement for written contracts for the sale of personal property? Should this amount be greater?
Study each of the following case. Answer the questions that follow with Yes or No.Rogan, who had worked for eight years as an electrician’s helper, tried several times to pass the state-required electrician’s test, but he failed each time. Still, he felt that he knew enough about his trade that
Study each of the following case. Answer the questions that follow with Yes or No.Pickens was one of a group of four army veterans who met once a month to play poker. On one occasion, Pickens lost more than $1,000 and refused to pay, claiming that gambling debts are uncollectible. The winner
The Robinson-Patman Act prohibits price discrimination.What were the ethical reasons that motivated the passage of this federal statute?
Zoning regulations have the effect of restraining trade because they limit the activities of certain kinds of businesses. Explain how society benefits from such limitations.
Various federal and state laws are intended to encourage competition. Analyze and report on the benefits of competition to society
Enforcement of laws that are intended to protect the environment sometimes has unforeseen economic effects, such as plant closings and unemployment. How should society attempt to balance environmental and economic issues?
Most states require people engaged in certain professions or businesses to be licensed. How do licensing requirements protect the public?
How does society benefit from the actions of governments granting monopolies for such services as cellular telephone service, railroads, and so on?
Legislation intended to protect the natural environment can have unexpected consequences and may serve as a disincentive to business. Explain.
Why are contracts made with individuals who are required to be licensed, but are not, usually unenforceable?
Is an illegal agreement enforceable? Why or why not?
Provide an example of an agreement that has been made illegal by statute.
Explain the enforceability of divisible contracts in which some parts have a legal purpose while other parts have an illegal purpose.
Why are courts reluctant to rule on the adequacy of consideration?
Identify four kinds of agreements that lack consideration.
Describe the position generally held by the courts on the matter of adequacy of consideration.
Explain how forbearance can satisfy the requirements of consideration.
Study each of the following case. Answer the questions that follow with Yes or No.Jena, who had been declared mentally incompetent by the courts, purchased a high-powered sports car for $46,000. Because he made the purchase during a lucid interval, his condition was not evident to the seller. Jena
Study each of the following case. Answer the questions that follow with Yes or No.Voidable Contract Caroli, who was 17 years old, signed an agreement to buy a used computer from Egan for $150. While Caroli was on his way to pick up the equipment, Egan got an offer for $250 from someone else. When
Study each of the following case. Answer the questions that follow with Yes or No.Nguyen, who was 17 years old, purchased a used boat, agreeing to pay for it in monthly installments over a two-year period. During the next six months, she made 6 of the 24 payments she had agreed to make. The day
Is it fair and ethical for a minor to take advantage of the protection accorded by the law to breach a contract made with a person who believed the minor to have reached the age of majority?
Contracts of Persons Who Are Mentally Incompetent If a contract is made by a responsible adult who later becomes mentally incompetent, is the contract enforceable by either party?
The contracts of emancipated minors are usually considered legally binding. Give an example to illustrate why this is necessary.
Is it fair that minors’ contracts are voidable, whereas those of adults are legally binding?
The minimum age required under the law for obtaining a driver’s license is usually lower than the age for drinking or voting. What is the rationale for this?
Contracts made by persons who are mentally incompetent are generally voidable. Are there any exceptions? If yes, explain.
A 17-year-old dancer signed a contract for a season with a ballet company. After rehearsals and two performances, the dancer received a better offer from another company. Could she terminate the contract? Why or why not?
A minor purchased a desk, computer, and printer—all on sale. If the minor later attempted to purchase only the computer, the salesperson could legally refuse to limit the sale to the one item on the grounds of the buyer’s minority. In this example, what is the legal principle regarding partial
Discuss what is meant by “age of majority” and how it affects the legal status of minors entering into contracts.
In some contractual relationships, the bargaining power of one party gives him or her an unfair advantage when dealing with another who might lack the economic power or the education to enter into contracts on an equal footing. What has the law done in an attempt to level the playing field in such
Study each of the following case. Answer the questions that follow with Yes or No.Alfieri, a hunting enthusiast, frequently shot birds in his own and his neighbor’s backyard in violation of a city ordinance that prohibited guns being discharged within the city limits. The neighbor offered to pay
Study each of the following case. Answer the questions that follow with Yes or No.Helfrich, in a barroom brawl, broke Grady’s arm. Grady brought suit against Helfrich for damages. Before the case came to trial, Helfrich offered to give Grady a $500 note, payable in 30 days, as full settlement for
Study each of the following case. Answer the questions that follow with Yes or No.Duggan inherited some nondescript furniture, including an old desk that he sold to Andersen for $50. A short time later he learned that the desk was an antique worth about $500. Duggan brought suit to recover $450,
A Question of Ethics Agreements between parties of unequal bargaining power are known as contracts of adhesion. For example, an apartment house owner presented a tenant with a lease renewal that contained additional and burdensome provisions. The tenant, finding it difficult to move, was forced to
Valid consideration is not necessarily either the performance of an act or the payment of money. One party to a contract, for a variety of reasons, may wish to exchange his or her promise to pay money for a promise of inaction from the other party. Because promises of inaction are often difficult
The most common form of valid consideration is the promise of money by one party for the promise of an act by another. Why is a mere promise deemed adequate in the eyes of the law when consideration based on completed actions might result in fewer disputes?
Study each of the following case. Answer the questions that follow with Yes or No.Gallagher Restaurant Supply was in the business of leasing equipment to small restaurants. Quezada, the operator of a small diner, leased a coffeemaker from Gallagher. It was only after the contract had been signed
Study each of the following case. Answer the questions that follow with Yes or No.Gortino, while trying to sell his house to Gawlas, was asked if he had ever seen or suspected termites in the house. Gortino replied that he had not and that the house was sound. Several months after Gawlas had
Study each of the following case. Answer the questions that follow with Yes or No.Guss, a professor at a small college, offered to sell his five-yearold car to Kantrowitz, a student in one of his classes. The price Guss asked was well above market value. Kantrowitz accepted Guss’s offer without
Is the failure to disclose material facts or information to a prospective buyer fair and ethical?
What criteria should a court use in determining whether a contract is shockingly unjust or unfair and thus unconscionable?
Why does the law provide that a mistake must be mutual, and not unilateral, in order for a contract to be voidable?
How should a court decide whether a particular term in a contract is material?
Persuasive statements based on a salesperson’s opinion are referred to as puffing. Provide examples of typical sales situations in which puffing is used.
Explain the UCC provision relating to when a contract is unconscionable.
Using the Internet and search engines, locate web pages that offer goods and services for sale and that specify time periods during which such offers must be accepted.
Why are newspaper advertisements not considered valid offers?
Describe the circumstances under which silence on the part of an offeree will be a valid acceptance. Does this seem reasonable and fair?
Study each of the following case. Answer the questions that follow with Yes or No.Neto learned that Quan, his neighbor, intended to sell his powerboat. Neto texted Quan stating that he wanted to buy the boat and he would pay a “fair price.” A few days later, Quan sold the boat to someone else
Study each of the following case. Answer the questions that follow with Yes or No.Kallinteris opened a travel agency in her small town. She then received an e-mail message from a local office supply company with which she had no prior dealings wishing her luck with her new business and advising her
Study each of the following case. Answer the questions that follow with Yes or No.Redmond offered to sell Goosen her used car for $6,000. Goosen could not make up his mind and, finally, after five months, told Redmond that he would accept her offer.a. Goosen can accept Redmond’s offer even though
Explain the two requirements of a valid acceptance.
Explain the three requirements of a valid offer.
When a definite time for acceptance has not been set, when does the acceptance time terminate?
Under what circumstances might a specific time be crucial to a transaction that would justify limiting the time for an offer or acceptance?
What are some advantages of written offers and acceptances over spoken ones?
Provide an example of an agreement that would need to be in writing to be enforceable.
The law requires that the purpose of a contract must be legal. Provide an example of a contract that would not be enforceable because it lacks legality of purpose.
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