Questions and Answers of Law business personal use

Thruster owns ID Data, Inc., a small company that manufactures facial recognition kits. The pocket size kits feature a button camera connected to a PDA. The camera automatically takes the facial
Chen wanted to order skis that she had seen advertised in a national magazine. The advertisement expressly said, “Do not send cash or personal checks. No COD orders accepted.” How could Chen pay?
Joseph McReynolds gave the following signed instrument to Helen Harrison after borrowing $5,000 from her: “IOU Helen Harrison $5,000.” It was dated and signed by McReynolds. Is the instrument
Survey the Federal Reserve Board explanations, charts, and aggregate data to form an opinion as to how important commercial paper is to the U.S. economy. Compose a paragraph summarizing your findings
Write a persuasive opening statement that emphasizes the legal, ethical, and economic points in favor of your petition. Or, write a persuasive opening statement for the bank that encompasses the
Would you rather hold a promissory note from a local retailer or a certificate of deposit from a local bank?
If a good customer comes into a bank and wants to stop payment on a cashier’s check she had purchased and had the bank issue, how could the bank protect itself in doing so?
What is the purpose of having the purchaser sign the traveler’s checks when buying them?
Would a check or other piece of commercial paper be legally effective if written in pencil?
What is the difference between a check and a draft?
Could you cash a check made out to you but written on an ordinary piece of paper?
Why was commercial paper created?
1. Why is the business plan so important for an entrepreneur?2. Why is the form of business ownership important to a lending institution?3. Why does a financial institution want to know the long-term
1. Interview a businessperson you admire who is in a position to set the ethical tone for his or her company.2. Before the interview, write a list of questions that concern the ethics of the company.
1. What legal means would you have suggested to Montoro to protect his investment?2. What practical means would you have suggested to Montoro to protect his investment?Sometimes, no matter how
Ramsey Homebuilders was a limited partnership that constructed residential properties in the state of Alabama. Ramsey was the general partner in the firm while two others were limited partners.
American National Insurance Co. had a foreclosure sale on a limited partnership’s property to recover an amount owed. The proceeds fell short by almost $1.5 million. To recover the shortfall,
Missouri, Inc. (Allright), a Missouri corporation, was a limited partner in Downtown Development Associates, Ltd. (Downtown). The limited partnership was formed to develop two city blocks located in
Ward Parkway was a wholly owned subsidiary of Kroh Brothers Development Company. Ward Parkway was also the general partner in West Tech, a limited partnership. Boatmen’s Bank made a $1.3 million
A limited partnership was formed to promote a boxing match between professional football player Lyle Alzado and an ex-boxing heavyweight champion, Muhummad Ali. The limited partner in the deal was to
Quiet Running, a closely held LLC, produces electric cars. It recently secured the rights to a patent that will allow it to produce such cars with a cruising range of nearly 500 miles. In order to
Three doctors were in a limited liability partnership with Dr. S. Kay Bell. The practice’s offices were in Dallas, Texas. During a minor plastic surgery, one of Dr. Bell’s partners severed an
Minnie Octaves, a well-known opera singer, was a limited partner in “Octaves and Clark, a limited partnership.” The Florida real estate development concern’s only project was the construction
West Virginia Tank and Tower Inc. (TnT) bought and sold used water towers. Metal Raincloud (Cloud) manufactured water towers. One of its suppliers, Gravity Flow Inc., an S corporation, developed and
The acceptance of the LLC business form by the IRS came after a power struggle between the states and the federal government. The federal government saw the potential for business growth in the new
Discuss the disadvantages that the S and LLC forms pose for Earl. Choose the form you think Earl should utilize and justify your choice in a short paper.
Suppose you and a friend decide to start a business writing and selling computer programs. Make a list of the pros and cons of each form of business organization you are considering.
For the business in exercise 13, make up an operating agreement covering each of the suggested areas mentioned on pages 515 and 516. Presume there are at least two members.Exercise 13What is the
Fill out an articles of organization form for an imaginary business or one that you are familiar with.
Why is the operating agreement so important for an LLC?
What is the financial effect for a business of organizing as an LLC?
Why is there a prohibition against ownership of a subchapter S corporation by another corporation?
What records are limited partnerships required by law to keep?
1. Are all professional sports subject to the antitrust laws?2. What was the effect of this ruling on the professional sport of basketball?Spencer Haywood was the ultimate American rags-to-riches
Two attorney-shareholders in Ched Realty sought to buy out the shares of two recently deceased shareholders in the company. The attorneys cited a clause in a shareholder agreement that allowed them
Years before lights were installed in Wrigley field in Chicago, Schlensky, a minority stockholder in the Chicago National League Ball Club (Inc.), owner of the Chicago Cubs, sued the corporation and
General Telephone Company of Florida owned more than 1 percent of the stock of Florida Telephone Corporation. General sought to examine the latter’s stock records in order to make a list of the
A group of shareholders of the Manganese Corporation of America sued the corporation and four officers who also were directors. The group of shareholders sought to recover damages for the corporation
Pillsbury believed U.S. involvement in the Vietnam War was wrong. He learned that Honeywell, Inc., had a large contract to produce antipersonnel fragmentation bombs and he became determined to stop
As the testing of its new anti-arthritis drug showing results that exceeded anyone’s expectations, JointEase Corporation bought back more than one third of its outstanding, publicly traded stock.
Charlene Bertram owned 98 percent of the stock of Traces of Beauty, Inc. The company had been founded in the 1920s by her maternal grandmother. The company had been run by professional managers after
In its press release, Able Products, a Virginia corporation, announced that it was forming a joint venture with Hyallah, Inc., a toy-making corporation chartered in South Korea. In the release,
Hull organized a corporation to manufacture antibiotics for cattle. She owned most of the capital stock. All went well until a faulty batch of the drugs caused the serious illness or death of more
a book on the development of the corporation, for example, Bruce Brown’s The History of the Corporation, in which he cites the Benedictine Order of the Catholic Church, founded circa 529 A.D., as
Write a letter to the editor of one of the Detroit papers discussing the business judgment rule and either supporting the prosecuting attorney’s filing of charges or arguing against the action.
Write an essay stating your opinion about whether it is ever appropriate for the courts to violate the business judgment rule and punish individual officers for their criminal actions on behalf of
Devise a better way than cumulative voting of ensuring minority opinions are represented on a corporate board. Write an outline that sums up your plan.
Why should preferred shareholders have priority over common shareholders in a corporate liquidation?
Must dividends be paid to preferred shareholders regardless of whether or not the corporation has made a profit? Why or why not?
Are preemptive rights more important in a small corporation or a large publicly held corporation? Why?
Why is it important to pay dividends in the first place?
To what other uses can profits be put instead of paying dividends?
1. How would you rule on the first issue, and why?2. If you rule that the property should remain in the partnership until the winding-up process is complete, how would you justify suing the
L.W. Clement and his brother Charles formed a partnership in the 1920s to run a plumbing business. The partnership lasted some 40 years. However Charles ultimately became suspicious of the way L.W.,
Cooper and Isaacs were partners in a business that sold and distributed janitorial supplies. Their written agreement provided that the partnership “shall continue until terminated by sale of
Gast brought suit for back wages against a partnership headed by general partner Petsinger. To improve his chances of recovering a court award, Gast maintained that the limited partners in the
On January 1 Vernon and Engel became partners in a food brokerage business. Later, they disagreed about the way profits were being divided and expenses were being paid. On August 1 they dissolved the
Lewis owned a vacant building. He persuaded Dinkelspeel to open and to conduct a business called The Buffet in the property. Together, they purchased furniture, fixtures, and merchandise. They agreed
Stanton and Tokun agree to work together as partners for a year. Both are experienced in treating wooden shingle and shake roofs to make them fire resistant and waterproof. Stanton puts up the
The written agreement of a professional partnership stated that, during the first year of operations, no partner could draw more than $300 earnings per week, and that no partner could take a
Jonnas and Schmidt entered into a partnership for five years to conduct a catering business. After two years, Schmidt’s husband’s employer offered him a promotion and transfer to corporate
At the end of the school year, you hire the best students to write comprehensive study guides for the classes they have just completed. Over the summer you then compile these guides, print them out,
Research and then write a onepage paper comparing the economic potential of the sole proprietorship to that of the partnership and corporation.
After experimental surgery saved his life, Bill filed suit against St. John’s. He then discovered that the emergency room was not run by the hospital but by a subcontractor, Emergency Physicians,
What protection can you design into your business form in exercise 17 for small investors that have no part in the management of the business?
Design a form of business organization that would be especially useful to a small business owner. What would be its attributes?
If you were a professional manager looking for a lifetime or even a long term position, under what terms would you consider a partnership or a sole proprietorship as a potential employer?
Why would someone want to be a limited partner?
What are the major problems with the sole proprietorship form?
1. Why is it important for a personnel director to be bilingual?2. How is training and development affected by a staff that speaks several languages?This event will assess interpretation of personnel
1. Obtain permission from your school administration to create and display posters that inform students about Homeland Security.2. Make a poster of the Homeland Security Advisory System to post in
1. Why did plaintiff Hendy oppose the motion on the grounds of fraud?2. Why did the plaintiff desire to allege the status of the team physician as being an independent contractor and not an employee
Barlow’s Inc. was an electrical and plumbing contractor. An OSHA inspector appeared at Barlow’s place of business and asked to inspect the premises. There had been no injuries at Barlow’s and
Eckis, age 22, was a full-time employee of Sea World, an amusement park. Eckis served as secretary for Burgess, the director of animal training. Eckis, who was an excellent swimmer, had worked as a
Bailey managed a gas station. He was required to use his station wagon to make emergency calls for the station. Tools were carried in the car, and the service station paid for the gas and oil it
Thornton was employed as production foreman with the defendant corporation. On several occasions, Thornton had reprimanded an employee, Sozio, for failure to wear safety glasses and had reported this
Abell and his brother had been hired as laborers to help prepare the grounds for the county fair. They were to be paid by the hour and were to furnish their own tools. No understanding was reached
Randle worked at the Hide Tanning Company, which employed only two people. The company did not carry workers’ compensation insurance because the state law did not apply to very small firms. A large
Fries, a farmer, received a notice from the manufacturer of a farm harvester that a cable on the machine was defective and likely to snap. Fries ignored the warning, and two weeks later the cable
Atlas Warehouse was equipped with an oldfashioned freight elevator that had a manually operated gate on each floor. When the elevator reached a floor, the employee had to raise the gate and then
Blake worked for West Oregon Lumber Company as a wood sorter. In violation of Oregon law, the company did not carry workers’ compensation insurance. While sorting wood on a table, Blake knocked a
Select a book advising small business owners about the finer points of the workers’ compensation system. Compare the advice it offers with “how to” books on filing workers’ compensation
Write a short paragraph supporting Joaquim’s ability to recover under the workers’ compensation system. Write another paragraph arguing that he does not have the right to recover under the system.
Write a short essay about your state’s workers’ compensation program. In the essay discuss the program’s evolution as well as compare the level of awards the program provides for various
Write one paragraph describing how the employer’s liability for negligence is determined. Write a second paragraph describing how an insurer’s liability under a workers’ compensation system is
Write a short paragraph describing the reasons why the creation of the workers’ compensation system was a good compromise for employers and employees.
Invent a situation where an employer would be able to escape liability in a negligence suit by an injured employee by asserting the defense of contributory negligence.
Describe the employer’s general duty under the Occupational Safety and Health Act.
Describe when an employee can maintain a negligence suit against an employer.
1. Research the success of Title IX in eliminating disparity in gender in collegiate sports programs.2. Should Title IX standards be applied to the areas of the hard sciences mentioned above. Why or
Describe how disparate treatment cases can still be proven even though there is no direct or indirect evidence.
Describe the elements of disparate impact and the way it is proven in court.
Describe the elements of disparate treatment and the main defenses utilized by those charged with it.
Explain the difference between legal and illegal discrimination.
1. Research and compare to MLB teams, team results in profitability, and-on-the-field success in the various other professional leagues.2. What bargaining positions and potential trade-offs would you
The Greenpark Nursing Home hired First National Maintenance to maintain its facilities. First National in turn hired employees to work for it on the premises of the nursing home. These employees of
Kuebler was a member in good standing of the lithographers union when it struck the Art Gravure Company. Several months after the strike began, Kuebler met in a non-secret meeting with 12 or 13 other
During a union-organizing campaign at Portage Plastics Company, some members began wearing union buttons on the job. Because a button fell into a grinder and caused loss of material and because of
Mary Weatherman was the personal secretary to the president of Hendricks County Rural Electric Membership Corporation. One of her friends at the firm was involved in an industrial accident that
The United Steelworkers of America, a national union, had a provision in its constitution that imposed requirements to be satisfied before a member could run for leadership positions in local

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