Business Law

  1. Name and fully explain the five elements of a legally binding contract.
    See textbook page 287
  2. Explain the legal concept of Quasi-contract and Quantum Meruit. Also identify and
    explain the four types of damages for contractual breach.
    See textbook page 294-296
  3. What is the Mailbox Rule? Provide an example of a business situation under which this rule may be important.
    See textbook page 326-327
  4. Explain the four elements of Promissory Estoppel.
    See textbook page 344-345
  5. A contract containing Genuine Assent must demonstrate five characteristics. Set forth and explain each of these five characteristics.
    See textbook beginning page 321
  6. What is a Fiduciary? Provide an example of a business situation where a Fiduciary relationship is important.
    See textbook beginning pages 356, 359
  7. To recover damages under a fraud claim for intentional misrepresentation, generally four elements must be demonstrated to the court. Name and explain each of these four elements. See textbook page 355-356
  8. What is the relevance of the Statue of Frauds requirements to contract Format? Identify six types of Contracts that are covered by the Statue of Frauds.
    See textbook page 39
  9. Explain what is meant by the legal term Assignment. In general, what rights may or may not be assigned? See textbook pages 310-311

Sample Solution

Business law

The Warren family signed an exclusive real estate listing agreement with Detlefsen real estate brokerage to sell their property. The agreement provided that the Warren’s were obligated to pay a commission of 5% of the sales price if they sell the property to any person during the term of the exclusive listing agreement. The term of the agreement was six months long running from January 1 of the year through June 30th. Detlefsen marketed the property and secured several offers with the highest offer being $700,000 from Ivy Jones which the Warren’s agreed to on May 30th of that year. This sales contract had a provision that in the event of default by the Warren’s Ivy Jones only recourse would be a refund of her $10,000 deposit. Subsequently, a friend of the Warren’s, Zaine Johnson a person unknown to Detlefsen, found out the Warrens were selling the property and offered to buy it for $800,000. The Warren’s thus, subsequently cancelled the sales contract to Ivy Jones and returned her $10,000. They then waited until July 1, after the term of their exclusive contract with Detlefsen had lapsed and signed a written agreement to see the property to Zaine Johnson. Does the Warren family owe any brokers fee to Detlefsen for the sale of the property? Why or why not? If a fee is owed what should it be based on the $700,000 sales price or the $800,000 sales price? Discuss.

Sample Solution

Business law

In 2000, Jack and his two adult sons, Jim and Joe, created a corporation, Jack & Sons, Inc, with each as a shareholder and director. During the first year or so they maintained corporate bank accounts, had the name printed on trucks and stationery and held annual stockholders’ and directors’ meetings. After Jack died, in 2005, Jim and Joe forgot about the corporation and failed to hold meetings or otherwise follow the corporate formalities. In 2007, Joe, working as an employee of Jack & Sons, Inc., was allegedly negligent in some electrical wiring he performed, which caused a disastrous fire at a local church, in which several people were injured. Can Jim and Joe be personally held liable to the injured parties or the church? Explain why or why not.

Sample Solution

Business law

You have been negotiating with a representative of a government in South America to sell them products for a new state building in the country’s capital. The negotiations are final and there is a fixed price and delivery date set. The representative of the government suggest to you that you prepare an invoice at twice the price negotiated. The government will pay the full price through a foreign bank and your firm will pay the representative the difference as a commission paid in US dollars into the representatives personal bank account in New York. He argues that this is customary business practice in his country. Should you make this payment? Does it matter that this payment is customary in his country? Is there any real victim in this case. Please discuss these.

Sample Solution

Business Law

Choose one or two areas of law from your book that we have covered in the course. YOU MAY NOT SELECT CRIMINAL LAW.
Prepare an overview of that area of law.
Explain contracts law.
Discuss a case or cases from that area of law within your paper to illustrate key areas of the law.

Sample Solution

Business law

Ted Brown and Jim Green have been discussing going into business together for several months, and they are
anxious to start that business before the end of this month. However, both Ted Brown and Jim Green each
have to be out of town for several weeks on other business, so Ted Brown has told his son, Theodore, who is
16, about the discussions with Jim Green and has appointed Theodore to complete negotiation of the final
details of the business. Jim Green has told his son James, who is 18 years old, about the discussions with Ted
Brown and appointed James to complete the negotiations.
The business that Ted Brown and Jim Green want to create will develop an app for cell phones that will identify
family-oriented attractions along major highways so families can download the app to help in planning family
vacations. The development of the app will take 4 months, and then it will take approximately another 4 months
to fully deploy the app. As the app becomes popular, the business will solicit family-oriented businesses to
advertise on the app. Ted Brown and Jim Green have very little capital to use in the development and
deployment of the app and will probably need to raise the capital necessary to develop and deploy a quality
app.
In your case study, address the questions below.
Can Theodore Brown and James Green legally create the business that Ted Brown and Jim Green have been
discussing? Why, or why not?
If Theodore and James do create the business, what duties do they each owe their father? Describe what
those duties mean in this case.
What factors do Ted Brown and Jim Green (or their sons on their behalf) need to consider in selecting a form
for this business?
What form of business will provide the most advantage for their venture?
What are the disadvantages of the form of business that they selected?

Sample Solution

Business Law

With reference to appropriate statutory and common law examples critically evaluate how company law has sought to protect against the abuse of limited liability.

word limit is 1500

please check the below link for a video, which explain the necessary cases that you need to talk about.

https://we.tl/t-UUcTgGdBIr

Sample Solution

Business law

Discuss the likely result of below lawsuit, be sure to discuss all of potential claims as well as each of potential defenses using definitions of the books and notes.
Define claims/issues and do with Ida format (identify the issues, define the rule of law and analyze the rules and application)
Jane, Sally and Marc, who have all been friends since high school, form a partnership called Living Easy to develop two apartment complexes in their home town. Because they have been friends for so long and trust each other, they do not enter into a written partnership agreement. Instead, they simply agree that they will equally share in the profits and losses of the partnership. Marc soon discovers that Jane and Sally are extremely capable and hard workers and begins cutting down the time that he devotes to the partnership. Soon, Marc is coming into the office only one day a week. He spends the other days at the country club. Marc brags at the country club what an accomplished apartment complex developer he is, and attracts the attention of two other country club members, Violet and Eddie, who also want to get into the business of developing apartment complexes. Marc convinces Violet and Eddie to hire him as a consultant, and Violet and Eddie agree to pay him $3,000/week for his consulting services, which money Marc keeps for himself. During the course of his consulting, Marc provides Violet and Eddie with plans for an apartment complex marked “SECRET” that were created by Living Easy, in order that Violet and Eddie can use them as a basis for their development. Eventually, at the urging of Violet and Eddie, Marc leaves Living Easy before the two apartment complexes have been completed and becomes partners with Violet and Eddie in developing apartment complexes that will directly compete with Living Easy.
Has Marc breached any fiduciary duties to Living Easy and Jane and Sally? Which ones? What specific facts support the breach of each duty that you identify?
Is Marc entitled to be paid for his partnership interest in Living Easy? If so, how will the buyout price for his interest be calculated? When is Marc entitled to receive payment?

Sample Solution

Business law

  1. Choose a story in the news about a criminal prosecution and discuss (i) if you think the accused received or
    is getting fair treatment by the news story, and (ii) if you think the accused received or is getting fair treatment
    by the Court (200-400 words).
  2. Choose a crime and describe a creative “disposition” or punishment that is not currently prescribed by law
    and that you think would help the community and the offender—something other than jail, community service,
    fine, or standard probation supervision—for example people convicted of Driving While Intoxicated (DWI) must
    attend a Victim Impact Panel where victims’ of DWI or their families give a presentation about how difficult their
    life has been because of their injury or death from a DWI (100-300 words).
  3. Choose any three (3) exercises in Chapter 6 on pp. 206, 215, 218, 221, 223, or 226, and write answers
    (100-250 words each).
  4. Choose either case at the end of Chapter 6, State v. Mills, starting on p. 226, or United States v. Parks
    starting on p. 228, and answer the Case Questions at the end of either case (100-200 words total for all
    questions).
  5. Choose two (2) of the following three (3) videos, and write a summary of the ideas presented as they relate
    to the study of Business Law (100-250 words each)
    (A) Michelle Alexander about her award-winning book, The New Jim Crow: https://www.youtube.com/watch?
    v=XnqjDVhjM0w
    (B) News interview about Bernie Madoff, https://www.youtube.com/watch?v=ZE2YokiW2J0
    (C) News coverage of Martha Stewart going to prison on insider-trading conviction:
    https://www.youtube.com/watch?v=0pX97oQrgBc

Sample Solution

Business Law

  1. Review the case entitled Alden v. Presley found on pages 198 and 199 in the textbook as Critical Legal Thinking Case 10.3. Using IRAC format, is Presley’s promise to pay the mortgage enforceable?
  2. Review the case entitled Schultz v. County of Contra Costa, California found on page 232 of the textbook as Critical Legal Thinking Case 12.1. Using IRAC format, can the contract be rescinded?

Sample Solution