Business Law Joe entered into partnership with two others in the esta.pdf
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Business Law Joe entered into partnership with two others in the establishment of a real estate sales agency. The other two, Sam and Harry, had considerable experience in the real estate business but no money. Joe, on the other hand, had his own home and several significant assets, and although he didn't have any experience in the real estate business, his monetary contribution made him an equal partner with Sam and Harry. Unfortunately, Harry misused some trust funds that had come into his care as a result of business, investing it in the business of one of his sons rather than an interest-bearing account. The business of the son went sour and the money was lost. The client sued Harry, Sam, and Joe. a) Applying the relevant legal principles, identify and explain in details the type of partnership involved. Discuss the liabilities of Harry, Sam, and Joe based on the relevant legal principles. (5 marks) Amanda and Florence decided to form a partnership for selling gourmet picnic baskets. To raise sufficient capital, they convinced their mothers to invest $5000 each as limited partners. Amanda's mother was an experienced restaurateur and watched the business with great interest. On several occasions, she advised them on the business and contacted old business associates to buy surplus stock. She even filled in taking orders in the office when needed. A customer who was made ill by contaminated food from a tin can supplied in one basket sued. b) Applying the relevant legal principles, identify and explain in details the nature of the partnership as well as the liability, if any, of the mother(s) (5 marks) Note: Application means you have to identify the correct legal concept, define it, enumerate the elements (if any) and then apply it to the fact scenario before drawing conclusion..
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BUS 307 Final Project Guidelines and Rubric Overview .docx
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
Analyze issues of real and personal property as they pertain to business formation and management
Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeop.
BUS 307 Final Project Guidelines and Rubric Overview .docx
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
Analyze issues of real and personal property as they pertain to business formation and management
Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeop ...
BUS 307 Final Project Guidelines and Rubric Overview
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
• Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
• Analyze issues of real and personal property as they pertain to business formation and management
• Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
• Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
• Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopath ...
1 2BUS 307 Case Study 2 – Professional Memo.docx
1
2
BUS 307 Case Study 2 – Professional Memo
Jennifer Moore
Professor
BUS 307- Business Law II
November 27, 2022
BUS 307 Case Study 2 – Professional Memo
To:
Fred and Sally
From: Jennifer Moore
Date: November 27,2022
Subject:
Fred’s Miracle Cough Syrup
This memo's objective is to make you aware of any potential legal problems resulting from Jane's theft. I will also give you information on civil claims you might have, the various sorts of commercial bankruptcy lawsuits, and other legal options that could be used to prevent the bankruptcy of Fred's Miracle Cough Syrup.
Legal Defences
For a court to render a verdict, the defendant must have the opportunity to defend oneself against the civil allegations. Common law mandates that the person accused of a crime must present a defence in order to determine whether or not they should be found guilty of the crime. If there is no tangible proof confirming their guilt, the defendants must provide evidence to support their innocence or refute the accusations. In these instances, Jane used a fake check to settle her debts to Don. If Don receives the check, he may charge Fred and Sally of fraud. Since their document is fraudulent, Fred and Sally cannot compensate Don. Given that there is no connection between them, a strong defence against the allegation is likely.
In this instance, Jane is responsible for maintaining company documents. She has no part in business leadership, management, sales, processing, or delivery. Therefore, it is not her function and responsibility to make payments. Due to her lack of integrity and responsibility, she has compromised the organization's ideals by falsifying the check and acting above her authority. A violation of duty is a criminal offense. Consequently, the defendants may assert that Jane behaved as an individual and not as a corporation (Ambos, 2018). The check was meant just for buying of Fred Miracle syrups, but Jane wanted to use it to settle a few of her personal debt. There is no binding official document between Don and Fred. In the absence of an agreement between two parties, there is no contract. Fred and Sally thus are not accountable to Don. Given there was no contract, neither Sally nor Fred received any services from Don. Therefore demonstrating that Fred and Sally are not responsible for Don's civil lawsuits.
Jane was responsible for the gambling obligation, not Fred's business, because she was the one who obtained the service from Don's company. Don should therefore submit the complaint to Jane and not Fred and Sally. Jane also exceeded his authority, thus neither Fred nor Sally are responsible for her acts. Consequently, she should bear the loss as a result of her conduct. Fred and Sally will be victorious in their case since they are in no way responsible to Don (Ambos 2018).
Church
Offerings are contributions or donations made to the church. Therefore, the cheque with Fred and Sally's names th.
BUS 307 Case Study 2 Guidelines and Rubric For this cas.docx
BUS 307 Case Study 2 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications
Case Study 2
Fred’s Miracle Cough Syrup has hit the market and become a huge success with the burgeoning integrative medicine demographic. Per your advice, Fred has
patented his famous concoction and trademarked the Fred’s Miracle Cough Syrup name and logo. Demand is so high that Fred and Sally are working full-time on
the business. Their children, Sam and Lilly, and their respective spouses, Jane and Tim, have joined the company full-time as well. In fact, Fred and Sally have
made Sam and Lilly part owners of the business. Fred, Sam, and Tim handle the production, sales, and delivery. Sally and Lilly handle the majority of the
administrative and business management tasks, while Jane acts as the bookkeeper. Sally and Fred are the only authorized signatories on the corporate account.
Sally and Lilly have been hard at work securing a new production facility and distribution chain to accommodate an upcoming contract with a national chain.
After locating a large warehouse on several acres, Sally and Lilly approach their local credit union for a loan. The business has only one business credit card used
to purchase supplies for the production of Fred’s Miracle Cough Syrup, and there is a small mortgage outstanding on the family farm. Personal debts of the
individual family members consist of small credit-card balances for Fred, Sally, Sam, and Lilly as well as an auto loan on Sam’s van.
During the commercial loan accounting review process, Sally and Lilly discover that Jane has been siphoning off large amounts of corporate money and “cooking
the books” to hide her actions. Jane has written several checks from the corporate account and forged both Sally’s and Fred’s signatures. Jane has made out all
but one of the forged checks to Don, a local loan shark, in an effort to repay her gambling debts. The check Jane did not deliver to Don was made out to “Cash,”
which she slipped into the collection box at church in an effort to absolve her guilt. The embezzlement was so severe that the family fears that Fred’s Miracle
Cough Syrup is now on the brink of bankruptcy. Meanwhile, Sam’s refusal to enter into an exclusive distribution deal with the local drugstore has enraged Bob,
the owner. Bob has now reverse engineered Fred’s cough syrup recipe and has posted it online in an act of vengeance.
As Fred and Sally tearfully recount the events of the past month, you reassure them that you are on the case, and you begin to ponder the legal issues at hand.
Specifically, the following critical elements must ...
Exam Business Organizations 1. Sal is a shareholder in XY.docx
Exam: Business Organizations
1. Sal is a shareholder in XYZ Corporation. XYZ Corporation made defective products, and many individuals have filed
lawsuits due to the defects. As a shareholder, Sal may
A. be held personally liable only if the plaintiffs name Sal as a defendant.
B. not be held personally liable for the defects.
C. be held personally liable only if the corporation was aware of the defects.
D. be held personally liable for the defects.
2. Tom is president of Big Drug, Inc. Tom receives a phone call from a federal agency informing him that a new drug
owned by Big Drug will be approved for sale to the public. Tom knows that this drug will be very popular and will cause
a significant increase in the company's profits. Tom quickly purchases as much Big Drug stock as he can afford. Then,
when the federal agency formally announces approval of the drug, Big Drug stock triples in value, and Tom becomes
rich. Tom has violated the
A. fairness rule.
B. business judgment rule.
C. insider trading rule.
D. corporate opportunity doctrine.
3. Under the Revised Uniform Partnership Act,
A. partners are co-owners of partnership property.
B. partners don't have transferable economic interests.
C. partnership property is owned by the partnership.
D. the partnership is an aggregate rather than an entity in its own right.
4. Robert owns shares in Products, Inc., and suspects that Zach, one of the directors of the company, has been stealing
corporate assets. Robert complains to the corporation, but no action is taken. Robert should file a
A. derivative suit against Products, Inc., on his own behalf.
B. direct suit against Zach.
C. derivative suit against Zach on behalf of Products, Inc.
D. direct suit against Products, Inc.
5. Jennie owns shares in Superstore, Inc. A vote about whether Superstore should expand its operations to
China is coming up. Jennie thinks this is a good idea, but she doesn't own enough shares to control the outcome of the
vote. Jennie could increase the chance that the vote will go her way by
A. entering into a pooling agreement.
B. filing a derivative suit.
C. offering to give someone else a proxy.
D. making a shareholder proposal.
6. If a regulation affecting corporations is federal, the authority for that regulation likely derives from
A. the Commerce Clause.
B. police power.
C. the Supremacy Clause.
D. executive orders.
7. In a general partnership, management decisions are made by
A. majority vote, with partners votes weighted in proportion to the interest owned.
B. unanimous vote in all business decisions.
C. two-thirds votes of the partners.
D. majority vote, with each partner having an equal vote.
8. A shareholder's preemptive rights refers to a right to
A. purchase a proportionate share of every new share offering by the company.
B. share in any profits insiders made from insider trading.
C. preempt the board of director's ...
Recommended
BUS 307 Final Project Guidelines and Rubric Overview .docx
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
Analyze issues of real and personal property as they pertain to business formation and management
Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeop.
BUS 307 Final Project Guidelines and Rubric Overview .docx
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
Analyze issues of real and personal property as they pertain to business formation and management
Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeop ...
BUS 307 Final Project Guidelines and Rubric Overview
BUS 307 Final Project Guidelines and Rubric
Overview
Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful
navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to
successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry
regulations, as well as to effectively communicate issues and facts to peers and professionals.
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three
hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
• Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business
management
• Analyze issues of real and personal property as they pertain to business formation and management
• Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
• Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental
business operations
• Evaluate the impact of government regulation on business practices for strategic and compliance purposes
Prompt
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in
memo format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional memo for each,
appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your memos should illustrate
the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your
communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as
provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any
necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopath ...
1 2BUS 307 Case Study 2 – Professional Memo.docx
1
2
BUS 307 Case Study 2 – Professional Memo
Jennifer Moore
Professor
BUS 307- Business Law II
November 27, 2022
BUS 307 Case Study 2 – Professional Memo
To:
Fred and Sally
From: Jennifer Moore
Date: November 27,2022
Subject:
Fred’s Miracle Cough Syrup
This memo's objective is to make you aware of any potential legal problems resulting from Jane's theft. I will also give you information on civil claims you might have, the various sorts of commercial bankruptcy lawsuits, and other legal options that could be used to prevent the bankruptcy of Fred's Miracle Cough Syrup.
Legal Defences
For a court to render a verdict, the defendant must have the opportunity to defend oneself against the civil allegations. Common law mandates that the person accused of a crime must present a defence in order to determine whether or not they should be found guilty of the crime. If there is no tangible proof confirming their guilt, the defendants must provide evidence to support their innocence or refute the accusations. In these instances, Jane used a fake check to settle her debts to Don. If Don receives the check, he may charge Fred and Sally of fraud. Since their document is fraudulent, Fred and Sally cannot compensate Don. Given that there is no connection between them, a strong defence against the allegation is likely.
In this instance, Jane is responsible for maintaining company documents. She has no part in business leadership, management, sales, processing, or delivery. Therefore, it is not her function and responsibility to make payments. Due to her lack of integrity and responsibility, she has compromised the organization's ideals by falsifying the check and acting above her authority. A violation of duty is a criminal offense. Consequently, the defendants may assert that Jane behaved as an individual and not as a corporation (Ambos, 2018). The check was meant just for buying of Fred Miracle syrups, but Jane wanted to use it to settle a few of her personal debt. There is no binding official document between Don and Fred. In the absence of an agreement between two parties, there is no contract. Fred and Sally thus are not accountable to Don. Given there was no contract, neither Sally nor Fred received any services from Don. Therefore demonstrating that Fred and Sally are not responsible for Don's civil lawsuits.
Jane was responsible for the gambling obligation, not Fred's business, because she was the one who obtained the service from Don's company. Don should therefore submit the complaint to Jane and not Fred and Sally. Jane also exceeded his authority, thus neither Fred nor Sally are responsible for her acts. Consequently, she should bear the loss as a result of her conduct. Fred and Sally will be victorious in their case since they are in no way responsible to Don (Ambos 2018).
Church
Offerings are contributions or donations made to the church. Therefore, the cheque with Fred and Sally's names th.
BUS 307 Case Study 2 Guidelines and Rubric For this cas.docx
BUS 307 Case Study 2 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications
Case Study 2
Fred’s Miracle Cough Syrup has hit the market and become a huge success with the burgeoning integrative medicine demographic. Per your advice, Fred has
patented his famous concoction and trademarked the Fred’s Miracle Cough Syrup name and logo. Demand is so high that Fred and Sally are working full-time on
the business. Their children, Sam and Lilly, and their respective spouses, Jane and Tim, have joined the company full-time as well. In fact, Fred and Sally have
made Sam and Lilly part owners of the business. Fred, Sam, and Tim handle the production, sales, and delivery. Sally and Lilly handle the majority of the
administrative and business management tasks, while Jane acts as the bookkeeper. Sally and Fred are the only authorized signatories on the corporate account.
Sally and Lilly have been hard at work securing a new production facility and distribution chain to accommodate an upcoming contract with a national chain.
After locating a large warehouse on several acres, Sally and Lilly approach their local credit union for a loan. The business has only one business credit card used
to purchase supplies for the production of Fred’s Miracle Cough Syrup, and there is a small mortgage outstanding on the family farm. Personal debts of the
individual family members consist of small credit-card balances for Fred, Sally, Sam, and Lilly as well as an auto loan on Sam’s van.
During the commercial loan accounting review process, Sally and Lilly discover that Jane has been siphoning off large amounts of corporate money and “cooking
the books” to hide her actions. Jane has written several checks from the corporate account and forged both Sally’s and Fred’s signatures. Jane has made out all
but one of the forged checks to Don, a local loan shark, in an effort to repay her gambling debts. The check Jane did not deliver to Don was made out to “Cash,”
which she slipped into the collection box at church in an effort to absolve her guilt. The embezzlement was so severe that the family fears that Fred’s Miracle
Cough Syrup is now on the brink of bankruptcy. Meanwhile, Sam’s refusal to enter into an exclusive distribution deal with the local drugstore has enraged Bob,
the owner. Bob has now reverse engineered Fred’s cough syrup recipe and has posted it online in an act of vengeance.
As Fred and Sally tearfully recount the events of the past month, you reassure them that you are on the case, and you begin to ponder the legal issues at hand.
Specifically, the following critical elements must ...
Exam Business Organizations 1. Sal is a shareholder in XY.docx
Exam: Business Organizations
1. Sal is a shareholder in XYZ Corporation. XYZ Corporation made defective products, and many individuals have filed
lawsuits due to the defects. As a shareholder, Sal may
A. be held personally liable only if the plaintiffs name Sal as a defendant.
B. not be held personally liable for the defects.
C. be held personally liable only if the corporation was aware of the defects.
D. be held personally liable for the defects.
2. Tom is president of Big Drug, Inc. Tom receives a phone call from a federal agency informing him that a new drug
owned by Big Drug will be approved for sale to the public. Tom knows that this drug will be very popular and will cause
a significant increase in the company's profits. Tom quickly purchases as much Big Drug stock as he can afford. Then,
when the federal agency formally announces approval of the drug, Big Drug stock triples in value, and Tom becomes
rich. Tom has violated the
A. fairness rule.
B. business judgment rule.
C. insider trading rule.
D. corporate opportunity doctrine.
3. Under the Revised Uniform Partnership Act,
A. partners are co-owners of partnership property.
B. partners don't have transferable economic interests.
C. partnership property is owned by the partnership.
D. the partnership is an aggregate rather than an entity in its own right.
4. Robert owns shares in Products, Inc., and suspects that Zach, one of the directors of the company, has been stealing
corporate assets. Robert complains to the corporation, but no action is taken. Robert should file a
A. derivative suit against Products, Inc., on his own behalf.
B. direct suit against Zach.
C. derivative suit against Zach on behalf of Products, Inc.
D. direct suit against Products, Inc.
5. Jennie owns shares in Superstore, Inc. A vote about whether Superstore should expand its operations to
China is coming up. Jennie thinks this is a good idea, but she doesn't own enough shares to control the outcome of the
vote. Jennie could increase the chance that the vote will go her way by
A. entering into a pooling agreement.
B. filing a derivative suit.
C. offering to give someone else a proxy.
D. making a shareholder proposal.
6. If a regulation affecting corporations is federal, the authority for that regulation likely derives from
A. the Commerce Clause.
B. police power.
C. the Supremacy Clause.
D. executive orders.
7. In a general partnership, management decisions are made by
A. majority vote, with partners votes weighted in proportion to the interest owned.
B. unanimous vote in all business decisions.
C. two-thirds votes of the partners.
D. majority vote, with each partner having an equal vote.
8. A shareholder's preemptive rights refers to a right to
A. purchase a proportionate share of every new share offering by the company.
B. share in any profits insiders made from insider trading.
C. preempt the board of director's ...
Business Law Case Study
The business law case study help given to the students is basically goal-oriented course homework that help the students get familiar with a different facet of the business law like the contract, securities, corporation, antitrust, etc.
Website- https://myassignmenthelp.com/case-study/business-law-case-study.html
1. Discuss the advantages and disadvantages of alternative dispute.docx
1. Discuss the advantages and disadvantages of alternative dispute resolution compared to litigation. If you were entering into a business contract which would you prefer to see in the contract? Why?
2. Shoplifting is a very serious problem for retail store owners, with millions of dollars of merchandise stolen each year. Obviously, some shoplifters put clothing and other items under their clothes and then attempt to leave the store. Video cameras in every bathroom and dressing room would undoubtedly reduce successful shoplifting. Using rights principles of ethics, what ethical issues are raised by such action?
3. Sally, 16 years old and unmarried, went to Hospital of the Good Shepherd with her mother. Unknown to her mother, Sally was pregnant and in labor. She was in extreme pain when she was admitted to the hospital and was told to just sign the medical treatment authorization form so she could be treated. Sally delivered a healthy baby, and both Sally and the baby were released the next day in good health. The hospital attempted to collect their bill from Sally’s insurance carrier but it only paid a portion of the costs. The hospital then sued Sally for the balance. Is Sally liable for the balance of the medical bill? Is Sally’s mother responsible?
4. In many other countries, contracts aren’t as strictly construed and don’t contain all of the terms of an agreement as they do in the United States. Often, business people from other countries complain that U.S. contracts are viewed too formally. Generally, contract law in the U.S. requires all parties to a contract to continue to perform the contract even when conditions have changed and make it more difficult for one party to continue to perform. Do you believe contracts should be more flexible to allow for changes in the terms of the agreement when conditions change? Or, do you believe the terms of a contract should be viewed as an absolute irrespective of any change in conditions? Explain your answer. PF Blue + Charcoal PF Blue + White
5. John is in the process of buying a new house. He looks on the Internet for some furnishings he believes he will need for the house. He finds exactly what he is looking for on the shopforit.com website. The website even allows him to finance his purchase; all he has to do is to complete a short application and accept the terms of the financing by clicking on the “I Accept” button. John is so excited about finding what he is looking for that he quickly fills out the application and, without reading the financing terms, he clicks on the “I Accept” button. Two weeks later, John is in a store looking for other items for his home and he finds exactly the same thing that he had previously purchased but for less money and with much better financing terms. John e-mails shopforit.com and tells them he wants to cancel his purchase. Can John cancel his purchase with shopforit.com? Explain.
6. Penny, a senior vice president at Wholesale Foods LLC, sends a co ...
BUS 307 Case Study 1 Guidelines and Rubric For this cas
BUS 307 Case Study 1 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopathic, one of the key ingredients causes a severe reaction when taken in conjunction with aspirin.
Fred plans to make and bottle his cough syrup in an outbuilding on the family farm. His son, Sam, has been raving to the locals about his father’s cough syrup for
years, and the local drug store and grocer have contacted Fred to place orders as a result. Sam also intends to approach several national chains in an effort to
secure supply contracts for Fred’s cough syrup. Fred has asked Sam to assist him with deliveries, as Sam has a van. Fred would like Sam to be involved with the
business as an employee initially, with the option of making him a partial owner at a later time. Fred and his wife Sally have two children, Sam and Lilly. Both live
in cabins on the family farm with their spouses and children. Fred and Sally engage you as their attorney to assist with the formation of the new business,
including determining the appropriate business entity type, management issues, product liability issues, and estate planning for both the business and family
property. After your initial meeting, you identify and research the following issues.
Specifically, the following critical elements must be addressed:
I. Describe the main types of business entities and their defining characteristics.
II. Apply product liability law and determine what issues are present. How would you advise your client to mitigate those issues?
III. Apply the elements and characteristics of an agency relationship to Sam’s actions. Does Sam’s involvement prior to the business formation, as well as his
anticipated role once the business is formed, create an agency relationship? Why or why not?
IV. Identify potential real property issues based on the location of the business on the family farm. Justify each potential issue.
V. Does the manufacture of Fred’s Miracle Cough Syrup on the family farm necessitate a formal transfer of ownership or possessory rights? Defend your
response.
VI. Identify potential personal property issues based on the use of Sam’s personal vehicle to deliver the product. Justify each potential issue.
VII. Does the use of Sam’s personal vehicle in the course of business expose Sam or the business to any liability issues? Defend your response.
VIII. Identify potential estate ...
BUS 307 Case Study 1 Guidelines and Rubric For this cas.docx
BUS 307 Case Study 1 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopathic, one of the key ingredients causes a severe reaction when taken in conjunction with aspirin.
Fred plans to make and bottle his cough syrup in an outbuilding on the family farm. His son, Sam, has been raving to the locals about his father’s cough syrup for
years, and the local drug store and grocer have contacted Fred to place orders as a result. Sam also intends to approach several national chains in an effort to
secure supply contracts for Fred’s cough syrup. Fred has asked Sam to assist him with deliveries, as Sam has a van. Fred would like Sam to be involved with the
business as an employee initially, with the option of making him a partial owner at a later time. Fred and his wife Sally have two children, Sam and Lilly. Both live
in cabins on the family farm with their spouses and children. Fred and Sally engage you as their attorney to assist with the formation of the new business,
including determining the appropriate business entity type, management issues, product liability issues, and estate planning for both the business and family
property. After your initial meeting, you identify and research the following issues.
Specifically, the following critical elements must be addressed:
I. Describe the main types of business entities and their defining characteristics.
II. Apply product liability law and determine what issues are present. How would you advise your client to mitigate those issues?
III. Apply the elements and characteristics of an agency relationship to Sam’s actions. Does Sam’s involvement prior to the business formation, as well as his
anticipated role once the business is formed, create an agency relationship? Why or why not?
IV. Identify potential real property issues based on the location of the business on the family farm. Justify each potential issue.
V. Does the manufacture of Fred’s Miracle Cough Syrup on the family farm necessitate a formal transfer of ownership or possessory rights? Defend your
response.
VI. Identify potential personal property issues based on the use of Sam’s personal vehicle to deliver the product. Justify each potential issue.
VII. Does the use of Sam’s personal vehicle in the course of business expose Sam or the business to any liability issues? Defend your response.
VIII. Identify potential estate .
Law and ethics 4 contractual capacity, consideration and contents
Law and ethics 4 contractual capacity, consideration and contents
1. Taylor serves on the board of directors for Cabby Company. Taylor.pdf
1. Taylor serves on the board of directors for Cabby Company. Taylor owns a lot of vacant land,
which she tried to sell unsuccessfully for two years. Taylor convinced the board of directors to
purchase 1,000 acres of her land for a price well over what the land is worth. This action may
violate the __________ rule.
A. business judgment B. insider trading C. fairness D. actual authority
2. Which of the following types of company offers protection for personal liability?
A. General partnership B. Term partnership C. Limited liability partnership D. Sole
proprietorship
3. An advantage of an S corporation is that shareholders can avoid
A. bylaws. B. double taxation. C. insider trading. D. estoppel.
4. Ken is the president of a large energy company. Company executives approached Ken about
purchasing some smaller companies to expand the business. Ken read the reports explaining the
potential risk and return of the investment, and he decided the purchase appeared to be a good
investment. Unfortunately, Ken was wrong, and the purchase caused the company to lose
millions of dollars. Based on these facts, Ken
A. should benefit from the business judgment rule. B. violated his duty of due diligence to the
corporation. C. should benefit from the fairness rule. D. violated his duty of loyalty to the
corporation.
5. Herbie owns a pizza parlor in New York. Herbie didn\'t file any documents to create the
business entity, he makes all the business decisions, and he retains all profit after overhead is
paid. Herbie owns a
A. sole proprietorship. B. corporation C. partnership. D. limited liability company.
6. Jennie owns shares in Superstore, Inc. A vote about whether Superstore should expand its
operations to China is coming up. Jennie thinks this is a good idea, but she doesn\'t own enough
shares to control the outcome of the vote. Jennie could increase the chance that the vote will go
her way by
A. entering into a pooling agreement. B. making a shareholder proposal. C. offering to give
someone else a proxy. D. filing a derivative suit.
7. The difference between a limited partnership and a registered limited liability partnership
(RLLP) is that
A. all partners have limited liability in a limited partnership, but not in an RLLP. B. an RLLP can
have secret partners, while a limited partnership can\'t. C. a limited partnership can have secret
partners, while an RLLP can\'t. D. all partners have limited liability in an RLLP, but not in a
limited partnership.
8. Robert owns shares in Products, Inc., and suspects that Zach, one of the directors of the
company, has been stealing corporate assets. Robert complains to the corporation, but no action
is taken. Robert should file a
A. direct suit against Products, Inc. B. direct suit against Zach. C. derivative suit against
Products, Inc., on his own behalf. D. derivative suit against Zach on behalf of Products, Inc.
9. Steve decides to incorporate his business, but he thinks it\'s too expensive to hire an attorney
to adv.
BUS 307 Case Study 2 Guidelines and Rubric For this .docx
BUS 307 Case Study 2 Guidelines and Rubric
For this Case Study, craft a professional email, appropriate in format, tone, and content, to send to your clients, Fred and Sally, with your preliminary thoughts
on the issues within. Your emails should illustrate the issues, relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 2
Fred’s Miracle Cough Syrup has hit the market and become a huge success with the burgeoning integrative medicine demographic. Per your advice, Fred has
patented his famous concoction and trademarked the Fred’s Miracle Cough Syrup name and logo. Demand is so high that Fred and Sally are working full-time on
the business. Their children, Sam and Lilly, and their respective spouses, Jane and Tim, have joined the company full-time as well. In fact, Fred and Sally have
made Sam and Lilly part owners of the business. Fred, Sam, and Tim handle the production, sales, and delivery. Sally and Lilly handle the majority of the
administrative and business management tasks, while Jane acts as the bookkeeper. Sally and Fred are the only authorized signatories on the corporate account.
Sally and Lilly have been hard at work securing a new production facility and distribution chain to accommodate an upcoming contract with a national chain.
After locating a large warehouse on several acres, Sally and Lilly approach their local credit union for a loan. The business has only one business credit card used
to purchase supplies for the production of Fred’s Miracle Cough Syrup, and there is a small mortgage outstanding on the family farm. Personal debts of the
individual family members consist of small credit-card balances for Fred, Sally, Sam, and Lilly as well as an auto loan on Sam’s van.
During the commercial loan accounting review process, Sally and Lilly discover that Jane has been siphoning off large amounts of corporate money and “cooking
the books” to hide her actions. Jane has written several checks from the corporate account and forged both Sally’s and Fred’s signatures. Jane has made out all
but one of the forged checks to Don, a local loan shark, in an effort to repay her gambling debts. The check Jane did not deliver to Don was made out to “Cash,”
which she slipped into the collection box at church in an effort to absolve her guilt. The embezzlement was so severe that the family fears that Fred’s Miracle
Cough Syrup is now on the brink of bankruptcy. Meanwhile, Sam’s refusal to enter into an exclusive distribution deal with the local drugstore has enraged Bob,
the owner. Bob has now reverse engineered Fred’s cough syrup recipe and has posted it online in an act of vengeance.
As Fred and Sally tearfully recount the events of the past month, you reassure them that you are on the case, and you begin to ponder the legal issues at hand.
Specifically, the following critical elements ...
[PMC, Inc. v. Saban Entertainment, Inc. (1996) 45 CA4th 579, 52 CR.docx
[PMC, Inc. v. Saban Entertainment, Inc. (1996) 45 CA4th 579, 52 CR2d 877]
Lacoff v. Buena Vista Publishing, Inc., (2000) 705 NYS2d 183
[Essex Group, Inc. v. Southwire Co., 501 S.E.2d 501 (Sup. Ct., Ga., 1998)]
Hollinger v. Sifers, --- S.W.2d --- (2003 WL 22997218, Ct. App., Mo., 2003)
[Cordas v. Peerless Transportation Co., (1941) 27 N.Y.S. 2d 198]
Running head: LEGAL ENVIRONMENT FOR BUSINESS 1
LEGAL ENVIRONMENT FOR BUSINESS 7
Legal environment for Business:
Student’s Name:
Institutional Affiliation:
Case Analysis
Case, 1
Title: Roy Vs Melissa
The Facts of the case: The parties involved in this case include Melissa, Roy and Jake. Melissa is the owner of the copyright covering the sale and distribution of dolls. Roy is the initial client that Melissa intends to sell the copyright to but they do not sign an agreement with Melissa to imply that he has purchased the copyright. On the other hand, Jake is also an interested party in buying Melissa’s patent and convinces her to sign a formal agreement granting him the exclusive rights. The three parties’ dispute over who is the right owner of the copyright.
Proceedings Below: The lower courts may have incorporated the fact that Jake acquired the copyright maliciously and so ruled in favor of Roy. Conversely, Roy will lose his rights over the patent since there are no legal statements confirming that he received the copyright from Melissa.
The Question before the court: The question before the court is whether the law permits copyright transfers without any legally binding agreement. In this case, the specific legal question is what the law considers as the legal procedure for the reassignment of copyrights. Therefore, Roy must understand that a convention does not exist simply because there is a concurrence between him and Melissa. Additionally, such a contract for the sale of copyright must have a requirement of writing and must be signed by both parties for it to be legally binding. Conversely, it is important to realize that in the situation of Melissa and Roy, there was an element of offer and acceptance.
Holding: The rule that applies to the issues in this case is the components of a valid contract. As such, a legitimate agreement must be signed and at least must be witnessed by a third party in order to be legally binding.
Reasoning: The law requires that people analyze the contents and the obligations that makes the transfer of ownership lawful before getting into a contract. As such, it was Roy’s duty to ensure that he gets to sign an agreement showing that the copyright has legally been transferred to him. Further, entering into a contract by a word of mouth presents loop holes for the provider of the proposal to practice deception.
Concurrence: From the foregoing, Roy loses the copyright title to Jake. Consequently, Roy must understan.
Which of the following is an expected side effect of sunitinib -A Peri.pdf
Which of the following is an expected side effect of sunitinib ?
A Peripheral vascular disease
B Left ventricular dysfunction
C Gastrointestinal perforation
D Peripheral Neuropathy
A Peripheral vascular disease
B Left ventricular dysfunction
C Gastrointestinal perforation
D Peripheral Neuropathy.
What evidence do the authors provide that indicates a decrease in the.pdf
What evidence do the authors provide that indicates a decrease in the ROS helper function of
Alteromonas under elevated CO2? Provide one piece of evidence from sequence data and one
not from the sequence data. For reach example provide the Table or Figure number in
parentheses after you discuss.
The classification of research can be based on various factors such as.pdf
The classification of research can be based on various factors such as the technique, reason,
accessibility of time and other assets, capacity, type of investigation, and statistical substance.
Various forms of research include basic research, applied research, descriptive research, causal
research, conceptual research, empirical research, qualitative research, quantitative research, and
other types of research also. a) Briefly explain the fundamental processes involved in a research
process. b) How does literature review help a researcher in conducting good research? What are
the various sources for literature review? c) What is the purpose of conducting experimental
research? enumerate the principles of experimental research design..
Two friends (one of them is not Kim Carpendale) are roling a die- Out.pdf
Two friends (one of them is not Kim Carpendale) are roling a die. Out of eight rolls mede, a 4
came up 7 times. Alicia Gorgerat predicts the probability on the next rol will Ikely be 4 1 based
upon the data from the last eight rolls Was her decision based on theoretical probability,
experimental probability, or on her own subjective judgment? Thesertical Probability
Fitperimental Probabiliky Subjoctive dederincat Stupidity.
The four columns in this diagram represent fossil-bearing sedimentary.pdf
The four columns in this diagram represent fossil-bearing sedimentary rock layers at four
different sites. The sedimentary layers are continuous except at the zigzag lines, which represent
unconformities. Compare the sites to determine the relative ages of the fossils from The four
columns in this diagram represent fossil-bearing sedimentary rock layers at four different sites.
The sedimentary layers are continuous except at the zigzag lines, which represent
unconformities. Compare the sites to determine the relative ages of the fossils from youngest to
oldest..
The country of Tenomia includes an adult population of 450-000 people-.pdf
The country of Tenomia includes an adult population of 450,000 people. Of those. 245.000 are
working fulh bine amd andther 70,000 work part-time. If there are 120,000 people either retired
or not in the labor foree, what is the unemploymunt ratut (enter $ number only).
Question 5 A research team conducted a survey about job satisfaction i (1).pdf
Question 5 A research team conducted a survey about job satisfaction in four major cities in
2020. The table below is the outcome of the survev. 1. What is the probability that people in the
survey are satisfied their jobs? 2. What is the probability of job satisfaction by the city? What
city has the lowest job satisfaction?.
Problem 2 The mean-reverting Ornstein-Uhlenbeck process is the solutio.pdf
Problem 2 The mean-reverting Ornstein-Uhlenbeck process is the solution X ( t ) of the
stochastic differential equation d X ( t ) = ( m X ( t )) d t + d B ( t ) , X ( 0 ) = x , where x , m ,
are real constants. (i) Solve this equation. (ii) Find E X ( t ) and var ( X ( t )) ..
Please help to code this using R In the 1970 s- a study was conducted.pdf
Please help to code this using R
In the 1970 s, a study was conducted to determine the effect of ethnic background on role
attitude of women of ages 15-64 in Rhode Island, USA. Respondents were asked whether they
thought it was all right for a woman to have a job instead of taking care of the house and children
while her husband worked. The following table breaks down the responses by ethnic origin of
the respondent. Modified from Dawdall, J. A. (1974). Women'm attituden toward nmployment
and family rolew. Boe. Anal., 35, 251-262. - Is there a relationship between the 'role attitude'
response and ethnic group? Test the hypothesis that the two variables are independent at = 0.01 .
(3) - Provide a graphical representation that describes the relationship?.
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Business Law Case Study
The business law case study help given to the students is basically goal-oriented course homework that help the students get familiar with a different facet of the business law like the contract, securities, corporation, antitrust, etc.
Website- https://myassignmenthelp.com/case-study/business-law-case-study.html
1. Discuss the advantages and disadvantages of alternative dispute.docx
1. Discuss the advantages and disadvantages of alternative dispute resolution compared to litigation. If you were entering into a business contract which would you prefer to see in the contract? Why?
2. Shoplifting is a very serious problem for retail store owners, with millions of dollars of merchandise stolen each year. Obviously, some shoplifters put clothing and other items under their clothes and then attempt to leave the store. Video cameras in every bathroom and dressing room would undoubtedly reduce successful shoplifting. Using rights principles of ethics, what ethical issues are raised by such action?
3. Sally, 16 years old and unmarried, went to Hospital of the Good Shepherd with her mother. Unknown to her mother, Sally was pregnant and in labor. She was in extreme pain when she was admitted to the hospital and was told to just sign the medical treatment authorization form so she could be treated. Sally delivered a healthy baby, and both Sally and the baby were released the next day in good health. The hospital attempted to collect their bill from Sally’s insurance carrier but it only paid a portion of the costs. The hospital then sued Sally for the balance. Is Sally liable for the balance of the medical bill? Is Sally’s mother responsible?
4. In many other countries, contracts aren’t as strictly construed and don’t contain all of the terms of an agreement as they do in the United States. Often, business people from other countries complain that U.S. contracts are viewed too formally. Generally, contract law in the U.S. requires all parties to a contract to continue to perform the contract even when conditions have changed and make it more difficult for one party to continue to perform. Do you believe contracts should be more flexible to allow for changes in the terms of the agreement when conditions change? Or, do you believe the terms of a contract should be viewed as an absolute irrespective of any change in conditions? Explain your answer. PF Blue + Charcoal PF Blue + White
5. John is in the process of buying a new house. He looks on the Internet for some furnishings he believes he will need for the house. He finds exactly what he is looking for on the shopforit.com website. The website even allows him to finance his purchase; all he has to do is to complete a short application and accept the terms of the financing by clicking on the “I Accept” button. John is so excited about finding what he is looking for that he quickly fills out the application and, without reading the financing terms, he clicks on the “I Accept” button. Two weeks later, John is in a store looking for other items for his home and he finds exactly the same thing that he had previously purchased but for less money and with much better financing terms. John e-mails shopforit.com and tells them he wants to cancel his purchase. Can John cancel his purchase with shopforit.com? Explain.
6. Penny, a senior vice president at Wholesale Foods LLC, sends a co ...
BUS 307 Case Study 1 Guidelines and Rubric For this cas
BUS 307 Case Study 1 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopathic, one of the key ingredients causes a severe reaction when taken in conjunction with aspirin.
Fred plans to make and bottle his cough syrup in an outbuilding on the family farm. His son, Sam, has been raving to the locals about his father’s cough syrup for
years, and the local drug store and grocer have contacted Fred to place orders as a result. Sam also intends to approach several national chains in an effort to
secure supply contracts for Fred’s cough syrup. Fred has asked Sam to assist him with deliveries, as Sam has a van. Fred would like Sam to be involved with the
business as an employee initially, with the option of making him a partial owner at a later time. Fred and his wife Sally have two children, Sam and Lilly. Both live
in cabins on the family farm with their spouses and children. Fred and Sally engage you as their attorney to assist with the formation of the new business,
including determining the appropriate business entity type, management issues, product liability issues, and estate planning for both the business and family
property. After your initial meeting, you identify and research the following issues.
Specifically, the following critical elements must be addressed:
I. Describe the main types of business entities and their defining characteristics.
II. Apply product liability law and determine what issues are present. How would you advise your client to mitigate those issues?
III. Apply the elements and characteristics of an agency relationship to Sam’s actions. Does Sam’s involvement prior to the business formation, as well as his
anticipated role once the business is formed, create an agency relationship? Why or why not?
IV. Identify potential real property issues based on the location of the business on the family farm. Justify each potential issue.
V. Does the manufacture of Fred’s Miracle Cough Syrup on the family farm necessitate a formal transfer of ownership or possessory rights? Defend your
response.
VI. Identify potential personal property issues based on the use of Sam’s personal vehicle to deliver the product. Justify each potential issue.
VII. Does the use of Sam’s personal vehicle in the course of business expose Sam or the business to any liability issues? Defend your response.
VIII. Identify potential estate ...
BUS 307 Case Study 1 Guidelines and Rubric For this cas.docx
BUS 307 Case Study 1 Guidelines and Rubric
For this case study, craft a professional memo, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on
the issues within. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as
“Fred’s Miracle Cough Syrup.” While his cough syrup is homeopathic, one of the key ingredients causes a severe reaction when taken in conjunction with aspirin.
Fred plans to make and bottle his cough syrup in an outbuilding on the family farm. His son, Sam, has been raving to the locals about his father’s cough syrup for
years, and the local drug store and grocer have contacted Fred to place orders as a result. Sam also intends to approach several national chains in an effort to
secure supply contracts for Fred’s cough syrup. Fred has asked Sam to assist him with deliveries, as Sam has a van. Fred would like Sam to be involved with the
business as an employee initially, with the option of making him a partial owner at a later time. Fred and his wife Sally have two children, Sam and Lilly. Both live
in cabins on the family farm with their spouses and children. Fred and Sally engage you as their attorney to assist with the formation of the new business,
including determining the appropriate business entity type, management issues, product liability issues, and estate planning for both the business and family
property. After your initial meeting, you identify and research the following issues.
Specifically, the following critical elements must be addressed:
I. Describe the main types of business entities and their defining characteristics.
II. Apply product liability law and determine what issues are present. How would you advise your client to mitigate those issues?
III. Apply the elements and characteristics of an agency relationship to Sam’s actions. Does Sam’s involvement prior to the business formation, as well as his
anticipated role once the business is formed, create an agency relationship? Why or why not?
IV. Identify potential real property issues based on the location of the business on the family farm. Justify each potential issue.
V. Does the manufacture of Fred’s Miracle Cough Syrup on the family farm necessitate a formal transfer of ownership or possessory rights? Defend your
response.
VI. Identify potential personal property issues based on the use of Sam’s personal vehicle to deliver the product. Justify each potential issue.
VII. Does the use of Sam’s personal vehicle in the course of business expose Sam or the business to any liability issues? Defend your response.
VIII. Identify potential estate .
Law and ethics 4 contractual capacity, consideration and contents
Law and ethics 4 contractual capacity, consideration and contents
1. Taylor serves on the board of directors for Cabby Company. Taylor.pdf
1. Taylor serves on the board of directors for Cabby Company. Taylor owns a lot of vacant land,
which she tried to sell unsuccessfully for two years. Taylor convinced the board of directors to
purchase 1,000 acres of her land for a price well over what the land is worth. This action may
violate the __________ rule.
A. business judgment B. insider trading C. fairness D. actual authority
2. Which of the following types of company offers protection for personal liability?
A. General partnership B. Term partnership C. Limited liability partnership D. Sole
proprietorship
3. An advantage of an S corporation is that shareholders can avoid
A. bylaws. B. double taxation. C. insider trading. D. estoppel.
4. Ken is the president of a large energy company. Company executives approached Ken about
purchasing some smaller companies to expand the business. Ken read the reports explaining the
potential risk and return of the investment, and he decided the purchase appeared to be a good
investment. Unfortunately, Ken was wrong, and the purchase caused the company to lose
millions of dollars. Based on these facts, Ken
A. should benefit from the business judgment rule. B. violated his duty of due diligence to the
corporation. C. should benefit from the fairness rule. D. violated his duty of loyalty to the
corporation.
5. Herbie owns a pizza parlor in New York. Herbie didn\'t file any documents to create the
business entity, he makes all the business decisions, and he retains all profit after overhead is
paid. Herbie owns a
A. sole proprietorship. B. corporation C. partnership. D. limited liability company.
6. Jennie owns shares in Superstore, Inc. A vote about whether Superstore should expand its
operations to China is coming up. Jennie thinks this is a good idea, but she doesn\'t own enough
shares to control the outcome of the vote. Jennie could increase the chance that the vote will go
her way by
A. entering into a pooling agreement. B. making a shareholder proposal. C. offering to give
someone else a proxy. D. filing a derivative suit.
7. The difference between a limited partnership and a registered limited liability partnership
(RLLP) is that
A. all partners have limited liability in a limited partnership, but not in an RLLP. B. an RLLP can
have secret partners, while a limited partnership can\'t. C. a limited partnership can have secret
partners, while an RLLP can\'t. D. all partners have limited liability in an RLLP, but not in a
limited partnership.
8. Robert owns shares in Products, Inc., and suspects that Zach, one of the directors of the
company, has been stealing corporate assets. Robert complains to the corporation, but no action
is taken. Robert should file a
A. direct suit against Products, Inc. B. direct suit against Zach. C. derivative suit against
Products, Inc., on his own behalf. D. derivative suit against Zach on behalf of Products, Inc.
9. Steve decides to incorporate his business, but he thinks it\'s too expensive to hire an attorney
to adv.
BUS 307 Case Study 2 Guidelines and Rubric For this .docx
BUS 307 Case Study 2 Guidelines and Rubric
For this Case Study, craft a professional email, appropriate in format, tone, and content, to send to your clients, Fred and Sally, with your preliminary thoughts
on the issues within. Your emails should illustrate the issues, relevant law, apply the facts, and support your conclusions with regard to each issue. Always
remember to be clear, kind, and professional in your communications.
Case Study 2
Fred’s Miracle Cough Syrup has hit the market and become a huge success with the burgeoning integrative medicine demographic. Per your advice, Fred has
patented his famous concoction and trademarked the Fred’s Miracle Cough Syrup name and logo. Demand is so high that Fred and Sally are working full-time on
the business. Their children, Sam and Lilly, and their respective spouses, Jane and Tim, have joined the company full-time as well. In fact, Fred and Sally have
made Sam and Lilly part owners of the business. Fred, Sam, and Tim handle the production, sales, and delivery. Sally and Lilly handle the majority of the
administrative and business management tasks, while Jane acts as the bookkeeper. Sally and Fred are the only authorized signatories on the corporate account.
Sally and Lilly have been hard at work securing a new production facility and distribution chain to accommodate an upcoming contract with a national chain.
After locating a large warehouse on several acres, Sally and Lilly approach their local credit union for a loan. The business has only one business credit card used
to purchase supplies for the production of Fred’s Miracle Cough Syrup, and there is a small mortgage outstanding on the family farm. Personal debts of the
individual family members consist of small credit-card balances for Fred, Sally, Sam, and Lilly as well as an auto loan on Sam’s van.
During the commercial loan accounting review process, Sally and Lilly discover that Jane has been siphoning off large amounts of corporate money and “cooking
the books” to hide her actions. Jane has written several checks from the corporate account and forged both Sally’s and Fred’s signatures. Jane has made out all
but one of the forged checks to Don, a local loan shark, in an effort to repay her gambling debts. The check Jane did not deliver to Don was made out to “Cash,”
which she slipped into the collection box at church in an effort to absolve her guilt. The embezzlement was so severe that the family fears that Fred’s Miracle
Cough Syrup is now on the brink of bankruptcy. Meanwhile, Sam’s refusal to enter into an exclusive distribution deal with the local drugstore has enraged Bob,
the owner. Bob has now reverse engineered Fred’s cough syrup recipe and has posted it online in an act of vengeance.
As Fred and Sally tearfully recount the events of the past month, you reassure them that you are on the case, and you begin to ponder the legal issues at hand.
Specifically, the following critical elements ...
[PMC, Inc. v. Saban Entertainment, Inc. (1996) 45 CA4th 579, 52 CR.docx
[PMC, Inc. v. Saban Entertainment, Inc. (1996) 45 CA4th 579, 52 CR2d 877]
Lacoff v. Buena Vista Publishing, Inc., (2000) 705 NYS2d 183
[Essex Group, Inc. v. Southwire Co., 501 S.E.2d 501 (Sup. Ct., Ga., 1998)]
Hollinger v. Sifers, --- S.W.2d --- (2003 WL 22997218, Ct. App., Mo., 2003)
[Cordas v. Peerless Transportation Co., (1941) 27 N.Y.S. 2d 198]
Running head: LEGAL ENVIRONMENT FOR BUSINESS 1
LEGAL ENVIRONMENT FOR BUSINESS 7
Legal environment for Business:
Student’s Name:
Institutional Affiliation:
Case Analysis
Case, 1
Title: Roy Vs Melissa
The Facts of the case: The parties involved in this case include Melissa, Roy and Jake. Melissa is the owner of the copyright covering the sale and distribution of dolls. Roy is the initial client that Melissa intends to sell the copyright to but they do not sign an agreement with Melissa to imply that he has purchased the copyright. On the other hand, Jake is also an interested party in buying Melissa’s patent and convinces her to sign a formal agreement granting him the exclusive rights. The three parties’ dispute over who is the right owner of the copyright.
Proceedings Below: The lower courts may have incorporated the fact that Jake acquired the copyright maliciously and so ruled in favor of Roy. Conversely, Roy will lose his rights over the patent since there are no legal statements confirming that he received the copyright from Melissa.
The Question before the court: The question before the court is whether the law permits copyright transfers without any legally binding agreement. In this case, the specific legal question is what the law considers as the legal procedure for the reassignment of copyrights. Therefore, Roy must understand that a convention does not exist simply because there is a concurrence between him and Melissa. Additionally, such a contract for the sale of copyright must have a requirement of writing and must be signed by both parties for it to be legally binding. Conversely, it is important to realize that in the situation of Melissa and Roy, there was an element of offer and acceptance.
Holding: The rule that applies to the issues in this case is the components of a valid contract. As such, a legitimate agreement must be signed and at least must be witnessed by a third party in order to be legally binding.
Reasoning: The law requires that people analyze the contents and the obligations that makes the transfer of ownership lawful before getting into a contract. As such, it was Roy’s duty to ensure that he gets to sign an agreement showing that the copyright has legally been transferred to him. Further, entering into a contract by a word of mouth presents loop holes for the provider of the proposal to practice deception.
Concurrence: From the foregoing, Roy loses the copyright title to Jake. Consequently, Roy must understan.
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