Tag: Business Law

Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.
Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door sedan.  Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day. Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No documents were signed.
The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to buy the car because they did not want to spend that money each month. Therefore, Jim and Laura tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.
Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car; therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked and angry as not only do they not want to spend the money, but now feel as though they are being duped by Stan Salesman.
Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student taking a business law class and come to you for advice. They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.
In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:

1. Define the elements of a legal contract using examples from the scenario where applicable.
2. Decide whether or not there was a contract for the purchase of the automobile.
3. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
4. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as quality academic resources.
5. Format your assignment according to the following formatting requirements:
   • Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
   • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
   • Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.

Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Corporations have a lot of influence over the economy, the community, and people. The traditional view of corporate responsibility is that a corporation has no additional social responsibility beyond making a profit for its shareholders. In more recent years, arguments have arisen with the belief that corporations have a high degree of social responsibility to people who are affected by the corporation’s decisions.
Case Example: Phishy Pharmaceuticals is a corporation that recently kicked off the sale of its new weight-loss pill, Lose It Fast. After 3 months of sales, the management team has received some troubling reports of some unanticipated side effects caused by the pill. The management team asks the accounting department to run some numbers to determine how much it would cost to recall Lose It Fast, to suspend manufacturing, and to conduct more tests to determine the pill’s safety and other possible side effects.
After running some numbers, the accounting department states that it would be more cost-effective to leave the product on the market shelves and propose settlement proceedings with anyone who is injured and initiates a lawsuit.
The corporate attorney has advised that the product’s packaging states that the pill is not FDA-approved, and says off the record that everyone who buys a weight-loss product knows there are some risks involved, so it is likely that the majority of injured consumers will not initiate a lawsuit.
If you recall the product, it will result in a delay of dividends paid to shareholders, a loss in revenue affecting shareholder profit, and possibly your job as CEO.
FOR argument: Would you be for leaving the product on the shelf because you feel your duty as a corporate manager is to maximize shareholder profits? If so, under what corporate social responsibility theory would you be operating?
AGAINST argument: Would you be against leaving the product on the shelf and recall the product because you feel the corporation owes a duty to the public, consumers, and the government in terms of social responsibility? If so, under what corporate social responsibility theory would you be operating?

. Which of the following is an example of discharge by impossibility?
A. Jason agrees to paint Sheila’s house for $1,000. Sheila later tells Jason that she won’t pay him. As a result, Jason decides not to paint. B. Jason agrees to paint Sheila’s house for $1,000. Before Jason can paint, Sheila’s house burns down. C. Jason agrees to paint Sheila’s house for $1,000. Jason paints, but before Sheila pays him, she files bankruptcy. As a result, Jason doesn’t get paid. D. Jason agrees to paint Sheila’s house for $1,000. Sheila changes her mind and asks Jason not to paint. Jason agrees.
2. Sara purchases life insurance on her own life and makes her husband, Dean, the beneficiary. Sara dies. Dean applies to the insurance company for payment of the proceeds. The insurance company denies payment, pointing out that Dean didn’t sign the contract and therefore doesn’t have privity of contract. Dean is
A. not entitled to the proceeds because he doesn’t have privity of contract. B. entitled to the proceeds as an intended beneficiary.
C. entitled to the proceeds as an incidental beneficiary.
D. entitled to the proceeds because he was married to Sara.
4. Warren agrees to paint Abby’s restaurant for $1,000. Warren fails to paint. Abby may be entitled to punitive damages if
A. Abby has to pay substantially more than $1,000 for someone else to perform the job.
B. the contract breached was both written and witnessed.
C. Warren doesn’t know how to paint, misrepresented himself as a painter, and never intended to paint.
5. Robert contracts to paint Jake’s house for $500. Robert then asks Elmer to perform the painting work for him. Elmer does a bad job, and Jake wants to sue for breach of contact. Which of the following is true?
A. Robert is responsible for the breach of the contract only if there has been a novation. B. Robert isn’t responsible if he gave Jake notice of the delegation.
C. Robert is responsible for the breach of the contract.
D. Elmer, but not Robert, is responsible for the breach.
9. Kevin, a world-renowned violinist, agrees to play at the reception for Jay’s wedding. Something comes up at the last minute, and Kevin delegates his duty to perform to Susan, a mediocre but professional violinist. This delegation is
A. permissible if Kevin also assigns to Susan the right to be paid for playing. B. impermissible.
C. permissible.
D. permissible if Susan performs well.
11. Which of the following acts is designed to cut down on identity theft related to the use of credit cards?
A. Fair and Accurate Credit Transactions Act
B. Uniform Computer Information Transactions Act C. Uniform Electronic Transactions Act
D. E-Sign Act
13. Stan contracts to sell his house to Bonnie for $150,000. Stan then finds a buyer who will pay $200,000 and tells Bonnie he won’t perform. Bonnie wants to make Stan honor his contract. The remedy she should seek is
A. compensatory damages. B. specific performance.
C. punitive damages.
D. consequential damages.
14. On June 29, Henry contracts to purchase American flags, which Henry intends to sell at the annual Fourth of July fireworks event, from Liz. The contract doesn’t specify a delivery date. Liz delivers the flags on July 7. Henry sues for breach of contract. Which of the following will most likely happen?
A. Liz will win because the contract didn’t specify a delivery date. B. Henry will win because of the equal dignities rule.
D. Henry will win because of the standard construction rule.
16. A substitution, by mutual agreement, of a new party for one of the original parties to a contract is called a
.
B. complete performance. C. condition concurrent.
D. novation.
17. Which of the following is an example of discharge by operation of law?
A. Xavier agrees to paint Rita’s house for $1,000. Xavier paints, but before Rita pays him, she files bankruptcy. As a result, Xavier doesn’t get paid. B. Xavier agrees to paint Rita’s house for $1,000. Before Xavier can paint, Rita’s house burns down. . D. Xavier agrees to paint Rita’s house for $1,000. Rita later tells Xavier that she won’t pay him. As a result, Xavier decides not to paint.
18. Danielle purchases life insurance on her own life with Big Life Insurance and makes her husband, Walter, the beneficiary. Which of the following statements is true?
A. Walter is a donee beneficiary.
B. Big Life Insurance is a creditor beneficiary.
C. Danielle is an intended third-party beneficiary.
D. Danielle is a donee beneficiary. 20. Jessica orally agrees that she will sell 400 pairs of flip-flops to a customer for $600. This agreement is
A. unenforceable because of the statute of frauds.
C. unenforceable because of the parol evidence rule.
D. unenforceable because all necessary elements aren’t met.

Instructions

For this assignment you will review “Walmart “. Write an essay, 1100-1400 words using proper APA formatting on the following:

How are each of the following issues addressed in the organization? Do you have any suggestions for improvements?

• Restrictive covenants such as non-competition, non-solicitation provision
• Access and use of technology resources
• Access and use of confidential and proprietary information
• Transfer of intellectual property work product
• Performance evaluation
• Discrimination
• Health and Safety Standards