Free Essay

Case Study Analysis Property Issues

In: Business and Management

Submitted By chellebea68
Words 709
Pages 3
Case Study Analysis Property Issues
Learning Team A
Law/531
8/25/2014
Craige Harrison IRAC
Issue: The issue brought before the Texas Court of Appeals is that the Tarhan’s bought property form the Mettlen’s and the Mettlens claimed that they retained the mineral intrests in the property. The Trahans believe that the interests were, or should have been, part of the transaction. The Trahans filed lawsuit in December of 2010 for the mineral intests more than 4 years later. The Mettlens filed a motion for summary judgment claiming that the lawsuit was time-barred by the applicable four year statute of limitation. The court found that the satute of limitations barred the Trahans lawsuit and judgment to the Mettlens. So the question is: is the four year limitation period applicable to the Trahans cause of action was tolled or otherwise rendered inapplicable by the facts and circumstances of the case and for how long.
Rule: Discovery Rule for Fraudulent Concealment
Analysis: The contract states that just after the description of the property the mineral, oil and gas and liquid that may be produced are products of the grantors. That there was no evidence of the Merrlens attempting to hinder the Trahans from reading the deed or that they attempted to hinder the Trahans
Conclusion: It was found that the warranty deed conveying title to the Trahans contains a clear and unambiguous reservation of mineral rights. The discovery rule for fraudulent concealment tolls the running of the statute of limitations only until the plaintiff discovers the fraud or could have discovered the fraud through the exercise of reasonable diligence. With no evidence to suggest that the Mettlens engaged in any conduct to mislead the Trahans or from them reviewing the the warranty deed.

Case Study Analysis Property
Intro (write introduction here)

Real, Personal and Intellectual Property Issues Real property includes items such as land, building and anything attached to the building. Real property can include items such as built in cabinets to living trees on the land to build in closets. Personal property is anything that is not included in real property. Real property can include items such as furniture, automobiles and lumber that was cut from trees on the land. “Intellectual property is a term that describes property that is developed through an intellectual and creative process” (Cheeseman, 2013, pg. 121). Examples of intellectual property include patents, trademarks, trade secrets and copy rights. All forms of property are protected and there are penalties for people who try and steal or misappropriate any form of property.

Applied Business Setting It is important as a manager in a business setting to understand the rules and regulations that go along with the different property forms. As an accounting manager you need to know the difference between real and personal property for tax purposes. Having an accurate list of real property and what the value of the property is important in filing a yearly property return for your business if one is required in the state you are residing.
3rd
The Trahan had some points that hurt there case and helped them. Having the contract that stated that the minerals were apart of the agreement would have been helpful. However when two parties show up to sign a contract stating one simply did not read the contract is no excuse. Mr. Trahan should have read and consulted a lawyer before signing that agreement especially if minerals had been mentioned earlier on in an agreement. The Trahan’s did not know how to draw a contract up nor did they research and do core samples of the property they wanted to purchase. If they had asked or looked into the property they would have found out that such contracts had already been established and could have been given a percentage or full sale of such material. Ethically there is a problem with this type of sale when the seller is knowingly taking advantage of the buyer, but buyers must not take everyone at their word and investigate before they sign and read everything before they sign.

Heading 4 Start fourth paragraph here.

Conclusion Start conclusion here.

References
Cheeseman, H. R. (2013). Business Law (8th ed.). Retrieved from The University of Phoenix eBook Collection Database

Similar Documents

Premium Essay

Syllabus

...business activity. Students create proposals to manage an organization's legal exposure. Other topics include the legal system, alternative dispute resolution, enterprise liability, product liability, international law, business risks, intellectual property, legal forms of business, and governance. Course Dates Oct 14, 2014 - Nov 24, 2014 Faculty Information Name : Email Address : Alternate Email Address Phone Number : ADRIENNE YEUNG (PRIMARY) Not Available Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents (both located on your student website): • Academic Policies University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Get Ready for Class • Familiarize yourself with the textbook used in this course. Course Materials All electronic materials are available on your student website. Week1 Legal Forms of Business and Alternative Dispute Resolution Tasks • Review the Week 1 Study Guide. • Review the Knowledge Check Faculty and Student Guide. Oct, 14 - Oct, 20 Objectives/Competencies 1.1 Differentiate among the legal forms of business. 1.2 Differentiate among nonjudicial methods of alternative dispute resolution. ...

Words: 2154 - Pages: 9

Free Essay

Case 3-45

...Case Study Report Case 3-45 The requirement of independence, both independence in appearance and independence of mind, is presented by the rules of the AICPA code of professional conduct. Every practitioner in public accounting profession is required to keep their independence and objectives; however, independence area is so complex that not all specific situation can be answered by AICPA. Instead, in most situations, the public accounting firm and auditors should make their own decisions by professional judgments to avoid possible threatens to independence. This is a case study report of Case 3-45, which is the best case to get a better understanding of these difficult situations that relate to auditors' independence. This report is presented in three parts: case introduction, case 1 analysis, case 2 analysis, conclusion and further study. In case introduction part, the firm and case overview is briefly introduced. In following two parts, case 1 analysis and case 2 analysis, include the detailed case overview, analysis according to AICPA rules and references, and opinions over each case. In the final conclusion and further study, the report reaches to the conclusion of Case 3-45 and develops the further study suggestions. Case Introduction In Case 3-45, the main office of a public accounting firm, charged by partners, has met two difficult situations that may impair the firm’s independence. Don Moore and Mary Reed are two professional staff, who, respectively, are involved...

Words: 1620 - Pages: 7

Premium Essay

Theory and Practice of the Economic Analysis of Law

...THEORY AND PRACTICE OF THE ECONOMIC ANALYSIS OF LAW POSSIBLE TOPICS FOR SEMINAR PAPERS 1. General Approaches Overview paper on classical, behavioural, neuro-economical approaches. 2. The Assumption of Economic Rationality Standard economic analysis assumes that people are rational maximizers of their own utility. This assumption consists of a cognitive element (“thin rationality”, the assumption that people’s preferences meet the requirements of completeness, dominance, invariance, etc.), and a motivational one (“thick rationality”, the assumption that ultimately people only care about their own utility). Students should analyze the fruitfulness and limitations of this assumption, as well as ways to overcome these limitations. 3. Theories of Human Motivation Overview about classical and new theories of human motivation, supplementing and/or challenging the idea of economic rationality as prime human motivation. 4. Economic Analysis and Commensurability Much of the attractiveness of economic analysis stems from the possibility of quantifying people’s preferences in monetary terms, which in turn facilitates the use of mathematical models to explain and predict human behavior, as well as to derive normative and policy implications. This raises the debate about the comparability and commensurability of values. 5. Economic Analysis of Law and the Endowment Effect There are competing explanations for the Endowment Effect and some economists actually doubt...

Words: 981 - Pages: 4

Premium Essay

Practicum Report

...HOSPITALITY INDUSTRY CASE STUDY Leading Hotel & Resort Brand Harnesses the Voice of the Customer to Improve the Guest Experience About the Brand One of the leading hotel and leisure companies in the world has over 1,000 properties spanning eight different brands in 100 countries and approximately 145,000 employees at its owned and managed properties. The company is also one of the premier developers and operators of high quality vacation interval ownership resorts. “ We were specifically looking for a tool that would provide the managers with a quick snapshot of the top ten guest compliments and top ten guest complaints each month... ...We also wanted to allow them to be able to drill down to look at the actual comments. Challenge: With a reputation for driving ever-higher levels of guest loyalty, satisfaction and brand advocacy, the hospitality company strives to continually improve its guest experiences. And what better way to accomplish that goal than by gaining a deep understanding of the wants, needs, and preferences of its guests? Indeed, collecting and analyzing customer feedback on an ongoing basis lies at the heart of the company’s day-to-day operations and overall growth strategy. Each of the hotels across the hospitality company’s entire portfolio of renowned brands automatically invites guests to complete a brief online satisfaction survey following their stay. The survey consists of standard questions with answer choices for rating different aspects...

Words: 1411 - Pages: 6

Premium Essay

Non Market Stategy

...POLECON 230 - NONMARKET STRATEGY This course addresses managerial issues in the social, political and legal environments of business. Cases and readings emphasize strategies to improve the performance of companies in light of their multiple constituencies, in both international and US environments. Topics include integrated strategy, activists and the media, legislation affecting business, lobbying, regulation and antitrust, intellectual property, international trade policy, and business ethics. Most core courses focus on firms’ interactions with customers, suppliers, and alliance partners in the form of mutually beneficial exchange transacted in markets. In contrast, this course considers the strategic interactions of firms with comparably important constituents, organizations, and institutions outside of markets. Issues considered include those involving activist and interest groups, the media, legislatures, regulatory and antitrust agencies, and international organizations such as the WTO. Markets and the business environment are increasingly interrelated: issues such as boycotts, legislation, regulation, judicial decisions, and trade policy directly affect firms’ market performance. Conversely, the profit-maximizing activities of firms often give rise to issues that involve governments and the public. For example, the market strategies of some ecommerce firms have sparked debates ranging from intellectual property protection to Internet privacy. Correspondingly, managerial decision-making...

Words: 5029 - Pages: 21

Premium Essay

Try to Read It

...parts thereof may not be reproduced or used in any manner without the prior written permission of the Certified General Accountants Association of Canada. Printed in Canada ISBN for an individual volume: 978-1-55219-599-4 About CGA-CANADA _________________________________________ CGA-Canada today The CGA designation focuses on integrity, ethics, and the highest education requirements. Recognized as the country’s accounting business leaders, CGAs provide strategic counsel, financial leadership, and overall direction to all sectors of the Canadian economy. The Certified General Accountants Association of Canada — CGA-Canada — sets standards, develops education programs, publishes professional materials, advocates on public policy issues, and represents CGAs nationally and internationally. The Association represents 75,000 CGAs and students in Canada, Bermuda, the Caribbean, Hong Kong, and China. Mission CGA-Canada advances the interests of its members and the public through national and international representation and the establishment of professional standards, practices, and services. A proud history CGA-Canada was founded in Montréal in 1908 under the leadership of John Leslie, vicepresident of the Canadian Pacific Railway. From the beginning, its objective was to encourage improvement in skills and job performance — a goal the Association holds to this day. On April 14, 1913, Canada’s Parliament passed the Act that incorporated CGA-Canada as a self-regulating...

Words: 39811 - Pages: 160

Premium Essay

Working with People

...| |Date Submitted | | |Week |Topics To Be Covered |Mode |Remarks | |1 |Offer and Acceptance |Lecture | | | | |Case Study | | | | |Q & A | | |2 |Intention to Create Legal Relations; Consideration |Lecture | | | | |Case Study | | | | |Q & A | | |3 |Capacity; Privity of Contract...

Words: 310 - Pages: 2

Premium Essay

Feasibility Study

...stocks, bonds and mutual funds. Depreciation is a gift from the government for real estate investors. Dampening of volatility in the portfolio: Real estate prices don’t fluctuate on daily basis. Fully optimized portfolios with real estate component in it have much lower volatility. Inflation hedge: real estate investments provide a good hedge against inflation. Rents usually increase with inflation, while mortgage payments on the property remain stable. This increases cash flow component. WHY SHOULD YOU NOT INVEST IN REAL ESTATE? Illiquid: Many a times real estate investments behave like illiquid assets. Generally it takes time to execute an actual exit, and liquidity can completely disappear from the market in tough times. Management intensive: Yes, it takes time and skill. You need to be able to find a host of reliable professionals to perform tasks that you are not able to do yourself.  You need to be able to coordinate activities between various contractors and tenants often times when you are not going to be there. Hiring a professional property management company can reduce some of your headaches. High...

Words: 1933 - Pages: 8

Premium Essay

Improving Quality in the Management of Property Development and Construction Projects

...IMPROVING QUALITY IN THE MANAGEMENT OF PROPERTY DEVELOPMENT AND CONSTRUCTION PROJECTS Portfolio presented on 29th October 2004 in partial fulfillment of the requirements for the degree of DOCTOR OF BUSINESS ADMINISTRATION (DBA) JOHN PANIL MIEM, PEng (Msia) Bsc. (Hons) Civil Eng. MBA (Tech. Mgmt.) International Graduate School of Management Division of Business and Enterprise University of South Australia DOCTOR OF BUSINESS ADMINISTRATION PORTFOLIO/DISSERTATION SUBMISSION SUPERVISOR APPROVAL DECLARATION Candidate Name: John Panil UniSA Candidate ID Number: 00112656C Dear Sir To the best of my knowledge, the portfolio contains all of the candidate's own work completed under my supervision, and is worthy of examination. I have approved for submission the portfolio that is being submitted for examination. 5.001) Signature: Supervi or Professor Si Heng Loke Date Signa re: Supervisor Dr Karlos Knapp Date Supported by: j (\Professor David Richards Chair, IGSM Doctoral Board of Examiners a% Date DECLARATION I hereby declare that this portfolio does not incorporate without acknowledgment any materials previously submitted for a degree or diploma in any university and that to the best of my knowledge, it also does not contain any materials previously published or written by another person, except where due reference is made in the text. Si Date: John anil Can date, Doctor of Business Administration II ACKNOWLEDGMENT ...

Words: 41815 - Pages: 168

Premium Essay

Pd the Patterns of Success in Product Development a Case Study

...development, Performance measurement INTRODUCTION Industrial research and development (R&D) uses science and technology to create new things or it improves products or processes for profit making companies. Product development, which is a very important part of R&D, can see the situations that are expected to improve a company’s competitive advantage and increase future success in periods. R&D management has been an essential point with the increase in investments. At the same time, performance measurement also has been an important contribution to increase of product development. Comparably, the research usually has been used a theory by companies instead of using it in applications based. In most cases, the companies do not evaluate R&D studies very well. They have not showed an interest in enough any time. On the other hand, they have tried to make an effort to increase the productivity. There is still something about the productivity to improve the efficiency of the interface between industrial R&D management and academic R&D...

Words: 2833 - Pages: 12

Premium Essay

Advance Database

...Requirements Analysis Objectives At the end of this exercise, the students are expected to:  Create user requirements and specification.  Computer Terminal  Software installed on the terminal: - Sybase SQL Anywhere 9 - Opening documents/reading – i.e. MS Word, Acrobat Reader, etc.  Software installed on the terminal  Printer and Paper (as necessary) Activity 1 FurniPointe Case Study 1. Read and analyze the FurniPointe case study presented below. 2. Using this case study acquire the following: a. Create the mission statement for the FurniPointe database system. b. Create the mission objective for the FurniPointe database system. c. Define the system boundary for the FurniPointe database system. d. Create a user’s requirements specification that describes in detail the data to be held in the database and how the data is to be used. To accomplish this, you need to:  Gather more information on the user views of the FurniPointe database system.  Gather information on the system requirements of the FurniPointe database system. FurniPointe Case Study The first branch office of FurniPointe was opened in 2001 in Taguig City. Since then, the Company has grown steadily and now has acquired several offices in Metro Manila. However, the Company is becoming large that more and more administrative staffs are being employed to cope with the everincreasing amount of paperwork. Furthermore, the communication and sharing of information between offices...

Words: 693 - Pages: 3

Premium Essay

Business Tax

...about VAT is if it should be imposed as a expenditure, gross-product or income-type tax. Malaysia proposed a consumption-based GST. The use of invoices for GST provides more simplicity on how the tax is imposed. For VAT imposed as an income-type the accounting representation would be more suitable. In that case it would be based on the economic records of the company. The main advantage of a VAT is that it is a broad based system. Typically government and non-profit enterprises are excluded from the tax base. Further an important policy decision is to determine the place where GST is levy. For International Trade the place where the GST is levied is a vital matter. On the one hand the GST can be levied on the location of assembly (the origin principle) on the other it can be based on the location of the final consumption (the destination principle).The origin principle VAT is levied on value added within the state for all goods and services despite of whether they are sold within the state or export out of the state. It excludes value added personified in the goods and services that originate outside the state. The most regular is the use of the goal principle. Our analysis thus far has focused on evaluate if GST is a regressive or progressive tax and the corrective actions, the impact of GST on different segments of the Malaysian households and on estimating total revenue raised taking into account leakage. however, the impact of implementing GST is wide range. 1) Inflation ...

Words: 1607 - Pages: 7

Premium Essay

Cis 324

...AFOLABI RESEARCH PAPER WEEK 10 8/28/13 Explain computer ethics Computers are special technology and they raise some special ethical issues. In this essay I will discuss what makes computers different from other technology and how this difference makes a difference in ethical considerations. In particular, I want to characterize computer ethics and show why this emerging field is both intellectually interesting and enormously important. On my view, computer ethics is the analysis of the nature and social impact of computer technology and the corresponding formulation and justification of policies for the ethical use of such technology. I use the phrase "computer technology" because I take the subject matter of the field broadly to include computers and associated technology. For instance, I include concerns about software as well as hardware and concerns about networks connecting computers as well as computers themselves. A typical problem in computer ethics arises because there is a policy vacuum about how computer technology should be used. Computers provide us with new capabilities and these in turn give us new choices for action. Often, either no policies for conduct in these situations exist or existing policies seem inadequate. A central task of computer ethics is to determine what we should do in such cases, i.e., to formulate policies to guide our actions. Of course, some ethical situations confront us as individuals and some as a society. Computer ethics...

Words: 1695 - Pages: 7

Premium Essay

Mis Assignment

...Summary This case study provides an analysis and evaluation of Facebook’s current strategy in the e-business of social networking. Facebook’s competitors are identified. Investigations are carried out to determine if Facebook’s strategy is effective in staying ahead of its competitors. It was found out that Facebook faced a few major problems. Intellectual property disputes with Harvard based houseSYSTEM’s creator, Aaron J. Greenspan and ConnectU had affected Facebook’s public image in 2004. Privacy issues problems forced Facebook to repetitively apologize to its users and made many amendments to its products. In late 2007, Facebook encountered over capacity in its data centers resulting in a drop in its user visiting Facebook website. With the existence of its competitors, MySpace and Twitter, Facebook found it challenging to expand its operation. It was recommended that Facebook should remain friends with its competitors and engaged in a collaborative alliance in developing technologies for the social network platform. Ensuring adequate privacy user controls is the key to customer satisfaction; therefore regaining trust back from Facebook’s user is crucial in its maintaining good business-customer relationship. 2 II. Statement of the Problem Since the day of its incorporation in 2004 until today, Facebook has faced several issues that affect the relationship with its customers and competitors. These issues can be categorized into intellectual property disputes,...

Words: 2813 - Pages: 12

Free Essay

Marketing

...PEPPERDINE  UNIVERSITY   THE  GEORGE  L.  GRAZIADIO   SCHOOL  OF  BUSINESS  AND  MANAGEMENT             KIMBER  MADERAZZO     662.12     MARKETING  COMMUNICATIONS     FALL  2014     TUESDAYS     6:00-­‐10:00  P.M.     MALIBU  CAMPUS               SYLLABUS                         662.12   MARKETING  COMMUNICATIONS   FALL  2014           Day/Class  time:    Tuesday’s  6:00  to10:00  p.m.   Location:  MALIBU  CAMPUS     Professor’s  Name:  Kimber  Maderazzo   Cell  Phone  #  310-­‐801-­‐1893   E-­‐mail  address:  kimber.maderazzo@pepperdine.edu     COURSE  DESCRIPTION     This  course  is  designed  to  introduce,  or  reacquaint,  the  student  with  the  subject  of     marketing  communications.  The  emphasis  in  this  course  will  be  on  the  role  of  an   Integrated  Marketing  Communications  (IMC)  program  in  both  building  and  maintaining   the  brand  image  and  health  of  an  organization.  Attention  will  be  given  to  the  various   IMC  tools  used  in  contemporary ...

Words: 2791 - Pages: 12