This paper presents a case study seeking to discuss various business laws using the case of car sales and negotiations and the laws surrounding that business. In this paper, we will consider the case of Josh Harty, who wishes to purchase a new car. He chooses to go to a local dealer in motor vehicles. He states clearly to the salesperson that he has a specific car he wants, the 3.2 liter V-6. He chooses it over the 3.9 liter one because he has issues about the fuel economy of the 3.9 liter engine
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|[pic] |COURSE SYLLABUS | | |School of Business | | |LAW/421 Version 1 | |
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Christy Matheny Regulation 11/10/2014 Kim v. Son Case Study Reading and learning about the Kim v. Son case was very interesting and brought up different contract principals to examine. In this study we see that Jinsoo Kim invested money into two corporations owned by Stephen Son. The two businesses ended up failing and all of Kim’s investment went down the drain. Down the road, after the downfall of the corporation, Kim and Son met to eat and drink where Son made an intoxicated promise with
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more months passed before BTT contacted him again to revoke the contract. This paper will attempt to point out why Chou has a case against BTT for contract enforcement. This type of contract is governed by state statutory law based on the Uniform Commercial Code (UCC), Article 2, as it is a contract for the sale of goods. Generally, the contract would be considered unenforceable as it was stipulated by both parties in the original negotiation agreement that no contract existed unless it were in written
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In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss. Use the Internet or Strayer databases to research a different bank of your choosing. Write a five to six (5-6) page paper in which you: Discuss how administrative agencies like the Securities
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a remedy or the performance of which the law in some ways recognizes a duty. Sources of contract law include the Common Law of Contracts (developed primarily by state courts) and the Uniform Commercial Code (UCC) which is a comprehensive statutory scheme that includes laws that cover aspects of commercial transactions. Elements of a Contract: 1. Agreement – between parties, requires an offer and an acceptance, and mutual assent. 2. Consideration – EX: money, personal or real property
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In the case of Kim v. Son a contract has been agreed upon by the two individuals for Son to make his best efforts to repay the lost investment of Kim. However, this contract that the two men agreed upon is not enforceable due to lack of consideration for Son and the intoxicated state in which Son proposed the agreement. The consideration that must be evaluated is whether or not Kim’s agreement not to sue to recover his lost investment has value to Son. Under the agreement Kim stands to benefit
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Acme Fireworks Business Growth Faith Daniel Business Law (BBL1510B) Instructor Donald Ceplenski March 23rd, 2015 Acme Fireworks is a small partnership company that manufactures fireworks, fireworks displays and recently have added the service of setting off farm displays. Acme started a small fireworks company inside the owner’s garage and has grown into a fully functional company including the owner manager and 15 employees. The manager of Acme fireworks started in that position approximately
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_______________________ CHAPTER 3 _______________________ HOLDERS IN DUE COURSE I. ACQUIRING HOLDER IN DUE COURSE STATUS If you remember the rule that a holder in due course takes free of most of the defenses the parties to the original transaction have against one another, it is easy to see why it is important to determine if the person currently possessing the instrument qualifies as a holder in due course. The basic definition is found in §3-302(a), which you should read carefully. Official
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Examines the legal environment of business, the sources of American law, and the basis of authority for government to regulate business. Provides a survey of tort law, contracts and the UCC, and the federal and state courts. INSTRUCTIONAL MATERIALS Required Resources Bagley, C. E., & Savage, D. W. (2010). Managers and the legal environment:2010 custom edition (6th ed.). Mason, OH: South-Western Cengage Learning. Supplemental Resources Fischbach, J., & Fischbach, M. (2005). Rethinking optimality
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