Questions from Business Law

Q: Judith and John Brooks hired Wayne Hayes to build a house.

Judith and John Brooks hired Wayne Hayes to build a house. The contract required Hayes to “provide all necessary labor and materials and perform all work of every nature whatsoever to be done in the...

Q: Intercontinental Metals Corp. (IMC) contracted with the accounting firm

Intercontinental Metals Corp. (IMC) contracted with the accounting firm of Cherry, Bekaert & Holland to perform an audit. Cherry issued its opinion about IMC, giving all copies of its report directly...

Q: Nationwide Discount Furniture hired Rampart Security to install an alarm in its

Nationwide Discount Furniture hired Rampart Security to install an alarm in its warehouse. A fire would set off an alarm in Rampart’s office, and the security company was then supposed to notify Nati...

Q: A century and a half ago an English judge stated: “

A century and a half ago an English judge stated: “All painters do not paint portraits like Sir Joshua Reynolds, nor landscapes like Claude Lorraine, nor do all writers write dramas like Shakespeare...

Q: Twin Creeks Entertainment signed a deal with U.S. JVC

Twin Creeks Entertainment signed a deal with U.S. JVC Corp. in which JVC would buy 60,000 feature film videocassettes from Twin Creeks over a three-year period. JVC intended to distribute the cassett...

Q: I oversee the internal audit function at my company. Although we

I oversee the internal audit function at my company. Although we always use a Big Four accounting firm, we have no loyalty to any one particular firm. We hold periodic bid competitions to get the lo...

Q: The Senate recently released a report on wrongdoing at JPMorgan Chase &

The Senate recently released a report on wrongdoing at JPMorgan Chase & Co. It found that bank executives lied to investors and the public. Also, traders, with the knowledge of top management, chang...

Q: In 1996, California legalized the medical use of marijuana, even

In 1996, California legalized the medical use of marijuana, even though it was still illegal under federal law. Californians Angel Raich and Diane Monson used homegrown medical marijuana. When feder...

Q: In the landmark 1965 case of Griswold v. Connecticut, the

In the landmark 1965 case of Griswold v. Connecticut, the Supreme Court examined a Connecticut statute that made it a crime for any person to use contraception. The majority declared the law an uncon...

Q: David Lucas paid $975,000 for two residential lots on

David Lucas paid $975,000 for two residential lots on the Isle of Palms near Charleston, South Carolina. He intended to build houses on them. Two years later the South Carolina legislature passed a s...