Questions from Business Law

Q: Jessie borrows $1,000 from Thomas and agrees to repay

Jessie borrows $1,000 from Thomas and agrees to repay the money in 30 days. Thomas assigns the right to the $1,000 to Douglas Finance Co. Douglas sues Jessie. Jessie argues that she had agreed to pay...

Q: Helen obtained an insurance policy insuring her life and naming her niece

Helen obtained an insurance policy insuring her life and naming her niece Julie as beneficiary. Helen died, and about a year later the policy was found in her house. When Julie claimed the insurance m...

Q: Lone Star Life Insurance Co. agreed to make a long-

Lone Star Life Insurance Co. agreed to make a long- term loan to Five Forty Three Land, Inc., whenever that corporation requested one. Five Forty Three wanted this loan to pay off its short-term debts...

Q: The New Rochelle Humane Society made a contract with the city of

The New Rochelle Humane Society made a contract with the city of New Rochelle to capture and impound all dogs running at large. Spiegler, a minor, was bitten by some dogs while in her schoolyard. She...

Q: Zoya operated a store in premises rented from Peer- less.

Zoya operated a store in premises rented from Peer- less. The lease required Zoya to maintain liability insurance to protect Zoya and Peerless. Caswell entered the store, fell through a trap door, and...

Q: Henry was owed $10,000 by Jones Corp. In

Henry was owed $10,000 by Jones Corp. In consideration of the many odd jobs performed for him over the years by his nephew, Henry assigned the $10,000 claim to his nephew Charles. Henry died, and his...

Q: CIT entered into a sale/leaseback contract with Condere Tire Corporation

CIT entered into a sale/leaseback contract with Condere Tire Corporation for 11 tire presses at Condere ’ s tire plant in Natchez, Mississippi. Condere ceased making payments on these presses owned by...

Q: Lymon Mitchell operated a Badcock Home Furnishings dealership, under which as

Lymon Mitchell operated a Badcock Home Furnishings dealership, under which as dealer he was paid a commission on sales and Badcock retained title to merchandise on display. Mitchell sold his dealershi...

Q: American Bank loaned Koplik $50,000 to buy equipment for

American Bank loaned Koplik $50,000 to buy equipment for a restaurant about to be opened by Casual Citchen Corp. The loan was not repaid, and Fast Foods, Inc., bought out the interest of Casual Citche...

Q: Metalcrafters made a contract to design a new earth- moving vehicle

Metalcrafters made a contract to design a new earth- moving vehicle for Lamar Highway Construction Co. Metalcrafters was depending on the genius of Samet, the head of its research department, to desig...