Questions from Business Law

Q: Ruth and Stella were sisters. They owned a house as joint

Ruth and Stella were sisters. They owned a house as joint tenants with right of survivorship. Ruth sold her half interest to Roy. Thereafter, Stella died, and Roy claimed the entire property by surviv...

Q: Charter Apparel, Inc., supplied fabric to Marco Apparel, Inc

Charter Apparel, Inc., supplied fabric to Marco Apparel, Inc., in December to manufacture finished articles of clothing at its Walnut Grove, Mississippi, facilities. The fabric arrived just before the...

Q: On March 6, Colt Manufacturing Co., a handgun manufacturer,

On March 6, Colt Manufacturing Co., a handgun manufacturer, sponsored a farewell dinner for one of its officers, Marc Fontane. At the dinner, two Colt officials presented Fontane with a .45-caliber Co...

Q: Sensor, a Netherlands business organization wholly owned by Geosource, Inc

Sensor, a Netherlands business organization wholly owned by Geosource, Inc., of Houston, Texas, made a contract with C.E.P. to deliver 2,400 strings of geophones to Rotterdam by September 20, 1982. Th...

Q: Joyce Clifford gave a check for $5,000 to her

Joyce Clifford gave a check for $5,000 to her nephew Carl to help with living expenses for his last year of college. The face of the check stated, “ As a loan. ” Years later, Carl wrote to his aunt as...

Q: Arthur Grace, a world-renowned photo-journalist, had

Arthur Grace, a world-renowned photo-journalist, had an agreement with Sygma-Paris and Sygma-New York whereby Grace turned well over 40,000 of his photographic images to Sygma, and Sygma agreed to act...

Q: In 1971, Harry Gordon turned over $40,000 to

In 1971, Harry Gordon turned over $40,000 to his son, Murray Gordon. Murray opened two $20,000 custodial bank accounts under the Uniform Gifts to Minors Act for his minor children, Eden and Alexander....

Q: New York ’ s banking law provides that a presumption arises that

New York ’ s banking law provides that a presumption arises that a joint tenancy has been created when a bank account is opened in the names of two persons “ payable to either or the survivor. ” While...

Q: Martin Acampora purchased a shotgun at a garage sale years ago,

Martin Acampora purchased a shotgun at a garage sale years ago, never used the weapon, and did not know of any defects in it. His 31-year-old son Marty borrowed the shotgun to go duck hunting. As Mart...

Q: Baena Brothers agreed to reupholster and reduce the size of the

Baena Brothers agreed to reupholster and reduce the size of the arms of Welge ’ s sofa and chair. The work was not done according to the contract, and the furniture when finished had no value to Welg...