Questions from Business Law

Q: ABCO (Abbott Development Company) made a note payable to Western

ABCO (Abbott Development Company) made a note payable to Western State Bank of Midland. The FDIC took over Western State ’ s operations after it failed. ABCO had defaulted on the note, after which the...

Q: Bobby Murray Chevrolet, Inc., submitted a bid to the Alamance

Bobby Murray Chevrolet, Inc., submitted a bid to the Alamance County Board of Education to supply 1,200 school bus chassis to the district. Bobby Murray was awarded the contract and contracted with Ge...

Q: The Home Shopping Club ordered 12,000 Care Bear lamps from

The Home Shopping Club ordered 12,000 Care Bear lamps from Ohio International, Ltd. When the lamps arrived, they had poor painting and staining, elements were improperly glued and could come loose (a...

Q: Westinghouse Electric Corporation entered into uranium supply contracts with 22 electric utilities

Westinghouse Electric Corporation entered into uranium supply contracts with 22 electric utilities during the late 1960s. The contract prices ranged from $7 to $10 per pound. The Arab oil embargo and...

Q: Steel Industries, Inc., ordered steel from Interlink Metals & Chemicals

Steel Industries, Inc., ordered steel from Interlink Metals & Chemicals. The steel was to be delivered from a Russian mill. There were political and other issues in Russia, and the mill was shut down....

Q: Nuco Plastics, Inc., was developing production molds for Universal Plastics

Nuco Plastics, Inc., was developing production molds for Universal Plastics, Inc. During the course of the development of the molds, Universal changed specifications and required the use of different...

Q: Jerry O. Peavy, Jr., who did not have a

Jerry O. Peavy, Jr., who did not have a bank account of his own, received a draft from CNL Insurance America in the amount of $5,323.60. The draft was drawn on CNL ’ s account at Bank South, N.A., and...

Q: Hornell Brewing Company is a supplier and marketer of alcoholic and nonalcoholic

Hornell Brewing Company is a supplier and marketer of alcoholic and nonalcoholic beverages, including the popular iced tea drink, Arizona. In 1992, Stephen A. Spry and Don Vultaggio, Hornell ’ s chair...

Q: National Computers, Inc., a U.S. firm,

National Computers, Inc., a U.S. firm, entered into a joint venture with a Chinese computer manufacturing organization, TEC. A dispute arose over payments due the U.S. firm under the joint venture agr...

Q: Compare an implied contract with a quasi-contract.

Compare an implied contract with a quasi-contract.