Questions from Business Law

Q: Mark Murray and Ian Peck are art dealers who own separate art

Mark Murray and Ian Peck are art dealers who own separate art galleries located in New York. Robert and Jean Weil reside in Montgomery, Alabama, and are art collectors. Murray and Sam Lehr, a business...

Q: The text of a handwritten note stated simply that “‘ I Robert

The text of a handwritten note stated simply that “‘ I Robert Harrison owe Peter Jacob $25,000 ... , ’ /s/ Robert Harrison. ” Peter Jacob sought to use the handwritten note as a negotiable promissory...

Q: Trefalcon (a commercial arm of the government of Ghana) entered

Trefalcon (a commercial arm of the government of Ghana) entered into a contract with Supply Com- mission as a purchaser of residual fuel oil (RFO). Supply Commission agreed, among other things, to sup...

Q: Harry Ulmas made a contract to buy a new car from Acey

Harry Ulmas made a contract to buy a new car from Acey Oldsmobile. He was allowed to keep his old car until the new car was delivered. The sales contract gave him a trade-in value of $650 on the old c...

Q: Marc Rich & Co., A.G., a Swiss commodities

Marc Rich & Co., A.G., a Swiss commodities trading corporation, refused to comply with a grand jury subpoena requesting certain business records maintained in Switzerland and relating to crude oil tra...

Q: Catherine Joseph, who does business as Metro Classics, sold

Catherine Joseph, who does business as Metro Classics, sold clothing to Jackson Hole Traders, a corporation owned by David and Elizabeth Speaks. Jackson Hole Traders is located in Jackson, Wyoming,...

Q: Formetal Engineering submitted to Presto a sample and specifications for precut polyurethane

Formetal Engineering submitted to Presto a sample and specifications for precut polyurethane pads to be used in making air-conditioning units. Formetal paid for the goods as soon as they were delivere...

Q: McNeely entered into a contract with Wagner to pay $250,

McNeely entered into a contract with Wagner to pay $250,000 as a lump sum for all timber present in a given area that Wagner would remove for McNeely. The contract estimated that the volume in the are...

Q: Shareholders of Bear Stearns sued the directors of the corporation for damages

Shareholders of Bear Stearns sued the directors of the corporation for damages for violation of the directors ’ fiduciary duties in effecting a stock-for-stock merger with J.P. Morgan Chase for an imp...

Q: Wolosin purchased a vegetable and dairy refrigerator case from Evans Manufacturing Corp

Wolosin purchased a vegetable and dairy refrigerator case from Evans Manufacturing Corp. When Evans sued Wolosin for the purchase price, Wolosin claimed damages for breach of warranty. The sales contr...