Questions from Business Law

Q: Sippy was thinking of buying Christich ’ s house. He noticed

Sippy was thinking of buying Christich ’ s house. He noticed watermarks on the ceiling, but the agent showing the house stated that the roof had been repaired and was in good condition. Sippy was not...

Q: Douglas Hansen, Leo Borrell, and Bobby Lawrence were three psychiatrists

Douglas Hansen, Leo Borrell, and Bobby Lawrence were three psychiatrists who recognized the need for an inpatient treatment facility for adolescents and children in their community. They became limite...

Q: High-Tech Collieries borrowed money from Holland. High-Tech

High-Tech Collieries borrowed money from Holland. High-Tech later refused to be bound by the loan contract, claiming the contract was not binding because it had been obtained by duress. The evidence s...

Q: Danny Hill, the general manager of Southeastern Floor Covering Co.,

Danny Hill, the general manager of Southeastern Floor Covering Co., Inc. (SE), had full authority to run the business. His responsibilities included pre- paring and submitting bid proposals to general...

Q: A director of a corporation cannot lend money to the corporation because

A director of a corporation cannot lend money to the corporation because that would create the danger of a conflict of interest between the director ’ s status as a director and as a creditor. Apprais...

Q: Getty Petroleum distributes gasoline through dealer- owned stations. Customers who

Getty Petroleum distributes gasoline through dealer- owned stations. Customers who buy gas at a Getty station can pay by cash or credit card. When a customer uses a credit card, Getty processes the tr...

Q: Hamway and other minority shareholders brought an action against majority shareholders of

Hamway and other minority shareholders brought an action against majority shareholders of Libbie Rehabilitation Center, Inc., including Frank Giannotti, CEO-director; Alex Grossman, president- directo...

Q: Anthony Yee was the president of Waipahu Auto Exchange, a corporation

Anthony Yee was the president of Waipahu Auto Exchange, a corporation. As part of his corporate duties, he arranged financing for the company. Federal Services Finance Corp. drew 12 checks payable to...

Q: Klinicki and Lundgren incorporated Berlinair, Inc., a closely held Oregon

Klinicki and Lundgren incorporated Berlinair, Inc., a closely held Oregon corporation. Lundgren was president and responsible for developing business. Klinicki served as vice president and director re...

Q: Rudolph Redmont, the president of Abbott Thinlite Corp., left Abbott

Rudolph Redmont, the president of Abbott Thinlite Corp., left Abbott to run Circle Corp. in competition with his former employer. It was claimed that he diverted contracts from his former employer to...