Questions from Business Law

Q: The stock in Hotel Management, Inc., a hotel management corporation

The stock in Hotel Management, Inc., a hotel management corporation, was divided equally between two families. For several years the two families had been unable to agree on or cooperate in the manage...

Q: The FTC brings a deceptive trade practice action against Beneficial Finance Company

The FTC brings a deceptive trade practice action against Beneficial Finance Company based on Beneficial’s use of its “instant tax refund” slogan. The FTC argues that Beneficial’s advertising a tax ref...

Q: Jonathan writes to Willa, stating “I'll pay you $150

Jonathan writes to Willa, stating “I'll pay you $150 if you reseed my lawn.” Willa reseeds Jonathan's lawn as requested. Has a contract been formed? If so, what kind?

Q: Calvin uses fraud to induce Maria to promise to pay money in

Calvin uses fraud to induce Maria to promise to pay money in return for goods he has delivered to her. Has a contract been formed? If so, what kind? What are the rights of Calvin and Maria?

Q: Alpha issues a negotiable check to Beta payable to the order of

Alpha issues a negotiable check to Beta payable to the order of Beta in payment of an obligation Alpha owed Beta. Beta delivers the check to Gamma without indorsing it in exchange for 100 shares of Ge...

Q: Simon Sharpe executed and delivered to Ben Bates a negotiable promissory note

Simon Sharpe executed and delivered to Ben Bates a negotiable promissory note payable to the order of Ben Bates for $500. Bates indorsed the note, “Pay to Carl Cady upon his satisfactorily repairing t...

Q: Debbie Dean issued a check to Betty Brown payable to the order

Debbie Dean issued a check to Betty Brown payable to the order of Cathy Cain and Betty Brown. Betty indorsed the check, “Payable to Elizabeth East, (signed) Betty Brown.” What rights, if any, does Eli...

Q: Explain whether the following instrument is negotiable. March 1,

Explain whether the following instrument is negotiable. March 1, 2015 One month from date, I, James Jimson, hereby promise to pay Edmund Edwards: Six Thousand, Seven Hundred Fifty ($6,750.00) Dollars,...

Q: A route salesperson for Ideal Milk Company delivered a half-gallon

A route salesperson for Ideal Milk Company delivered a half-gallon glass jug of milk to Allen’s home. The next day, when Allen grasped the milk container by its neck to take it out of his refrigerator...

Q: Pablo agreed to lend Marco $500. Thereupon Marco made and

Pablo agreed to lend Marco $500. Thereupon Marco made and delivered his note for $500 payable to Pablo or order “ten days after my marriage.” Shortly thereafter Marco was married. Is the instrument ne...