Questions from Business Law


Q: Dorothy and John Huffschneider listed their house and lot for sale with

Dorothy and John Huffschneider listed their house and lot for sale with C. B. Property. The asking price was $165,000, and the owners told C. B. that the size of the property was 6.8 acres. Dean Olson...

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Q: Christine Boyd was designated as the beneficiary of a life insurance policy

Christine Boyd was designated as the beneficiary of a life insurance policy issued by Aetna Life Insurance Company on the life of Christine's husband, Jimmie Boyd. The policy insured against Jimmie's...

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Q: Mr. Sewall left his car in a parking lot owned by

Mr. Sewall left his car in a parking lot owned by Fitz-Inn Auto Parks, Inc. The lot was approximately 100 by 200 feet in size and had a chain link fence along the rear boundary to separate the lot fro...

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Q: Treasure Salvors and the State of Florida entered into a series of

Treasure Salvors and the State of Florida entered into a series of four annual contracts governing the salvage of the Nuestra Senora de Atocha. The Atocha is a Spanish galleon that sank in 1622, carry...

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Q: Jane Francois married Victor H. Francois. At the time of

Jane Francois married Victor H. Francois. At the time of the marriage, Victor was a 52 year-old bachelor living with his elderly mother, and Jane was a 30-year-old, twice-divorced mother of two. Victo...

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Q: Iverson owned Iverson Motor Company, an enterprise engaged in the repair

Iverson owned Iverson Motor Company, an enterprise engaged in the repair as well as the sale of Oldsmobile, Rambler, and International Harvester Scout automobiles. Forty percent of the business's sale...

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Q: On February 10, Mrs. Sunderhaus purchased a diamond ring from

On February 10, Mrs. Sunderhaus purchased a diamond ring from Perel & Lowenstein for $6,990. She was told by the company's salesman that the ring was worth its purchase price, and she also received at...

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Q: Division West Chinchilla Ranch advertised on television that a five-figure

Division West Chinchilla Ranch advertised on television that a five-figure income could be earned by raising chinchillas with a yearly investment of only $3.75 per animal and only thirty minutes of ma...

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Q: William Schmalz entered into an employment contract with Hardy Salt Company.

William Schmalz entered into an employment contract with Hardy Salt Company. The contract granted Schmalz six months' severance pay for involuntary termination but none for voluntary separation or ter...

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Q: Glen Haumont, who owned an equipment retail business in Broken Bow

Glen Haumont, who owned an equipment retail business in Broken Bow, Nebraska, owed the Security State Bank more than $628,000 due to improper selling practices as well as business and inventory loans....

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