Questions from Business Law

Q: Distinguish among express, implied, and apparent authority.

Distinguish among express, implied, and apparent authority.

Q: Horvath opened a small convenience store, organizing the business as a

Horvath opened a small convenience store, organizing the business as a sole proprietorship. Because she was concerned that she would not have sufficient financing, she borrowed $20,000 from Blaum, her...

Q: Felagi and MacWilliams agreed to open a restaurant selling pizza and sandwiches

Felagi and MacWilliams agreed to open a restaurant selling pizza and sandwiches. The business was organized as a partnership, with each partner owning 50 percent and sharing profits and losses equally...

Q: Olav, a retired banker, served on the board of directors

Olav, a retired banker, served on the board of directors for a nationally prominent charitable organization. The local chapter of the charity discussed plans to purchase and relocate to a new building...

Q: Chen had numerous debts from credit card bills, a home mortgage

Chen had numerous debts from credit card bills, a home mortgage, and a loan resulting for a second automobile purchased on credit. He filed for bankruptcy under Chapter 7. Chen’s assets, in addition t...

Q: Travel Junction, a corporation, encounters financial difficulties and files for

Travel Junction, a corporation, encounters financial difficulties and files for bankruptcy under Chapter 11. The bankruptcy court approves a reorganization plan to pay back creditors over time and beg...

Q: Brown earned a significant income as a pilot for a major airline

Brown earned a significant income as a pilot for a major airline. Despite this high income, Brown ran into serious financial difficulties when she invested in a business owned by her brother that fail...

Q: Bolena sold some valuable jewelry to McGovern, whom she had never

Bolena sold some valuable jewelry to McGovern, whom she had never met before. She was concerned about whether McGovern’s check was good and whether there were sufficient funds on deposit in McGovern’s...

Q: Neville had a checking account at her local bank. She wrote

Neville had a checking account at her local bank. She wrote out a check to Shin, a maintenance worker, in payment for services he had provided. a. Is Neville the drawee? b. Is Shin the drawee? c. Is h...

Q: Hausen was planning an extensive trip to Europe and wanted to avoid

Hausen was planning an extensive trip to Europe and wanted to avoid carrying large sums of cash. a. Would you advise Hausen to carry certified checks? b. Would you advise Hausen to carry traveler’s ch...