Questions from Business Law

Q: Moe and Joe Rappaport (Tenants) leased space in a shopping

Moe and Joe Rappaport (Tenants) leased space in a shopping mall owned by Bermuda Avenue Shopping Center Associates, L.P. (Landlord), to use as an indoor golf arcade. The lease was signed, and Tenants...

Q: Middleton Tract consisted of approximately 560 acres of land located in the

Middleton Tract consisted of approximately 560 acres of land located in the Santa Cruz Mountains in San Mateo County, California. The land, which had once been owned by William H. Middleton, had been...

Q: Gary and Ila Fedderson owned and operated Whiskey Flow, a restaurant

Gary and Ila Fedderson owned and operated Whiskey Flow, a restaurant and bowling alley located in Howard, South Dakota. After operating the business for some time, the Feddersons purchased a $1 millio...

Q: The archdiocese of Miami established a health and welfare plan to provide

The archdiocese of Miami established a health and welfare plan to provide medical coverage for its employees. The archdiocese purchased a stop-loss insurance policy from Lloyd’s of London (Lloyd’s), w...

Q: Milton Mende purchased the Star Midas Mining Co., Inc., a

Milton Mende purchased the Star Midas Mining Co., Inc., a Nevada corporation, for $6,500. This corporation was a shell corporation with no assets. Mende changed the name of the corporation to American...

Q: Homer and Edna Jones, husband and wife, executed a joint

Homer and Edna Jones, husband and wife, executed a joint will that provided “We will and give to our survivor, whether it be Homer Jones or Edna Jones, all property and estate of which the first of us...

Q: Nagib Giha (husband) filed a complaint for divorce from Nelly

Nagib Giha (husband) filed a complaint for divorce from Nelly Giha (wife) on the grounds of irreconcilable differences. On May 20, the parties reached an agreement for the disposition of their propert...

Q: While Nigeria, an African nation, was in the midst of

While Nigeria, an African nation, was in the midst of a boom period due to oil exports, it entered into $1 billion of contracts with companies in various countries to purchase huge quantities of Portl...

Q: The Farmer’s Cooperative of Arkansas and Oklahoma (Co-Op)

The Farmer’s Cooperative of Arkansas and Oklahoma (Co-Op) was an agricultural cooperative that had approximately 23,000 members. To raise money to support its general business operations, Co-Op sold p...