Questions from Business Law

Q: International Business Machines Corp. (IBM) hired Niels Jensen in

International Business Machines Corp. (IBM) hired Niels Jensen in 2000 as a software sales representative. According to the brochure on IBM’s “Sales Incentive Plan” (SIP), “the more you sell, the more...

Q: Claudia Aceves borrowed from U.S. Bank to buy a

Claudia Aceves borrowed from U.S. Bank to buy a home. Two years later, she could no longer afford the monthly payments. The bank notified her that it planned to foreclose on her home. (Foreclosure is...

Q: Farrokh and Scheherezade Sharabianlou signed a purchase agreement to buy a building

Farrokh and Scheherezade Sharabianlou signed a purchase agreement to buy a building owned by Berenstein Associates for $2 million. They deposited $115,000 toward the purchase. Before the deal closed,...

Q: PRM Energy Systems owned patents licensed to Primenergy to use in the

PRM Energy Systems owned patents licensed to Primenergy to use in the United States. Their contract stated that “all disputes” would be settled by arbitration. Kobe Steel of Japan was interested in us...

Q: Leonard Kranzler loaned Lewis Saltzman $100,000. Saltzman made

Leonard Kranzler loaned Lewis Saltzman $100,000. Saltzman made fifteen payments on the loan, but this did not repay the entire amount. More than ten years after the date of the loan, but less than two...

Q: Arkansas Missouri Forest Products, LLC (Ark-Mo), sells

Arkansas Missouri Forest Products, LLC (Ark-Mo), sells supplies to make wood pallets. Blue Chip Manufacturing (BCM) makes pallets. Mark Garnett, an owner of Ark-Mo, and Stuart Lerner, an owner of BCM,...

Q: Brendan Coleman created and marketed Clinex, a soft Brendan Coleman created

Brendan Coleman created and marketed Clinex, a soft Brendan Coleman created and marketed Clinex, a soft Brendan Coleman created and marketed Clinex, a software billing program. Later, Retina Consultan...

Q: Ricky and Sherry Wilcox hired Esprit Log and Timber Frame Homes to

Ricky and Sherry Wilcox hired Esprit Log and Timber Frame Homes to build a log house, which the Wilcoxes intended to sell. They paid Esprit $125,260 for materials and services. They eventually sold th...

Q: Randy Jones is an agent for Farmers Insurance Co. of Arizona

Randy Jones is an agent for Farmers Insurance Co. of Arizona. Through Jones, Robert and Marcia Murray obtained auto insurance with Farmers. On Jones’s advice, the Murrays increased the policy’s limits...

Q: Evangel Temple Assembly of God leased a facility from Wood Care Centers

Evangel Temple Assembly of God leased a facility from Wood Care Centers, Inc., to house evacuees who had lost their homes in Hurricane Katrina. One clause in the lease contract said that Evangel could...