Questions from Business Law

Q: Gary Mendel drew up a will in which he left his favorite

Gary Mendel drew up a will in which he left his favorite car, a 1966 red Ferrari, to his daughter, Roberta. A year prior to his death, Mendel sold the 1966 Ferrari and purchased a 1969 Ferrari. Discus...

Q: David Gain was the chief executive officer (CEO) of Forest

David Gain was the chief executive officer (CEO) of Forest Media Corp., which became interested in acquiring RS Communications, Inc. To initiate negotiations, Gain met with RS’s CEO, Gill Raz, on Frid...

Q: Larkin, Inc., retains Howard Patterson to manage its books and

Larkin, Inc., retains Howard Patterson to manage its books and prepare its financial statements. Patterson, a certified public accountant, lives in Indiana and practices there. After twenty years, Pat...

Q: Allitron, Inc., and Donovan, Ltd., are interstate competitors

Allitron, Inc., and Donovan, Ltd., are interstate competitors selling similar appliances, principally in the states of Illinois, Indiana, Kentucky, and Ohio. Allitron and Donovan agree that Allitron w...

Q: Atka owns a valuable speedboat. She is going on vacation and

Atka owns a valuable speedboat. She is going on vacation and asks her neighbor, Regina, to store the boat in one stall of Regina’s double garage. Regina consents, and the boat is moved into the garage...

Q: Orlando borrows a gasoline driven lawn edger from his neighbor, Max

Orlando borrows a gasoline driven lawn edger from his neighbor, Max. Max has not used the lawn edger for two years. Orlando has never owned a lawn edger and is not familiar with its use. Max previousl...

Q: Madison owned a tract of land, but he was not sure

Madison owned a tract of land, but he was not sure that he had full title to the property. When Rafael expressed an interest in buying the land, Madison sold it to Rafael and executed a quitclaim deed...

Q: James owns a three-story building. He leases the ground

James owns a three-story building. He leases the ground floor to Juan’s Mexican restaurant. The lease is to run for a five-year period and contains an express covenant of quiet enjoyment. One year lat...

Q: In early 2014, Bennett, Inc., offered a substantial number

In early 2014, Bennett, Inc., offered a substantial number of new common shares to the public. Harvey Helms had a long-standing interest in Bennett because his grandfather had once been president of t...

Q: Patrick contracts with an Ajax Insurance Co. agent for a $

Patrick contracts with an Ajax Insurance Co. agent for a $50,000 ordinary life insurance policy. The application form is filled in to show Patrick’s age as thirty-two. In addition, the application for...