Describe limited liability companies.
> Working in teams of three or four, interview personnel at your local bank to describe the circumstances under which the bank might refuse to cash a check drawn on an account held at the bank.
> Using the Internet and search engines, investigate “contract of agency” and identify key terms in such a contract.
> Using the Internet and search engines, find examples of warranties that are covered by the Magnuson-Moss Warranty Act. Evaluate whether the warranty is a full or limited warranty and whether it meets the standards required by that act.
> In teams of three or four, interview owners or managers of small businesses to determine how their sales contracts address returns, delivery, and remedies for breach.
> Using the Internet and search engines, find an instrument of title, such as a bill of sale, bill of lading, or warehouse receipt.
> Using the Internet and search engines, investigate the Federal Trade Commission’s website to learn when contracts may be terminated to protect the consumer.
> In teams of three or four, interview owners or managers of small businesses to learn some typical contracts in which the firms have been involved and how they were terminated.
> Using the Internet and search engines, investigate typical regulations or legislation that governs the assignment of certain contracts. What are some types of contracts typically controlled?
> Marti, the owner of an expensive sports car, agreed in writing to sell the car to Berini. Because both parties recognized that some necessary engine repairs were needed, their contract did not specify the sales price, intending to determine the cost of r
> Use the Internet and search engines to investigate the Sherman Antitrust Act and the Robinson-Patman Act and the various prosecutions under each.
> In teams of three or four, interview several owners or managers of small businesses. Ask these individuals whether there are legal obstacles that make it more difficult for their businesses to earn a profit.
> In teams of three or four, interview several small businesses to learn some of the steps businesspersons routinely follow to avoid problems involving contracts.
> In teams of three or four, interview the owners or managers of small businesses to determine the levels of laws—federal, state, or local—to which the firm is subject. Further, ask the interviewee to provide examples.
> Using the Internet and search engines, investigate a case involving negligence.
> Small and medium-sized businesses are often concerned with crimes that could affect the firm. In teams of three or four, interview one or several business owners or managers and ask them to briefly describe the kinds of crimes they are concerned about an
> In teams of three or four, interview several property/casualty insurance agents or claims adjusters (as distinguished from life or health insurance personnel) to learn more about claims filed against small businesses for negligence or other torts. Ask wh
> In teams of three or four, interview several retailers of home appliances or furnishings to determine how they ascertain the age of customers who wish to enter into an installment contract for purchases.
> Using the Internet and search engines, investigate “unconscionable contracts”; then, with additional research, find examples of existing legislation in several jurisdictions that concern such contracts. Share your findings with the class.
> In teams of three or four, visit local dry cleaning establishments, movie theaters, or parking garages. Ask them to allow you to view their receipts, and identify terms that might be viewed as contracts of adhesion.
> Ortelere, a retired teacher, had built up a substantial amount of funds in her retirement plan before she retired because of “involutional psychosis” (a form of mental illness). She had previously specified that a lowered monthly retirement benefit would
> Provide examples of responses to ethical issues by business firms, educational institutions, governments, and trade and professional associations.
> Using the Internet and search engines, locate web pages that offer goods and services for sale and that specify time periods during which such offers must be accepted.
> Using the Internet and search engines, locate the website of one of the administrative agencies that affect the lives of individuals and businesses in your community. Identify the kinds of services provided to the community.
> Working in teams of three or four, interview officials or supervisors of some department or agency of municipal government—such as the department of weights and measures or board of health. The following are topics that might be included in the interview
> Using the Internet and search engines, find information about the Securities and Exchange Commission’s program to reward individuals who blow the whistle on securities fraud. Report on the program itself as well as the responses to the program.
> In teams of three or four, interview managers of local businesses. Ask them if they have ever provided a negative reference for a former employee.
> Describe computer crime and identify ways in which the unauthorized access to computers invites violations of rights.
> Explain the challenges associated with applying patent requirements to computer hardware and software.
> Identify the requirements for obtaining a patent.
> Discuss intellectual property and explain how such is protected.
> Explain how a will is revised or revoked.
> Staples, following extensive injuries in an automobile accident, was declared mentally incompetent. He imagined himself to be in command of a large army engaged in protecting the country against an invasion. He ordered several large tents, sleeping bags,
> Discuss the types of gifts covered by a will.
> Identify the purpose of a will.
> Explain how liability is determined and whether the landlord or tenant is likely to be found liable.
> Explain several reasons for termination of leases.
> Discuss the characteristics of bailments, including the six typical reasons for transferring goods and creating a bailment.
> Define and explain the purpose of a bailment.
> Distinguish between real and personal property.
> Describe when commercial paper is deemed dishonored.
> Explain when presentment of commercial paper occurs.
> Identify the purpose of endorsing commercial paper.
> Forrer was an employee of Sears for many years. He eventually left because of health problems and began operating a farm. Sears persuaded Forrer to return to work on a part-time basis, and about one month later promised permanent employment if Forrer gav
> List and explain the nonessentials for negotiability of commercial paper.
> Identify the parties to commercial paper.
> Distinguish between the two basic kinds of commercial paper: promises to pay (notes) and orders to pay (checks and drafts).
> Distinguish between voluntary filing and involuntary filing in bankruptcy.
> Explain the conditions under which individuals and businesses become insolvent and default on their loans.
> Identify organizational forms that are not business entities.
> Identify the business organizational forms available in the United States whose purpose is to earn a profit.
> Differentiate between the principal–agent and employer–employee relationship.
> Explain how an agency may be terminated.
> Jackson, a widow who was desperate for money, sold land to her brother, Seymour, for $275. Later Seymour found valuable timber on the land and sold some of it for $2,353. When Jackson realized that the property was worth much more than she had originally
> Discuss the four ways in which an agency may be created.
> Classify the two major kinds of agents.
> Describe the principal–agent relationship.
> Explain the provisions of the Magnuson-Moss Warranty Act.
> Identify the three kinds of implied warranties.
> Identify the four kinds of express warranties.
> Identify the various provisions of the law that protect consumers and third parties who suffer physical injuries or financial losses.
> Discuss auction sales and conditional sales.
> Describe the special requirements of contracts for labor and materials.
> Discuss the difference between entire and divisible contracts.
> Without first obtaining the required marriage license, Evelyn and Joseph Carabetta were married in a religious ceremony. Thereafter, they lived together as husband and wife. They raised four children, all of whose birth certificates listed Joseph Carabet
> Identify the classifications of sales contracts, including oral, written, express, and implied.
> Distinguish between a contract for sale and a contract to sell.
> Discuss the concept of title in relation to the law of sales.
> Describe the passage of title to fungible goods.
> Discuss sales by persons with possession of, but not title to, goods.
> Define conditional sales and identify the two types of conditions found in contracts for conditional sales.
> Explain when title to goods passes.
> Distinguish between the two main types of property, and indicate which one is subject to the law of sales.
> Explain how title and certificates of title relate to the concept of ownership.
> Discuss the remedies for breach of contract, and provide examples of situations that would be appropriate for each remedy.
> William Storey Sr. promised his nephew, William Storey II, that he would pay him $5,000 if his nephew avoided drinking, using tobacco, swearing, and playing cards and billiards for money until he became 21 years old. The nephew agreed to the offer and ke
> Identify the circumstances under which a contract would be terminated by operation of law.
> Describe when termination by alteration occurs.
> Explain termination by impossibility of performance.
> Identify seven ways in which a contract may be terminated.
> Provide examples of contracts that may be assigned by a court of law.
> Explain the legal concept of delegation of duties.
> Identify three kinds of contracts that may not be assigned.
> Interpret the legal concept of assignment of rights.
> Identify two instances in which a contract may involve third parties.
> Discuss the Statute of Frauds.
> Esposito hired Excel Construction Company to repair a porch roof for $625 while she was out of town on vacation. All terms of the agreement were specified in a written contract, but the agreement failed to specify whether it was the front or rear porch t
> Explain how the parol evidence rule affects the addition of supplementary provisions to a written contract.
> Describe the requirement of proper form of contracts, and name instances when contracts (a) should not be in writing, (b) should be in writing, and (c) must be in writing.
> Explain the provisions of two major laws governing illegal restraint of trade: the Sherman Antitrust Act and the Robinson-Patman Act.
> Identify four kinds of agreements that are in violation of public policy.
> Identify four kinds of agreements that are in violation of statutes.
> Assess the legal status of contracts made by persons who are incompetent.
> Explain what is meant by contractual capacity and define competent parties.
> Identify four kinds of agreements that lack consideration.
> Define the term general release.
> Define unconscionable contracts.
> While in the custody of the New Castle Youth Development Center (YDC), 17-year-old Betts suffered a tragic spinal cord injury while attempting to make a tackle during a football game. Following the injury, Betts sued YDC and several of its staff members,
> Define undue influence and explain its impact upon the validity of a contract.
> Explain the concept of mistake in the eyes of the law.
> Explain misrepresentation and how it differs from fraud.
