How should the financial interests of stockholders be balanced with the varied interests of stakeholders? If you were writing a code of conduct for your company, how would you address this issue?
> On December 2, 2021, Miles executed and delivered to Proctor a negotiable promissory note for $1,000, payable to Proctor or order, due March 2, 2022, with interest at 14 percent from maturity, in partial payment of a printing press. On January 3, 2022, P
> Adams, by fraudulent representations, induced Barton to purchase one hundred shares of the capital stock of the Evermore Oil Company. The shares were worthless. Barton executed and delivered to Adams a negotiable promissory note for $5,000, dated May 5,
> McLaughlin borrowed $10,000 from Adler, who, apprehensive about McLaughlin’s ability to pay, demanded security. McLaughlin indorsed and delivered to Adler a negotiable promissory note executed by Topping for $12,000 payable to McLaughlin’s order in twelv
> On January 2, 2021, seventeen-year-old Martin paid $2,000 for a used motorboat to use in his fishing business, after Dealer’s fraudulent misrepresentation of the condition of the boat. Martin signed an installment contract for $1,500, and gave Dealer the
> Adams, who reads with difficulty, arranged to borrow $2,000 from Bell. Bell prepared a note, which Adams read laboriously. As Adams was about to sign it, Bell diverted Adams’s attention and substituted the following paper, which was identical to the note
> Roy Rand executed and delivered the following note to Sue Sims: “Chicago, Illinois, June 1, 2021; I promise to pay to Sue Sims or bearer, on or before July 1, 2021, the sum of $7,000. This note is given in consideration of Sims’s transferring to the unde
> The following instrument was given to Matthew Andrea: Chapel Hill, N.C. April 15, 2021 Ninety days after date pay to the order of Matthew Andrea, seven hundred and fifty dollars ($750). Value received and charge the trade account of Olympia Sales Corp.,
> On July 31, Amanda Vaughn and Jason Vaughn accompanied their mother, Emma Simpson Vaughn, to a Walmart store. Amanda’s friend, Kimberly Dickerson, was also with them. Once they entered the store, Mrs. Vaughn and Jason went into separate areas of the stor
> Explain whether the following instrument is negotiable. March 1, 2021 One month from date, I, James Jimson, hereby promise to pay Edmund Edwards: Six thousand, Seven hundred Fifty ($6,750.00) dollars, plus 4 3/4% interest. Payment for cutting machines to
> Sam Sharpe executed and delivered to Don Dole the following instrument: Knoxville, Tennessee May 29, 2021 Thirty days after date I promise to pay Don Dole or order, Five Thousand Dollars. The holder of this instrument shall have the election to require t
> For the balance due on the purchase of a tractor, Henry Brown executed and delivered to Jane Jones his promissory note containing the following language: January 1, 2021, I promise to pay to the order of Jane Jones the sum of $7,000 to be paid only out o
> Henry Hughes, who operates a department store, executed the following instrument: $2,600 Chicago, March 5, 2021 On July 1, 2021, I promise to pay Daniel Dalziel, or order, the sum of Twenty-Six Hundred Dollars for the privilege of one framed advertising
> On March 10, Tolliver Tolles, also known as Thomas Towle, delivered to Alonzo Craig and Abigail Craig the following instrument, written by him in pencil: For value received, I, Thomas Towle, promise to pay to the order of Alonzo Craig or Abigail Craig On
> State whether the following provisions in a note impair or preclude negotiability, the instrument in each instance being otherwise in proper form. Answer each statement with the word Negotiable or Nonnegotiable and explain why. a. A note signed by Henry
> State whether the following provisions impair or preclude negotiability, the instrument in each instance being otherwise in proper form. Answer each statement with either the word “Negotiable” or “Nonnegotiable” and explain why. a. A note for $2,000 paya
> On December 15, Judy wrote a letter to David stating that she would sell to David all of the mine-run coal that David might wish to buy during the next calendar year for use at David’s factory, delivered at the factory at a price of $30 per ton. David im
> Mae contracted to sell one thousand bushels of wheat to Lloyd at $5 per bushel. Just before Mae was to deliver the wheat, Lloyd notified her that he would not receive or accept the wheat. Mae sold the wheat for $4.60 per bushel, the market price, and lat
> Brilles offered to sell his used automobile to Nevarro for $12,600 cash. Nevarro agreed to buy the car, gave Brilles a check for $12,600, and drove away in the car. The next day Nevarro sold the car for $13,000 to Hough, a bona fide purchaser. The $12,60
> The Brineys (defendants) owned a large farm on which was located an abandoned farmhouse. For a ten-year period the house had been the subject of several tres passings and housebreakings. In an attempt to stop the intrusions, Briney boarded up the windows
> Garvey owned four speedboats named Porpoise, Priscilla, Providence, and Prudence. On April 2, Garvey made written offers to sell the four boats in the order named for $14,200 each to Caldwell, Meens, Smith, and Braxton, respectively, allowing ten days fo
> Gardner owned a quantity of corn, which was contained in a corncrib located on Gardner’s farm. On March 12, Gardner wrote a letter to Bassett stating that he would sell to Bassett all of the corn in this crib, which he estimated at between nine hundred a
> Seller had manufactured forty thousand pounds of plastic resin pellets specially for the buyer, who agreed to accept them at the rate of one thousand pounds per day upon his issuance of shipping instructions. Despite numerous requests by the seller, the
> Johnson, who owned a hardware store, was indebted to Hutchinson, one of her suppliers. Johnson sold her business to Lockhart, one of Johnson’s previous competitors, who combined the inventory from Johnson’s store with his own and moved them to a new, lar
> Yount told Lewis he wished to buy Lewis’s automobile. He drove the car for about ten minutes, returned to Lewis, stated he wanted to take the automobile to show it to his wife, and then left with the automobile and never returned. Yount sold the automobi
> Explain how the result in Question 3 might change if the U.S. Electronics form contained any of the following provisions: a. “The seller’s acceptance of the purchase order to which this acknowledgment responds is expressly made conditional on the buyer’
> Browne & Assoc., a San Francisco company, orders from U.S. Electronics, a New York company, ten thousand electronic units. Browne & Assoc.’s order form provides that any dispute would be resolved by an arbitration panel located in San Francisco. U.S. Ele
> In Question 1, explain what effect, if any, would the fol- lowing letter have? International Widget: In accordance with our agreement of this date, you will deliver the one thousand previously ordered widgets within thirty days. Thank you for your cooper
> Adams orders one thousand widgets at $5 per widget from International Widget to be delivered within sixty days. After the contract is consummated and signed, Adams requests that International deliver the widgets within thirty days rather than sixty days.
> In October 2015, Black, the owner of the Grand Opera House, and Harvey entered into a written agreement leasing the Opera House to Harvey for five years at a rental of $300,000 per year. Harvey engaged Day as manager of the theater at a salary of $1,175
> Webster, Inc., dealt in automobile accessories at whole- sale. Although he manufactured a few items in his own factory, among them windshield wipers, Webster purchased most of his inventory from a large number of other manufacturers. In January, Webster
> In March, William Proxmire, a U.S. senator from Wisconsin, initiated the “Golden Fleece of the Month Award” to publicize what he believed to be wasteful government spending. The second of these awards was given to the Federal agencies that had for seven
> Rachel bought a car from the Beautiful Used Car Agency under a written contract. She purchased the car in reliance on Beautiful’s agent’s oral representations that it had never been in a wreck and could be driven at least two thousand miles without addin
> Grant leased an apartment to Epstein for the term May 1, at $750 a month “payable in advance on the first day of each and every month of said term.” At the time the lease was signed, Epstein told Grant that he received his salary on the tenth of the mont
> Clay orally promises Trent to sell him five crops of potatoes to be grown on Blackacre, a farm in Minnesota, and Trent promises to pay a stated price for them on delivery. Is the contract enforceable? Explain.
> In a contract drawn up by Booke Company, it agreed to sell and Yermack Contracting Company agreed to buy wood shingles at $950 per bunch. After the shingles were delivered and used, Booke Company billed Yermack Company at $950 per bunch of nine hundred s
> Daniel, while under the influence of alcohol, agreed to sell his used automobile to Belinda for $13,000. The next morning, when Belinda went to Daniel’s house with the $13,000 in cash, Daniel stated that he did not remember the transaction but that “a de
> Ira, who in 2017 had been found innocent of a criminal offense because of insanity, was released from a hospital for the criminally insane during the summer of 2018 and since that time has been a reputable and well-respected citizen and businessperson. O
> On October 1, George Jones entered into a contract with Johnson Motor Company, a dealer in automobiles, to buy a used car for $10,850. He paid $1,100 down and, under the agreement, was to make monthly payments thereafter of $325 each. Jones was seventeen
> On May 7, Roy, a minor, a resident of Smithton, purchased an automobile from Royal Motors, Inc., for $18,750 in cash. On the same day, he bought a motor scooter from Marks, also a minor, for $750 and paid him in full. On June 5, two days before attaining
> Jones, a minor, owned a 2019 automobile. She traded it to Stone for a 2020 car. Jones went on a three-week trip and found that the 2020 car was not as good as the 2019 car. She asked Stone to return the 2019 car but was told that it had been sold to Tate
> Consider the same facts as in Question 8, but assume that the price was $350. Benson, nevertheless, wishes to avoid the contract based on the allegation that Carl befriended and tricked him into the purchase. Discuss.
> Plaintiff, John W. Carson, was the host and star of The Tonight Show, a well-known television program broad- cast by the National Broadcasting Company. Carson also appeared as an entertainer in nightclubs and theaters around the country. From the time he
> Carl, a salesman for Smith, comes to Benson’s home and sells him a complete set of “gourmet cooking utensils” that are worth approximately $300. Benson, an eighty year-old man living alone in a one-room efficiency apartment, signs a contract to buy the u
> On April 30, 2019, Barack and Donald entered into a bet on the outcome of the 2019 Kentucky Derby. On January 28, 2020, Barack, who bet on the winner, approached Donald, seeking to collect the $3,000 Donald had wagered. Donald paid Barack the $3,000 wage
> The Dear Corporation was engaged in the business of making and selling harvesting machines. It sold everything pertaining to its business to the ABC Company, agreeing “not again to go into the manufacture of harvesting machines anywhere in the United Sta
> Anthony promises to pay McCarthy $10,000 if McCarthy informs the public that Washington is a Communist. Washington is not a Communist and never has been. McCarthy successfully persuades the media to report that Washington is a Communist and now seeks to
> Makayla was a Java programmer employed with Sun Microsystems in Palo Alto, California. Upon beginning employment, Makayla signed a contract that included a noncompete clause that prevented her, within three months of terminating her employment, from taki
> A company prohibits any employee from making disparaging comments about the company through any social media—including online blogs, email, tweets, and other electronic media. Violation of this rule is grounds for dismissal. Explain whether this rule is
> A company adopts a policy that (a) prohibits romantic relationships between employees of different ranks and (b) permits romantic relationships between employees of the same rank only if both employees waive in writing their rights to sue the company sh
> Explain what relevance ethics has to business.
> You are a project manager for a company making a major proposal to a Middle Eastern country. Your major competition is from Japan. a. Your local agent, who is closely tied to a very influential sheikh, would receive a 5 percent commission if the proposal
> On February 10, Kelm secured a loan for $6,000 from Ms. Joan Williams. Kelm told Williams that the loan was to finance a real estate transaction. Five days later, Ms. Williams received a check drawn by Kelm in the amount of $6,000 from Kelm’s attorney. A
> a. Ann owed $2,500 to Barry for services Barry rendered to Ann. The debt was due June 30, 2019. In March 2020, the debt was still unpaid. Barry was in urgent need of ready cash and told Ann that if she would pay $1,500 of the debt at once, Barry would re
> Negligent in failing to give warning of the approach of its train to a crossing, CC Railroad thereby endangers Larry, a blind man who is about to cross. Mildred, a bystander, in a reasonable effort to save Larry, rushes onto the track to push Larry out o
> Willie Mae Arant executed her Last Will and Testament in her home with two witnesses present. The original will could not be found after Arant’s death, so a copy of the will was filed and admitted in Probate Court. The will left the bulk of the estate to
> By his last will and testament, Henry Nussbaum made a residual bequest and devise of his estate to his niece, Jane Blair, as trustee, in trust for the education of his grandchildren. If the trust could not be fulfilled, the residue was to revert to the p
> Rodney Sharp was a fifty-six-year-old dairy farmer whose education did not go beyond the eighth grade. Upon the death of his wife of thirty-two years, Sharp developed a very close relationship with Jean Kosmalski, a schoolteacher sixteen years his junior
> In May 2011, Fred Parramore executed four deeds, each conveying a life estate in his land to him and his wife and a remainder interest in one-fourth of his land to each of his four children: Alney, Eudell, Bernice, and Iris. Although Fred executed and ac
> Barba & Barba Construction, Inc., constructed a multilevel addition to a single-family house in Glenview, Illinois. Before the addition, the residence consisted of approximately 2,300 square feet. After the addition, the house consisted of approximately
> Sam and Eleanor Gaito purchased a home from Howard Frank Auman, Jr., in the spring of 2018. Auman had completed the construction of the house in November 2013. In the interim, three different parties had lived in the house for brief periods, but Auman ha
> The Gerwitz family resides on a piece of land known as Lot #24 of the Belleville tract, which they acquired by deed in 2002. Shortly thereafter, the Gerwitzes began to use the adjacent vacant Lot #25. At various times, they planted grass seed, flowers, a
> Fay and Loretta O’Connell were married and owned several bank accounts as joint tenants with rights of survivorship. While accompanied by Loretta’s sister, Mary Ann, Fay went to the banks where Fay and Loretta had joint accounts and withdrew all the fund
> A Massachusetts statute established differential methods by which wineries may distribute wines in Massachusetts. The statute allows only “small” wineries, defined as those producing 30,000 gallons or less of grape wine a year, to obtain a “small winery
> On January 14, 2017, Eura Mae Redmon deeded land to her daughter, Melba Taylor, and two sons, W. C. Sewell and Billy Sewell, “jointly and severally, and unto their heirs, assigns and successors forever,” with the grantor retaining a life estate. W. C. Se
> Clayton and Margie Gulledge owned a house at 532 Somerset Place, N.W. (the Somerset property) as ten- ants by the entirety. They had three children: Bernis Gulledge, Johnsie Walker, and Marion Watkins. When Margie Gulledge died in 1994, Clayton became th
> Robert and Majorie Wake owned land that they used as both a cattle ranch and a farm. Each spring and autumn, the Wakes would drive their cattle from the ranch portion of the operation across an access road on the farm- land to Butler Springs, which was a
> In 1978, a deed for land in Pitt County was executed and delivered by Joel and Louisa Tyson “unto M. H. Jackson and wife Maggie Jackson, for and during the term of their natural lives and after their death to the children of the said M. H. Jackson and Ma
> On January 1, Mrs. Irene Kern leased an apartment from Colonial Court Apartments, Inc., for a one-year term. When the lease was entered into, Mrs. Kern asked for a quiet apartment, and Colonial assured her that the assigned apartment was in a quiet, well
> In 1993, Ogle was the owner of two adjoining lots numbered 6 and 7 fronting at the north on a city street. In that year, she laid out and built a concrete driveway along and two feet in front of what she erroneously believed to be the west boundary of lo
> Francis B. Freeman, Jr., purchased a cattle scale for $11,000. The scale, which weighs approximately six thousand five hundred pounds, was sold as a portable model. The manufacturer sold additional items that permitted the scale to be moved. Freeman did
> David E. Ross, his two brothers, and their families operated and owned the entire stock of five businesses. Ross had three children: Rod, David II, and Betsy. David II and Betsy were not involved in the operation of the companies, but Rod began working f
> American Rice, Inc. (“ARI”), is a Houston-based company that exports rice to foreign countries, including Haiti. Rice Corporation of Haiti (“RCH”), a wholly owned subsidiary of ARI, was incorporated in Haiti to represent ARI’s interests and deal with thi
> On October 20, 1999, a group of nineteen private organizations filed a rulemaking petition asking the Environmental Protection Agency (EPA) to regulate greenhouse gas emissions from new motor vehicles under the Clean Air Act. Fifteen months after the pet
> American Express Travel Related Services (“Amex”) sells Amex Travelers Cheques (“TCs”), which are preprinted checks for specified amounts with a unique serial number and no expiration date. Amex is able to sell TCs for their face value because Amex's con
> Holtz Rubenstein Reminick, CPAs, audited year-end financial statements of Quality Food Brands, Inc., and related companies. Signature Bank, relying upon the audited financial reports prepared by Holtz Rubenstein Reminick, extended a term note to Quality
> Between December 4 and December 17, John Malone, a director and large shareholder of Discovery Communications, Inc., engaged in sales of Discovery’s “Series C” stock totaling 953,506 shares and purchases of Discovery’s “Series A” stock totaling 632,700 s
> Ella Williams began working at Toyota’s automobile manufacturing plant in Georgetown, Kentucky, in August 2010. She was placed on an engine fabrication assembly line, where her duties included work with pneumatic tools. Use of these tools eventually caus
> During the years prior to the passage of the Civil Rights Act of 1964, Duke Power openly discriminated against African Americans by allowing them to work only in the labor department of the plant’s five departments. The highest-paying job in the labor de
> Ian Eisenberg and Chris Hebard formed Electronic Publishing Ventures, LLC (EPV) and its four subsidiaries: Cyberspace.com, LLC; Essex Enterprises, LLC; Surfnet Services, LLC; and Splashnet.net, LLC. Two offshore entities, French Dreams Investments, N.V.
> Lavon Phillips became engaged to marry Sarah Grendahl and moved in with her. Sarah’s mother, Mary, became suspicious that Phillips was not telling the truth about his past, particularly about whether he was an attorney and where he had worked. She also w
> The Federal Trade Commission (FTC) ordered Warner-Lambert to cease and desist from advertising that its product, Listerine antiseptic mouthwash, prevents, cures, or alleviates the common cold and sore throats. The order further required Warner-Lambert to
> Carolinian is a closely held, manager-managed limited liability company organized under the laws of South Carolina. Carolinian owns and manages various hotel and rental properties in South Carolina. In February 2018, the Levys obtained a judgment against
> Namvar Taghipour, Danesh Rahemi, and Edgar Jerez formed a limited liability company to purchase and develop a parcel of real estate. The LLC’s articles of organization designated Jerez as the LLC’s manager. In addition, the written operating agreement am
> In January, Dr. Vidricksen contributed $250,000 to become a limited partner in a Chevrolet car agency business with Thom, the general partner. Articles of limited partnership were drawn up, but no effort was made to comply with the State's statutory requ
> Llexcyiss Omega and D. Dale York, both residents of Indiana, jointly listed a Porsche automobile for sale on eBay, a popular auction website. The listing stated that the vehicle was located in Indiana and that the winning bidder would be responsible for
> Ed O’Bannon, a highly talented former basketball player at UCLA, alleges an antitrust violation based on the premise that current and former NCAA men’s basketball and Division I-A football players should be allowed to sell the rights to their name, image
> In 1923, DuPont was granted the exclusive right to make and sell cellophane in North America. In 1927, the company introduced a moisture-proof brand of cellophane that was ideal for various wrapping needs. Although more expensive than most competing wrap
> The National Collegiate Athletic Association (NCAA) adopted a plan for televising college football games to reduce the adverse effect of television coverage on spectator attendance. The plan limited the total number of televised intercollegiate football
> Bernard L. Bilski and Rand A. Warsaw sought patent protection for a claimed invention that explains how buyers and sellers of commodities in the energy market can protect, or hedge, against the risk of price changes. Claim 1 describes a series of steps i
> Robert Marrama filed a voluntary bankruptcy petition under Chapter 7. In the filing, Marrama made a number of statements about his principal asset, a house in Maine, which were misleading or inaccurate. He reported that he was the sole beneficiary of the
> Krieger is a 53-year-old woman who has not held a job in more than twenty-five years. Prior to that period, she did not earn more than $12,000 a year in her working career. Krieger is living with her mother, age seventy-five, in a rural community where f
> A landlord owned several residential properties, one of which was subject to a local rent control ordinance. The local rent control administrator determined that the landlord had been charging rents above the levels permitted by the ordinance and ordered
> On December 17, ZZZZ Best Co., Inc. (the debtor) borrowed $7 million from Union Bank (the bank). On July 8 of the following year, the debtor filed a voluntary petition for bankruptcy under Chapter 7. During the preceding ninety days, the debtor had made
> Yolanda Christophe filed a bankruptcy petition under Chapter 13. Her scheduled debts consist of $11,100 of secured debt, $9,300 owed on an unsecured student loan, and $6,960 of other unsecured debt. Christophe asserts that the student loan is nondischarg
> David files a bankruptcy petition under Chapter 13. After the claims of secured and priority creditors have been satisfied, David’s remaining bankruptcy estate has a value of $100,000. David’s creditors with allowed unsecured claims are owed $250,000 in
> Eddie Lee Howard and Shane D. Schneider worked for Nitro-Lift Technologies LLC. As a condition of employment, they entered into confidentiality and noncompetition agreements that contained a clause requiring any dispute between Nitro-Lift and its employe
> Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy Code on September 30, 2021. Conn listed BancOhio National Bank as having a claim incurred in October 2020 in the amount of $4,000 secured by an eight-year-old automobile. The car i
> Landmark at Plaza Park, Ltd., filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. Land- mark is a limited partnership whose only substantial asset is a two-hundred-unit garden apartment complex. City Federal holds the first mortgage o
> In July 2020, Edward Slater purchased a new Galaxy boat primarily for personal purposes. To finance the purchase, Slater obtained a loan from Howell State Bank, agreeing to repay the loan in ninety-six monthly installments of $151.41. The Galaxy boat was
> Standridge purchased a Chevrolet automobile from Billy Deavers, an agent of Walker Motor Company. According to the sales contract, the balance due after the trade-in allowance was $282.50, to be paid in twelve weekly installments. Standridge claims that
