Provide examples of responses to ethical issues by business firms, educational institutions, governments, and trade and professional associations.
> Match each of the numbered definitions with the correct term in the following list. a. assets b. bankruptcy c. creditor d. debtor e. default f. insolvency g. involuntary filing h. liabilities i. liquidation j. means test k. priority debt l. reorganizatio
> Match each of the numbered definitions with the correct term in the following list. a. articles of incorporation b. corporation c. duty of care d. duty of loyalty e. partnership f. joint venture g. limited liability company h. limited partnership i. sole
> Match each of the numbered definitions with the correct term in the following list. a. disclaimer b. express warranty c. full warranty d. implied warranty e. limited warranty f. product liability g. custom of the marketplace h. warranty of fitness for a
> Match each of the numbered definitions with the correct term in the following list. a. conditional sales contract b. contract for labor and materials c. contract to sell d. insolvency e. reserve amount f. sale on approval g. sale or return h. title i. st
> Laclede Gas Company purchased propane gas from Amoco Oil Company and sold it to various residential subdivisions. After the contract had been in operation for some time, Amoco refused to supply any more gas. Laclede was unable to find another supplier wi
> Match each of the numbered definitions with the correct term in the following list. a. anticipatory breach b. impossibility of performance c. material alteration d. mitigation e. promissory note f. specific performance g. restraining order or injunction
> Match each of the numbered definitions with the correct term in the following list. a. assignee b. assignment c. assignor d. bankrupt e. delegation f. guarantor g. incidental beneficiary h. novation i. personal-service contract j. third-party beneficiary
> Match each of the numbered definitions with the correct term in the following list. a. administrator b. antenuptial or prenuptial agreement c. auctioneer d. executor e. guaranty f. memorandum g. parol evidence rule h. personal property i. real property j
> Match each of the numbered definitions with the correct term in the following list. a. champerty b. exculpatory clause c. franchisor d. gambling agreement e. government-granted-franchise f. interest g. monopoly power h. restraint of trade i. unlicensed t
> Match each of the numbered definitions with the correct term in the following list. a. abandonment b. age of majority c. contractual capacity d. competent party e. disaffirmance f. emancipation g. incompetence h. minor i. necessaries j. ratification 1.
> Match each of the numbered definitions with the correct term in the following list. a. code of ethics b. stakeholder c. ethics d. morals e. corporate responsibility f. values g. whistleblower 1. An individual person’s beliefs as to what is right and wro
> Using the Internet and search engines, investigate the types of health-related insurance benefits that are available to employees of local and regional employers.
> Using the Internet and search engines, investigate the Environmental Protection Agency. In what types of activities is this federal agency involved?
> In teams of three or four, check labels on various products such as chemicals, cleansers, insecticides, and herbicides. Look for warnings and EPA information. Discuss your findings.
> Using the Internet and search engines, investigate the terms and international organizations discussed in this chapter.
> Bunge, a grain dealer, contracted with Recker, a farmer, to purchase 10,000 bushels of soybeans at $3.35 per bushel. The contract did not specify where the beans were to have been grown, except that they were to be grown in the United States. As a result
> In teams of three or four, interview local small and medium size businesses to learn about the experiences of the interviewees in dealing with various aspects of international law.
> Using the Internet and search engines, investigate a case of professional liability and the basis upon which it was decided.
> Working in teams of three or four, interview local insurance agents and brokers to learn about various forms of insurance, such as life, health, automobile, fire, theft, flood, disability, renter’s, property, key person, casualty, professional liability,
> Using the Internet and search engines, navigate to the websites of several cigarette manufacturers. What warnings regarding tobacco use do these companies provide?
> Using the Internet and search engines, navigate to the web pages of your state to determine the criteria under which a worker may receive unemployment benefits.
> Using the Internet and search engines, visit a website that provides a free download to detect spyware.
> In teams of three or four, draft a federal statute that might be enacted that would address the issue of online gambling. Be certain to include who is covered and what forms of gambling are being regulated.
> Using the Internet and search engines, locate a governmental website that addresses the issue of how to obtain a patent. What information is available on this website? If you had developed or created an invention, would you find the information helpful i
> In teams of three or four, assume that you are the co-owners of a five-star restaurant located in the heart of a large city in the United States. First, draft a clause in a contract that might serve as a restrictive covenant for prospective employees who
> In teams of three or four, investigate whether your local community has a housing or landlord–tenant court. What are some of the disputes decided by this court?
> Phung orally agreed to sell a thoroughbred horse to Presti for $60,000. When Presti sent a check in payment, Phung told him that he intended to hold the check for a month for tax purposes. Phung retained possession of the horse. While the check remained
> Using the Internet and search engines, look for legal cases involving bailments and sample bailment contracts. Identify the types of bailments in such cases and contracts.
> Using the Internet and search engines, investigate Leydon v. Town of Greenwich, 257 Conn. 318 (2001), relating to the Connecticut court’s ruling on a beach access dispute. Discuss the merits of the court’s opinion.
> 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
> 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.
> Describe limited liability companies.
> 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.
