Part A-
1. How do law and ethics intertwine?
2. Big Power has generation plants all over the United States and around the globe. Although it complies with the minimum environmental standards required by the governments where it operates, there are still questions of whether the plants are harming the environment. You are the president of Big Power. You have just received an internal report that your legal compliance, the plants are, in fact, damaging the environment. To alter the plant's emissions would cost the company a great deal of money and jobs. Discuss how you would analyze the decision you must make under each theory of social responsibility.
Part B-
1. (a) Define a contract. (b) List the four (4) elements necessary to form a valid contract.
2. List and explain the seven (7) different types of contracts.
3. Describe and distinguish among valid, void, voidable, and unenforceable contracts.
4. An agreement requires an offer and an acceptance. (a) Define an offer and an acceptance. (b) What are the seven (7) means by which an offer can be terminated?
Part C-
1. What is contractual capacity?
2. Catherine was a loan officer who needed one last loan to make her quota for the month. Yvonne, who was only a freshman in college, walked in one day for a loan for a new software business she was starting. She had never dealt with banks before and did not understand the nuances of loans but asked very good questions. Catherine, however, was ruthless and intentionally did not answer the questions accurately. Had Yvonne received accurate answers to her questions, she would not have taken the loan. After six months, Yvonne defaulted on the loan, and the bank pursued her for payment. Does Yvonne have any remedies? If so, what are they?
3. (a) What is the Statute of Frauds. (b) List the four (4) contracts that must be in writing under the Statute of Frauds.