Discuss the following:
Population trends, income levels, and competition are conditions that can affect a firm's performance. All of these conditions are aspects of what?
Identify the crimes and point out the differences in the variations:
1. Chen posing fraudulently as a Diamond Credit Card CO sends an email to Emily stating that the company has observed suspicious activity in her account and has frozen the account. The email asks her to reregister her credit card and password to reopen the account.
2. Claiming falsely to be Big Buy Retail Finance, Conner sends and email to Dino asking him ti confirm and update his personal security information to prevent his Big Buy account from discontinuing.
3. Feliecia posts her resume at GOTWORK.com a job positng site, seeking a position in managerial finance. Hayden, who misrepresents himself as an employer officer with Intl Bank Corp, sends her an email asking her for more personal information.
Which, if any of the following involves illegal activity on the part of more than one person:
Bribery, b) Forgery, c) Embezzlement, d) Larceny, e) Receiving stolen property
1. Rocky Mountain Race sponsors the Pioneer Trail Marathon with an advertised first prize of $10,000. The rules require competitors run 100 miles from the floor of Blackwater Canyon to the top of Pinnacle Mountain. The rules also provide that Rocky reserves the right to change the rules at any time. Monica is declared the winner. Rocky offers her a $1000 prize instead of $10000. Did Rocky and Monica have a contract? Explain.
2. Ralph Ramsey insured his car with Allstate. He also owned a house in which he maintained a homeowner's policy with Allstate. Bank of America held a mortgage on the house and paid the insurance premiums on the homeowner's policy from Ralphs account. After Ralph died Allstate cancelled his auto insurance. Ralphs son Douglas inherited the house. The bank continued to pay the homeowners premiums but from Douglas' account, and Allstate continued to renew the insurance. When a fire destroyed the house, Allstate denied coverage, however claiming that the insurance was in Ralph's name. Douglas filed suit in Federal court against the insurer.
Was Allstate liable under the homeowner's policy?
3. The Caplans contract with Faithful Construction to build a house for them for $360,000. Specifications state that "all plumbing bowls and fixtures... to be Crane brand." Caplans leave on vacation and in their absence Faithful Const. is unable to buy and install Crane fixtures. Instead they install Kohler, an equivalent in the industry. On completion of the building contract, the Caplans inspect the work, discover the substitution, and refuse to accept the house, claiming Faithful has breached the conditions set forth in the specifications. Discuss the Caplans claim.
Discuss which of these contracts are discharged because events render the contracts impossible to perform:
1. Jiminez contracts to perform at your nightclub. He dies prior to performance.
2. Raglione contracts to sell you her land. She dies before the title is transferred.
3. Oppenheim contracts to sell you 1000 bushels of apples from her orchard in Washington. Because of a severe frost she is unable to deliver them.
4. Maxwell contracts to lease a service station for 10 yrs. His principal income is from the sale of gasoline. Because of an oil embargo from foreign nations, gasoline is rationed cutting sharply into his sales. He cannot make his lease payments.
1. Northeast Indep. School Disctrict hired STR Contructors LTD to renovate a middle school. STR subcontracted the title work in the schools kitchen to Newman Title Inc. The project had already fallen behind schedule. As a result, STR allowed other workers to walk over and damage the newly installed tile before it had cured, forcing NTI to constantly redo its work. Despite NTI's request for payment, STR remitted only half the amount due under their contract. When the school district refused to accept the kitchen including the tilework, STR told NTI to quickly make the repairs. A week later STR terminated their contract. Did STR breach the contract with NTI?
2. Moore contracted in writing to sell her 2012 Santa Fe to Hammer for $16,500. Moore agreed to deliver the Santa Fe on Wednesdy and Hammer agreed to pay 16,500 on the following Friday. On Tuesday, Hammer informed Moore that he would not be buying the car after all. By Friday Hammer had changed his mind again and tendered 16,500 to Moore. Moore, although she had not sold the car, refused the tender, and refused to deliver. Hammer claimed that Moore had breached their contract. Moore contended that Hammers repudiation released her from duty to perform under the contract. Who is correct?
3. Padma Paper Mills LTD converts waste paper into reusable paper. 2007 Padma entered into a contract with Universal Exports Inc in which UEI agreed to ship white envelope cuttings and Padma paid 131,000 for the paper. When the shipment arrived, Padma discovered UEI had sent multi colored paper plates and other bright colored paper products. Padma accepted the good but notified UEI that they did not conform to the contract. Can Padma recover even though it accepted the goods knowing they were non conforming? If so, how?
4. What is revocation acceptance? How does a buyer effectively exercise this option.
5. Is there an ethical basis for allowing a buyer to revoke acceptance of goods and recover damages. If so, is there an ethical limit to this right?