Identifying the appropriate laws and legal theories


Can you please help me with the attached case study? This was due last week and I got almost all of the questions wrong or marked as incomplete.

Assignment: Using the scenario, give detailed answers (identifying the appropriate laws and legal theories) to the following questions.

Scenario: Collect Sports (CS) is a sport memorabilia store in Any State, U.S.A. CS sells sports trading cards and autographed photos, baseballs, bats, footballs, jerseys and other sports equipment and clothing. Paul Smith is the owner. Mary and Steve are employees. Mark is a 16 year old student who works part-time at the store during the school year and full-time during the summer.

1. CS ran an ad promoting autographed baseball bats for $35. Bill read the ad and went to CS to purchase a $35 bat; however, Bill was told that there weren't any $35 bats. Steve told Bill that CS did have signed bats for $55. Bill felt he had been deceived by the ad; Steve said it was an honest mistake. Discuss all possible arguments for Steve and Bill.

2. The same ad identified a football signed by the league MVP on sale for $800. Cody went into CS to buy the football, but was told by Paul that the ball was no longer for sale. Paul said that he had so many inquiries about the ball that he decided to auction it off during a Saturday card show. Cody became angry and said that the ad was a legal offer to sell and that he was accepting the offer. Cody demanded the football at the advertised price of $800. Is Cody correct, or can Paul auction the football? Explain.

3. At the end of the summer, Mark had earned enough money to put a down payment on a car. He decided to continue working part-time during school to earn money for the car payments. Mark purchased a car from Dealer, who did not ask Mark how old he was; Dealer assumed Mark had reached the age of majority. Mark paid the down payment and signed the contract stating that he would make payments of $200 each month. Eight months later Mark lost his job at CS and could no longer make the payments. Mark took the car back to Dealer and said he wanted to cancel the contract and wanted his money back. What result? Explain.

4. Mrs. Green bought a signed hockey jersey for $2,500. She signed a written contract with Paul Smith to pay $200 down and $75 per month, plus interest. After making ten payments Mrs. Green questioned the interest calculation, as she thought she might be paying more interest than she expected under the contract. Paul ignored Mrs. Green's inquires. With $500 left to pay, Mrs. Green lost her job and would not be able to make the remaining monthly payments. Mrs. Green offered to settle the debt in full for $150, leaving $350 unpaid. Will this discharge Mrs. Green's duties under the contract? What should Mrs. Green do about the interest charged, if anything? Discuss.

5. Paul terminates Mary, whose sales have been low. Paul told Mary that if she had been more knowledgeable about sports like Steve, then she wouldn't have been fired. Paul then said he should have known better when he hired a woman for a man's job. Realizing he made a big mistake in telling this to Mary, Paul offers Mary a severance package wherein Mary would receive six months salary in exchange for her agreement not to sue Paul or CS. She signed the letter of agreement, cashed the check and then filed a lawsuit for wrongful termination. Mary claimed that the letter of agreement was not a contract. Is she correct? Include a discussion of the elements of a contract in your answer.

6. Paul spent his time away from work on his hobby, model trains. His train set was very large and consisted of rare and one-of-a-kind trains. One day, while visiting with a fellow train hobbyist Harry, Paul said, "When I retire in two years and sell Collect Sports, I'm also going to sell my trains and spend the rest of my years traveling on real trains." Paul then told Harry that he was the only person he planned to offer his trains to because he knew Harry would take good care of them. Harry said he looked forward to the day when he could buy the trains. Harry then spent the next two years and most of his savings building a new 2,000 sq. ft. room onto his house to make room for the trains. When Harry told Paul that he was building the new room, Paul just smiled. Paul also heard that Harry had borrowed money from his aunt to buy the trains. When Paul retired, he sold his trains to David. Harry sued Paul for breach of contract, or in the alternative, for promissory estoppel. Who wins? Explain your answer.

Solution Preview :

Prepared by a verified Expert
Business Law and Ethics: Identifying the appropriate laws and legal theories
Reference No:- TGS01442256

Now Priced at $25 (50% Discount)

Recommended (94%)

Rated (4.6/5)