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business law

Questions and Answers of Business Law

Healthwin-Midtown Convalescent Hospital, Inc. (Healthwin), was incorporated in California for the purpose of operating a health-care facility. For three years thereafter, it participated as a
MPL Leasing Corporation is a California corporation that provides financing plans to dealers of Saxon Business Products. MPL invited Jay Johnson, a Saxon dealer in Alabama, to attend a sales seminar
In April, Cranson was asked to invest in a new business corporation that was about to be created. He agreed to purchase stock and to become an officer and director. After his attorney advised him
Berger was planning to produce a fashion show in Las Vegas. In April 1965, Berger entered into a written licensing agreement with CBS Films, Inc., a wholly owned subsidiary of CBS, for presentation
Frank McAnarney and Joseph Lemon entered into an agreement to promote a corporation to engage in the manufacture of farm implements. Before the corporation was organized, McAnarney and Lemon
Green & Freedman Baking Company (Green & Freedman) was a family-owned Massachusetts corporation that produced and sold baked goods. The terms of a collective bargaining agreement required Green &
Ronald Nadler was a resident of Maryland and the CEO of Glenmar Cinestate, Inc., a Maryland corporation, as well as its principal stockholder. Glenmar leased certain space in the Westridge Square
Olympic National Agencies was organized with an authorized capitalization of preferred stock and common stock. The articles of incorporation provided for a 7 percent annual dividend for the preferred
The XYZ Corporation was duly organized on July 10. Its certificate of incorporation provides for total authorized capital of $1 million, consisting of ten thousand shares of common stock with a par
Doris subscribed for two hundred shares of 12 percent cumulative, participating, redeemable, convertible, preferred shares of the Ritz Hotel Company with a par value of $100 per share. The
The Hyperion Company has an authorized capital stock of one thousand shares with a par value of $100 per share, of which nine hundred shares, all fully paid, were outstanding. Having an ample
For five years, Henry and James had been engaged as partners in building houses. They owned the equipment necessary to conduct the business and had an excellent reputation. In March, Joyce, who had
Paul Bunyan is the owner of noncumulative 8 percent preferred stock in the Broadview Corporation, which had no earnings or profits in 2009. In 2010, the corporation had large profits and a surplus
Alpha Corporation has outstanding four hundred shares of $100 par value common stock, which has been issued and sold at $105 per share for a total of $42,000. Alpha is incorporated in State X, which
Almega Corporation, organized under the laws of State S, has outstanding twenty thousand shares of $100 par value nonvoting preferred stock calling for noncumulative dividends of $5 per year; ten
Sayre learned that Adams, Boone, and Chase were planning to form a corporation for the purpose of manufacturing and marketing a line of novelties to wholesale outlets. Sayre had patented a
Wood, the receiver of Stanton Oil Company, sued Stanton’s shareholders to recover dividends paid to them for three years, claiming that at the time these dividends were declared, Stanton was in
International Distributing Export Company (I.D.E.) was organized as a corporation on September 7, 2004, under the laws of New York and commenced business on November 1, 2004. I.D.E. formerly had been
GM Sub Corporation (GM Sub), a subsidiary of Grand Metropolitan Limited, acquired all outstanding shares of Liggett Group, Inc., a Delaware corporation. Rothschild International Corporation
Brown, the president and director of a corporation engaged in owning and operating a chain of motels, was advised, upon what seemed to be good authority, that a superhighway was to be constructed
A, B, C, D, and E constituted the board of directors of the X Corporation. While D and E were out of town, A, B, and C held a special meeting of the board. Just as the meeting began, C became ill. He
Bernard Koch was president of United Corporation, a closely held corporation. Koch, James Trent, and Henry Phillips made up the three-person board of directors. At a meeting of the board, Trent was
Zenith Steel Company operates a prosperous business. In January, Zenith’s chief executive officer (CEO) and president, Roe, who is also a member of the board, was voted a $1 million bonus by the
(a) Smith, a director of the Sample Corporation, sells a piece of vacant land to the Sample Corporation for $500,000. The land cost him $200,000.(b) Jones, a shareholder of the Sample Corporation,
The X Corporation manufactures machine tools. The five directors of X Corporation are Black, White, Brown, Green, and Crimson. At a duly called meeting of the board of directors of X Corporation in
Gore had been the owner of 1 percent of the outstanding shares of the Webster Company, a corporation, since its organization ten years ago. Ratliff, the president of the company, was the owner of 70
Mitchell, Nelson, Olsen, and Parker, experts in manufacturing baubles, each owned fifteen out of one hundred authorized shares of Baubles, Inc., a corporation of State X, which does not permit
Acme Corporation’s articles of incorporation require cumulative voting for the election of its directors. The board of directors of Acme Corporation consists of nine directors, each elected
Neese, trustee in bankruptcy for First Trust Company, brings a suit against the directors of the company for losses the company sustained as a result of the directors’ failure to use due care and
Minority shareholders of Midwest Technical Institute Development Corporation, a closed-end investment company owning assets consisting principally of securities of companies in technological fields,
Riffe, while serving as an officer of Wilshire Oil Company, received a secret commission for work he did on behalf of a competing corporation. Can Wilshire Oil recover these secret profits and, in
Muller, a shareholder of SCM, brought an action against SCM over his unsuccessful negotiations to purchase some of SCM’s assets overseas. He then formed a shareholder committee to challenge the
A bylaw of Betma Corporation provides that no shareholder can sell his shares unless he first offers them for sale to the corporation or its directors. The bylaw also states that this restriction
Pritchard & Baird was a reinsurance broker. A reinsurance broker arranges contracts between insurance companies so that companies that have sold large policies may sell participations in these
Donald J. Richardson, Grove L. Cook, and Wayne Weaver were stockholders of Major Oil. They brought a direct action, individually and on behalf of all other stockholders of Major, against certain
Klinicki and Lundgren, both furloughed Pan Am pilots stationed in West Germany, decided to start their own charter airline company. They formed Berlinair, Inc., a closely held Oregon corporation.
Keller, a professor of legal studies at Rhodes University, is a diligent instructor. Late one night while reading a newly published, copyrighted treatise of 1,800 pages written by Gilbert, he came
A conceived a secret process for the continuous freeze-drying of foodstuffs and related products and constructed a small pilot plant that practiced the process. A, however, lacked the financing
B, a chemist, was employed by A, a manufacturer, to work on a secret process for A’s product under an exclusive three-year contract. A employed C, a salesperson, on a week-to-week basis. B and C
Conrad and Darby were competitors in the business of dehairing raw cashmere, the fleece of certain Asiatic goats. Dehairing is the process of separating the commercially valuable soft down from the
Jones, having filed locally an affidavit required under the assumed name statute, has been operating and advertising his exclusive toy store for twenty years in Centerville, Illinois. His advertising
Ryan Corporation manufactures and sells a variety of household cleaning products in interstate commerce. On national television, Ryan falsely advertises that its laundry liquid is biodegradable. Has
Gibbons, Inc., and Marvin Corporation are manufacturers who sell a variety of household cleaning products in interstate commerce. On national television, Gibbons states that its laundry liquid is
George McCoy of Florida has been manufacturing and distributing a cheesecake for more than five years, labeling his product with a picture of a cheesecake, which serves as a background for a Florida
Sony Corporation manufactured and sold home video recorders, specifically Betamax videotape recorders (VTRs). Universal City Studios, Inc. (Universal), owned the copyrights on some programs aired on
The Coca-Cola Company manufactures a carbonated beverage, Coke, made from coca leaves and cola nuts. The Koke Company of America introduced into the beverage market a similar product named Koke. The
Vuitton, a French corporation, manufactures high-quality handbags, luggage, and accessories. Crown Hand-bags, a New York corporation, manufactures and distributes ladies’ handbags. Vuitton handbags
T.G.I. Friday’s, a New York corporation and registered service mark, entered into an exclusive licensing agreement with Tiffany & Co. that allowed Tiffany to open a Friday’s restaurant in
As part of its business, Kinko’s Graphics Corporation (Kinko’s) copied excerpts from books, compiled them in ‘‘packets,’’ and sold the packets to college students. Kinko’s did this
In 1967, a Chicago brewer, Meister Brau, Inc., began making and selling a reduced-calorie, reduced-carbohydrate beer under the name ‘‘LITE.’’ Late in 1968, that company filed applications to
B. C. Ziegler and Company (Ziegler) was a securities company located in West Bend. It had established an internal procedure by which its customer lists were treated confidentially. This procedure
Since the 1950s, Qualitex Company has used a special shade of green-gold color on the pads that it makes and sells to dry cleaning firms for use on dry cleaning presses. In 1989 Jacobson Products (a
Napster, Inc. (Napster), facilitates the transmission of MP3 files (a digital format for the storage of audio recordings) between and among its users. Through a process commonly called
Discuss the validity and effect of each of the following:(a) A, B, and C, manufacturers of stereos, orally agree that due to the disastrous, cutthroat competition in the market, they will establish a
Discuss the validity of the following:(a) A territorial allocation agreement between two manufacturers of the same type of products, whereby neither will sell its products in the area allocated to
Universal Video sells $40 million worth of video recording equipment in the United States. The total sales of such equipment in the United States is $100 million. One-half of Universal’s sales is
Z sells cameras to A, B, C, and D for $110 per camera. Y, one of Z’s competitors, sells a comparable camera to A for $101.50. Z, in response to this competitive pressure from Y, lowers its price to
Discount is a discount appliance chain store that continually sells goods at a price below manufacturers’ suggested retail prices. A, B, and C, the three largest manufacturers of appliances, agree
Magnum Company produces 77 percent of the coal utilized in the United States. Coal provides 25 percent of all of the energy used in the United States. In a suit brought by the United States against
Justin Manufacturing Company sells high-fashion clothing under the prestigious ‘‘Justin’’ label. The company has a firm policy that it will not deal with any company that sells below its
Jay Corporation, the largest manufacturer of bicycles in the United States, with 40 percent of the market, has recently entered into an agreement with Retail Bike, the largest retailer of bicycles in
Whirlpool Corporation manufactured vacuum cleaners under both its own name and under the Kenmore name. Oreck exclusively distributed the vacuum cleaners sold under the Whirlpool name. Sears, Roebuck
Indian Coffee of Pittsburgh, Pennsylvania, marketed vacuum packed coffee under the Breakfast Cheer brand name in the Pittsburgh and Cleveland, Ohio, areas. That same year, Folgers Coffee, a leading
Von’s Grocery, a large retail grocery chain in Los Angeles, sought to acquire Shopping Bag Food Stores, a direct competitor. At the time of the proposed merger, Von’s sales ranked third in the
Boise Cascade Corporation is a wholesaler and retailer of office products. The Federal Trade Commission issued a complaint charging that Boise had violated the Robinson-Patman Act by receiving a
Great Atlantic and Pacific Tea Company desired to achieve cost savings by switching to the sale of ‘‘private label’’ milk. A&P asked Borden Company, its longtime supplier of ‘‘brand
Clorox is the nation’s leading manufacturer of household liquid bleach (accounting for 49 percent—$40 million—of sales annually) and is the only brand sold nationally. Clorox and its next
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 National Society of Professional Engineers (Society) had an ethics rule that prohibited member engineers from disclosing or discussing price and fee information with customers until after the
During a period of a few years, intense price competition characterized both the retail and the wholesale oil markets. At times, prices in the wholesale market fell below the manufacturer’s cost.
As part of a corporate plan to stimulate sagging television sales, GTE Sylvania began to phase out its wholesale distributors and began to sell its television sets directly to a smaller and more
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
The California Dental Association (CDA) is a voluntary nonprofit association of local dental societies to which some nineteen thousand dentists belong, about three-quarters of those practicing in the
The Federal Trade Commission (FTC) brings a deceptive trade practice action against Beneficial Finance Company based on Beneficial’s use of its ‘‘instant tax refund’’ slogan. The FTC argues
Barnes borrows $10,000 from Linda for one year, agreeing to pay Linda $2,000 in interest on the loan and to repay the loan in twelve monthly installments of $1,000. The contract which Linda provides
A consumer entered into an agreement with Rent-It Corporation for the rental of a television set at a charge of $17 per week. The agreement also provides that if the renter chooses to rent the set
Central Adjustment Bureau allegedly threatened Consumer with a lawsuit, service at his office, and attachment and sale of his property to collect a debt when it did not intend to take such actions
The Giant Development Company undertakes a massive real estate venture to sell 9,000 one-acre unimproved lots in Utah. The company advertises the project nationally. Arrington, a resident of New
Jane Jones, a married woman, applies for a credit card from Exxon but is refused credit. Jane is bewildered as to why she was turned down. What are her legal rights in this situation?
On a beautiful Saturday in October, Francie decides to take the twenty-mile ride from her home in New Jersey into New York City to do some shopping. Francie finds that Brown’s Retail Sales, Inc.,
Frank finds Thomas’s wallet, which contains numerous credit cards and Thomas’s identification. By using Thomas’s identification and VISA card, Frank goes on a shopping spree and runs up $5,000
Robert applies to Northern National Bank for a loan. Prior togranting the loan, Northern requests that Callis Credit Agency provide it with a credit report on Robert. Callis reports that three years
Colgate-Palmolive Co. produced a television advertisement that dramatically demonstrated the effectiveness of its Rapid Shave shaving cream. The ad purported to show the shaving cream being used to
Several manufacturers introduced into the American market products known as all-terrain vehicles (ATVs). ATVs are motorized bikes that sit on three or four low-pressure balloon tires and are meant to
Sears formulated a plan to increase sales of its top-of-the-line ‘‘Lady Kenmore’’ brand dishwasher; it sought to change the Lady Kenmore’s image without reengineering or making any
Onondaga Bureau of Medical Economics (OBME), a collection agency for physicians, sent plaintiff Seabrook a letter demanding payment for a $198 physician’s bill. In addition to demanding payment,
William Thompson was denied credit based on an inaccurate credit report compiled by the San Antonio Retail Merchant’s Association. The Association confused Thompson’s credit history with that of
Thompson Medical Company manufactures and sells Aspercreme, a topical analgesic. Aspercreme is a pain reliever that contains no aspirin. Thompson’s advertisements strongly suggest that Aspercreme
Mary Smith bought a car from Doug Chapman under an installment sales contract. Smith carried the insurance on the car, as required by the contract. Shortly after Smith purchased the car, it was
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
Lenvil Miller owed $2,501.61 to the Star Bank of Cincinnati. Star Bank referred collection of Miller’s account to Payco-General American Credits, Inc. (Payco), a debt collection agency. Payco sent
Greg Henson sold his Chevrolet Camaro Z-28 to his brother, Jeff Henson. To purchase the car, Jeff secured a loan with Cosco Federal Credit Union (Cosco). Soon thereafter, the car was stolen and Jeff
Pantron I Corporation and Hal Z. Lederman market a product known as the Helsinki Formula. This product supposedly arrests hair loss and stimulates hair re-growth in baldness sufferers. The formula
Gooddecade manufactures and sells automobile parts throughout the eastern United States. Among its full-time employees are 220 fourteen-and fifteen-year-olds. These teenagers are employed throughout
Janet, a twenty-year-old woman, applied for a position driving a truck for Federal Trucking, Inc. Janet, who is 5’4’’ tall and weighs 135 pounds, was denied the job because the company requires
N.I.S. promoted John, a forty-two-year-old employee, to a foreman’s position while passing over James, a fifty-eight-year-old employee. N.I.S. told James he was too old for the job and that the
Anthony was employed as a forklift operator for Blackburn Construction Company. While on the job, Anthony operated the forklift in a careless manner and in direct violation of Blackburn’s procedure
Hazelwood School District, located in Sleepy Hollow Township, is being sued by several teachers who applied for teaching positions within the school district but were rejected. The plaintiffs, who
T.W.E., a large manufacturer, prohibited its employees from distributing union leaflets to other employees while on the company’s property. Richard, an employee of T.W.E., disregarded the
Erwick was dismissed from her job at the C & T Steel Company because she was ‘‘an unsatisfactory employee.’’ At the time, Erwick was active in an effort to organize a union at C & T. Is the

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