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business law principles
Questions and Answers of
Business Law Principles
3 To whom is a bearer instrument payable?
2 What requirements must an instrument meet to be negotiable?
1 What are the four types of negotiable instruments with which Article 3 of the UCC is concerned? Which of these instruments are orders to pay, and which are promises to pay?
5 IMPLICATIONS FOR THE MANUFACTURER. What should a manufacturer do to avoid litigation on issues such as the one that arose here?
4 ECONOMIC D IMENSIONS. What are some of the likely motivations behind the enactment of the statute at the center of this case?
3 ETHICS. Does a manufacturer have an ethical duty to warn of an obvious, material risk associated with the use of its product? Why or why not?
2 LAW. How did the dissent view the majority’s reasoning and conclusion? On what points did the two opinions differ?
1 LAW. What did the majority hold in this case? What was the majority’s rationale for this decision?
21.10 Video Question. Go to this text’s Web site at www.cengage.com/blaw/blt and select “Chapter 21.” Click on “Video Questions” and view the video titled Warranties. Then answer the
21.9 Critical Legal Thinking. The United States has the strictest product liability laws in the world today. Why do you think many other countries, particularly developing countries, are more lax
21.8 A Question of Ethics. Susan Calles lived with her four daughters, Amanda, age eleven; Victoria, age five; and Jenna and Jillian, age three. In March 1998, Calles bought an Aim N Flame utility
21.7 Implied Warranties. Peter and Tanya Rothing operate Diamond R Stables near Belgrade, Montana, where they bred, trained, and sold horses. Arnold Kallestad owns a ranch in Gallatin County,
21.6 Product Liability. Bret D’Auguste was an experienced skier when he rented equipment to ski at Hunter Mountain Ski Bowl, Inc., owned by Shanty Hollow Corp., in New York. The adjustable
21.5 Express Warranties. Videotape is recorded magnetically. The magnetic particles that constitute the recorded image are bound to the tape’s polyester base. The binder that holds the particles to
21.4 Case Problem with Sample Answer. Mary Jane Boerner began smoking in 1945 at the age of fifteen. For a short time, she smoked Lucky Strike–brand cigarettes before switching to the Pall Mall
21.3 Implied Warranties. Sam, a farmer, needs to install a piece of equipment in his barn. The equipment, which weighs two thousand pounds, must be lifted thirty feet into a hayloft. Sam goes to
21.2 Hypothetical Question with Sample Answer. Tandy purchased a washing machine from Marshall Appliances. The sales contract included a provision explicitly disclaiming all express or implied
liable?
21.1 Product Liability. Under what contract theory can a seller be held liable to a consumer for physical harm or property damage that is caused by the goods sold? Under what tort theories can the
5 What defenses to liability can be raised in a product liability lawsuit?
4 What are the elements of a cause of action in strict product liability?
3 Can a manufacturer be held liable to any person who suffers an injury proximately caused by the manufacturer’s negligently made product?
2 What implied warranties arise under the UCC?
1 What factors determine whether a seller’s or lessor’s statement constitutes an express warranty or mere puffery?
20.9 Critical Thinking and Writing Assignment for Business. Suppose that you own antique cars and you need spare parts for a 1938 engine, which are scarce. You discover that Beem has the spare parts.
20.8 Critical Legal Thinking. Under what circumstances should courts not allow fully informed contracting parties to agree to limit remedies?
20.7 A Question of Ethics. Scotwood Industries, Inc., sells calcium chloride flake for use in ice melt products. Between July and September 2004, Scotwood delivered thirty seven shipments of flake to
20.6 Additional Provisions Affecting Remedies. Nomo Agroindustrial Sa De CV is a company based in Mexico that grows vegetables to sell in the United States. In the early 2000s, Nomo had problems
20.5 Remedies of the Buyer. L.V.R.V., Inc., sells recreational vehicles (RVs) in Nevada, as Wheeler’s Las Vegas RV. In 1997, Wheeler’s sold a Santara RV to Arthur and Roswitha Waddell. The
20.4 Case Problem with Sample Answer. Eaton Corp. bought four air-conditioning units from Trane Co. The contract stated in part, “Neither party shall be liable for . . . consequential damages.”
20.3 Right of Assurance. Advanced Polymer Sciences, Inc. (APS), based in Ohio, makes polymers and resins for use as protective coatings in industrial applications. APS also owns the technology for
20.2 Hypothetical Question with Sample Answer. Cummings ordered two model X Super Fidelity speakers from Jamestown Wholesale Electronics, Inc. Jamestown shipped the speakers via United Parcel
20.1 Remedies. Genix, Inc., has contracted to sell Larson five hundred washing machines of a certain model at list price. Genix is to ship the goods on or before December 1. Genix produces one
5 In contracts subject to the UCC, are parties free to limit the remedies available to the nonbreaching party on a breach of contract? If so, in what ways?
4 What remedies are available to a seller or lessor when the buyer or lessee breaches the contract? What remedies are available to a buyer or lessee if the seller or lessor breaches the contract?
3 What options are available to the nonbreaching party when the other party to a sales or lease contract repudiates the contract prior to the time for performance?
2 What is the perfect tender rule? What are some important exceptions to this rule that apply to sales and lease contracts?
1 What are the respective obligations of the parties under a contract for the sale or lease of goods?
19.7 Video Question. Go to this text’s Web site at www. cengage.com/blaw/blt and select “Chapter 19.” Click on “Video Questions” and view the video titled Risk of Loss. Then answer the
19.6 A Question of Ethics. Kenneth West agreed to sell his car, a 1975 Corvette, to a man representing himself as Robert Wilson. In exchange for a cashier’s check, West signed over the Corvette’s
19.5 Shipment and Destination Contracts. In 2003, Karen Pearson and Steve and Tara Carlson agreed to buy a 2004 Dynasty recreational vehicle (RV) from DeMartini’s RV Sales in Grass Valley,
19.4 Case Problem with Sample Answer. William Bisby gave an allterrain vehicle (ATV) to Del City Cycle in Enid, Oklahoma, to sell on his behalf. Joseph Maddox bought the ATV, but paid for it with a
19.3 Sales by Nonowners. Julian Makepeace, who had been declared mentally incompetent by a court, sold his diamond ring to Golding for value. Golding later sold the ring to Carmichael for value.
19.2 Hypothetical Question with Sample Answer. When will risk of loss pass from the seller to the buyer under each of the following contracts, assuming the parties have not expressly agreed on when
19.1 Sales by Nonowners. In the following situations, two parties lay claim to the same goods sold. Explain which party would prevail in each situation. 1 Terry steals Dom’s iPod and sells it to
5 At what point does the buyer acquire an insurable interest in goods subject to a sales contract? Can both the buyer and the seller have an insurable interest in the goods simultaneously?
4 Under what circumstances will the seller’s title to goods being sold be void? When does a seller have voidable title?
3 Risk of loss does not necessarily pass with title. If the parties to a contract do not expressly agree when risk passes and the goods are to be delivered without movement by the seller, when does
2 If the parties to a contract do not expressly agree on when title to goods passes, what determines when title passes?
1 What is the significance of identifying goods to a contract?
4 Would parol evidence be admissible?
3 Are the e-mail messages that Anna refers to sufficient proof of the contract?
2 According to the Uniform Commercial Code (UCC), what conditions must be satisfied in order for a contract to be formed when certain terms are left open? What terms (in addition to price) can be
1 Is Anna correct in assuming that a contract can exist even though the sales price for the computer equipment was not specified? Explain.
18.9 Video Question. Go to this text’s Web site at www. cengage.com/blaw/blt and select “Chapter 18.” Click on “Video Questions” and view the video titled Sales and Lease Contracts: Price
18.8 Critical Legal Thinking. Why is the designation merchant or nonmerchant important?
18.7 A Question of Ethics. Daniel Fox owned Fox & Lamberth Enterprises, Inc., a kitchen and bath remodeling business, in Dayton, Ohio. Fox leased a building from Carl and Bellulah Hussong. Craftsmen
18.6 Parol Evidence. Clear Lakes Trout Co. operates a fish hatchery in Idaho. Rodney and Carla Griffith are trout growers. Clear Lakes agreed to sell “small trout” to the Griffiths, who agreed
18.5 Case Problem with Sample Answer. Propulsion Technologies, Inc., a Louisiana firm doing business as (dba) PowerTech Marine Propellers, markets small steel boat propellers that are made by a
18.4 Offer. In 1998, Johnson Controls, Inc. (JCI), began buying auto parts from Q. C. Onics Ventures, LP. For each part, JCI would inform Onics of its need and ask the price. Onics would analyze the
18.3 Statute of Frauds. Quality Pork International is a Nebraska firm that makes and sells custom pork products. Rupari Food Services, Inc., buys food products and sells them to retail operations and
18.2 Hypothetical Question with Sample Answer. M. M. Salinger, Inc., a retailer of television sets, orders one hundred model Color-X sets from manufacturer Fulsom. The order specifies the price and
18.1 Statute of Frauds. Fresher Foods, Inc., orally agreed to purchase from Dale Vernon, a farmer, one thousand bushels of corn for $1.25 per bushel. Fresher Foods paid $125 down and agreed to pay
5 What law governs contracts for the international sale of goods?
4 Article 2 and Article 2A of the UCC both define several exceptions to the writing requirements of the Statute of Frauds. What are these exceptions?
3 If an offeree includes additional or different terms in an acceptance, will a contract result? If so, what happens to these terms?
2 What is a merchant’s firm offer?
1 How do Article 2 and Article 2A of the UCC differ? What types of transactions does each article cover?
5 IMPLICATIONS FOR THE INVESTOR. Litigating a dispute through a trial and an appeal is expensive. How might a party in David’s position avoid the cost?
4 CULTURAL DIMENSIONS. What does this case indicate about the status of women?
3 ETHICS. At David’s suggestion, before signing the prenuptial agreement, Victoria consulted an attorney who was an associate of the same law firm as David’s sister-in-law. David paid his
2 LAW. On what points did the dissent disagree with the majority? Why?
1 LAW. What was the majority’s conclusion on the issue before the court in this case? What was the reasoning to support this conclusion?
17.10 Video Question. Go to this text’s Web site at www. cengage.com/blaw/blt and select “Chapter 17.” Click on “Video Questions” and view the video titled E-Contracts: Agreeing Online.
17.9 Critical Thinking and Writing Assignment for Business. Delta Co. buys accounting software from Omega Corp. On the outside of the software box, on the inside cover of the instruction manual, and
17.8 A Question of Ethics. In 2000 and 2001, Dewayne Hubbert, Elden Craft, Chris Grout, and Rhonda Byington bought computers from Dell Corp. through its Web site. Before buying, Hubbert and the
17.7 Online Acceptances. Internet Archive (IA) is devoted to preserving a record of resources on the Internet for future generations. IA uses the “Wayback Machine” to automatically browse Web
17.6 Case Problem with Sample Answer. Stewart Lamle invented “Farook,” a board game similar to Tic Tac Toe. In May 1996, Lamle began negotiating with Mattel, Inc., to license Farook for
17.5 Shrink-Wrap Agreements/Browse-Wrap Terms. Mary DeFontes bought a computer and a service contract from Dell Computers Corp. DeFontes was charged $950.51, of which $13.51 was identified on the
17.4 Click-On Agreements. America Online, Inc. (AOL), provided e-mail service to Walter Hughes and other members under a click-on agreement titled “Terms of Service.” This agreement consisted of
17.3 Online Acceptance. Bob, a sales representative for Central Computer Co., occasionally uses the Internet to obtain information about his customers and to look for new sales leads.While visiting
17.2 Hypothetical Question with Sample Answer. Anne is a reporter for Daily Business Journal, a print publication consulted by investors and other businesspersons. She often uses the Internet to
17.1 Click-On Agreements. Paul is a financial analyst for King Investments, Inc., a brokerage firm. He uses the Internet to find information about companies that might be good investments for
5 What law governs contracts for the international sale of goods?
4 Article 2 and Article 2A of the UCC both define several exceptions to the writing requirements of the Statute of Frauds. What are these exceptions?
3 If an offeree includes additional or different terms in an acceptance, will a contract result? If so, what happens to these terms?
2 What is a merchant's firm offer?
1 How do Article 2 and Article 2A of the UCC differ? What types of transactions does each article cover?
5 What is the Uniform Electronic Transactions Act (UETA)? What are some of its major provisions?
4 What is a partnering agreement? What purpose does it serve?
3 What is an electronic signature? Are electronic signatures valid?
2 How do shrink-wrap and click-on agreements differ from other contracts? How have traditional laws been applied to these agreements?
1 What are some important clauses to include when making offers to form electronic contracts, or e-contracts?
16.10 Video Question. Go to this text’s Web site at www. cengage.com/blaw/blt and select “Chapter 16.” Click on “Video Questions” and view the video titled Third Party Beneficiaries. Then
16.9 Critical Legal Thinking. If intended third party beneficiaries could not sue the promisor directly to enforce a contract, what would their legal remedy be?
16.8 A Question of Ethics. In 1984, James Grigg’s mother was killed in a car accident. Royal Insurance Co. of America agreed to pay Grigg a number of monthly payments and two lump-sum payments of
16.7 Third Party Beneficiary. National Association for Stock Car Auto Racing, Inc. (NASCAR), sanctions stock car races. NASCAR and Sprint Nextel Corp. agreed that Sprint would become the Official
16.6 Case Problem with Sample Answer. The National Collegiate Athletic Association (NCAA) regulates intercollegiate amateur athletics among more than 1,200 colleges and universities with which it
16.5 Third Party Beneficiary. Acciai Speciali Terni USA, Inc. (AST), hired a carrier to ship steel sheets from Italy to the United States on the M/V Berane. The ship’s receipt for the goods
16.4 Notice of Assignment. As the building services manager for Fulton County, Georgia, Steve Fullard oversaw custodial services. Fullard determined which services to contract for, received the
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