1. You are buying a business that has a significant list of customers that were developed by the seller of the business. You are concerned that the customers would leave you and go to any new business the Seller started. How can you protect yourself? Specifically describe what you should do.

2. In 2011, someone started a forest fire in Florida. The smoke from the fire blanketed Interstate 75 reducing visibility on the interstate to less than ten feet. As cars slowed down entering the smoke cars following them ran over them creating a massive multi car accident. Ten people were killed with many others injured. Assume the person who started the fire is found. Discuss the possible legal actions that may result from this set of facts. What legal actions or theories are involved? Discuss who could be involved and what their actions would be and what defenses would be available.

3. Sally, an independent, licensed polygraph operator, was employed by law enforcement authorities to question a suspect. During the testing, which was conducted over two days, the suspect confessed to killing a guard in the Wells Fargo robbery, a crime about which the suspect was not being questioned. The suspect was convicted and sentenced for the murder. Sally claimed a $25,000 reward Wells Fargo had offered for information leading to the arrest and conviction of the person or persons participating in the shooting. Is Sally entitled to the reward?

4. Write the legal description for the indicated tracts shown on the map and Draw on the map the following Property: E NW , Sw NE . How many acres does it contain? 12 T 7 S, R 8 W MPM

5. You own a building worth $400,000 and insure it for $200,000. After you insure the building, a fire starts and causes damages to the building in the amount of $100,000. You send the repair bill to the insurance company and request that they pay for the damages. How much will the insurance company pay? Why?

6. Billy Weed, always the entrepreneurial type, decided he could make his fortune by opening a Medical Marijuana store in his home. Assume Billy's state had legalized medical marijuana use and sale to patients with a doctors' prescription. Billy intended to differentiate his business from all the others starting up by using his mothers very special brownie recipe and offering home delivery of his baked goods, he thought if Domino's could do it, so could he. Billy knew that Medical Marijuana had been legalized in his state, and that it was not legal under the Federal Statutes. Billy went to his local bank and applied for a loan to start his business. The bank turned him down. Billy then went to a rich relative for a loan. Uncle Grass, seeing the potential for profit prepared an IOU for Billy to sign, and gave him the money to get started. The business, a sole proprietorship, was opened as "Billy's Bong in a Brownie" and was quickly successful. Billy began making his fortune, accumulating real estate, cars and money. The home delivery made the business successful until his delivery driver, Reiley Reckless got into a wreck and ran over Sally Straightlace as she was walking down the sidewalk with her poodle. Sally sued Billy for her damages totaling $2 million dollars in medical bills and for the loss of her dog, crushed by the car. Sally learned in discovery that Billy and Reiley had been sampling the last batch of brownies for quality control purposes before Reiley went out to deliver the new batch of brownies and that Reiley's drivers license had been suspended six months earlier. Sally wins the lawsuit and obtains a judgment against Billy. She is successful in taking all of the business assets and all of Billy's accumulated wealth.

Discuss

A. Billy quits paying Uncle Grass because he has no sales or cash flow. What options does Uncle Grass have? If Uncle Grass sues, does Billy have any defenses? Can Uncle Grass collect the debt? What should Uncle Grass have done to improve his hopes of collecting?

B. Provide a detailed description of what Sally's claim in the suit against Billy will be and what she had to prove to win.

C. What should Billy have done at the start to protect himself and his assets? Be Specific THINK BEFORE YOU WRITE, ORGANIZE YOUR ANSWER. THERE ARE A LOT OF ISSUES TO ADDRESS.

7. Harold and Maude made a great couple because both were compulsive entrepreneurs. One evening they sat on their penthouse deck, overlooking the Chicago skyline. Harold sipped on coffee while negotiating, over the phone, with a real estate developer in Texas. Maude puffed on a cigar as she bargained on a different line with a toy manufacturer in Cleveland. They hung up at the same time. "I did it!" shrieked Maude, " I made an incredible deal for the robots - five bucks each!" " No, I did it!" triumphed Harold, " I sold the 50 acres in Texas for $500,000 more than it is worth." They dashed indoors. Maude quickly scrawled a handwritten memo, which said, "Confirming our deal - 100,000 Psycopath Zombie Robots, you deliver Chicago, end of summer". She didn't mention a price, or an exact delivery date, or when payment would be made. She signed her memo and emailed it to the toy manufacturer. Harold took more time. He typed a thorough contract, describing precisely the land he was selling, the $2.3 million price, how and when each payment would be made and when the deed would be conveyed. He signed the contract and shipped it federal express, along with a survey of the land to the buyer. Then the happy couple grabbed a bottle of champagne, returned to the deck and placed a bet on whose contract would prove more profitable. Neither Harold nor Maude ever heard from the other parties to their respective deals again. The toy manufacturer sold the Robots to another retailer at a higher price. Maude was forced to buy comparable toys elsewhere for $9 each. She sued. And the Texas property buyer changed his mind, and refused to pay Harold for the land. Harold sued. Who wins? Discuss the results and how and why you reached your conclusions. Think before you write organize your answer. (Extra Credit 5 points)