Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12. Mustafa and Hussein are partners in a computer repair business. Mustafa's uncle asks him to repair the uncle's computer and pays $100, which Mustafa

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
12. Mustafa and Hussein are partners in a computer repair business. Mustafa's uncle asks him to repair the uncle's computer and pays $100, which Mustafa pockets. He does not tell Hussein because the deal came from his relative and not through the partnership business. Is Mustafa correct?15. Gareth Thomas was a director of Middleton Manufacturing Inc. The company put out a call for bids from suppliers for a multimillion-dollar order of the raw materials needed for the coming year. Fiona Ferguson, Thomas's wife, owned and operated a small independent bookstore. Business was excellent, and she planned to expand, taking over the premises next door. A few days before the Middleton board was due to make a decision on its contract, Ferguson was contacted by George Hammond, one of the suppliers who had submitted a bid to Middleton. Hammond offered Ferguson a loan of $30,000 at 2 percent interest, to be repaid over 10 years. "That'll give you room for a book or two!" he said. a) Does this loan create any legal problems for Thomas and, if so, do they depend on whether Hammond's bid is the successful one

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contract Law

Authors: Ewan McKendrick

13th Edition

1352005255, 978-1352005257

More Books

Students also viewed these Law questions

Question

What is Chapter 11 bankruptcy and how is it used by ventures?

Answered: 1 week ago

Question

Self-confidence

Answered: 1 week ago

Question

The number of people commenting on the statement

Answered: 1 week ago