Questions and Answers of Business Law Today

What constitutes the satisfactory performance of a contract?
What is the difference between complete and substantial performance?
How can a contract be discharged by nonperformance?
What is anticipatory repudiation?
What types of damages are available in the event of a breach of contract?
What is the difference between specific performance and injunctive relief?
Under a divorce decree, Blackston was ordered to pay $600 a month in child support to his former wife. The decree provided that the payments were to be paid to the clerk of the court’s office. The
Gary Jones retained the law firm of Irace and Lowry after being injured in a motorcycle accident. Later, Jones required surgery after dislocating his shoulder in an unrelated incident. Having no
Copeland contracted with McDonald’s Systems, Inc., for a franchise. Copeland was granted the fast-food outlet franchise for Omaha. McDonald’s also gave Copeland first refusal rights for any plans
Timbercrest built a house for the Murphys. After occupying the house for a while, the Murphys complained of several problems. Timbercrest fixed the problems, and the Murphys had no further
Nolan wrote the song “Tumbling Tumbleweeds” and, in an agreement with Sam Fox Publishing Company, transferred all rights to the song to the company. In return, Nolan was to receive royalties
When Kent contracted to have his new house constructed, he specifically noted that the plumbing must be made by Reading manufacturers. After the house had been completed, Kent did an inspection tour
Sai Grafio agreed to paint Gerald Weaver’s and Katherine Brewer’s house for $5,650. Weaver and Brewer paid for the paint job in installments but stopped payment on the final $1,845 check,
Arthur Murray, Inc., and Parker entered a series of contracts under which Arthur Murray agreed to teach Parker how to dance. Under the terms of each agreement, refunds were impossible, and the
Bob Pagan Ford, Inc., hired Smith to work as a car salesperson in Galveston County. As part of his contract, Smith agreed not to work as an auto salesperson in Galveston County for three years after
Kucha sold a house to Pilder for $75,293. The agreement was in writing, as required by the Statute of Frauds. As part of the contract, Kucha agreed to pay for the remodeling of the sun porch.
When one party breaks the terms of a contract, and the other party sues, the court will do its best to place the parties in as good a position as they would have been had the contract been performed
Julie Ray Murray had worked as an accountant for Accounting Center and Tax Services for eight years when her boss, Phillip Roberts, asked her to sign a noncompete agreement. Under the agreement,
The court held Rostow to the contract in Example 12-8 even though Future graphics was one week late in fulfilling its part of the agreement. Because time really was not essential to the agreement,
A gift is considered a sale. True/False
Money, stocks, and bonds are movable items that are not goods. True/False
The dominant element of a contract determines whether it is a sales contract or a services contract. True/False
Under the UCC, a contract comes into existence when the acceptance is sent if the method used is reasonable. True/False
No consideration is necessary to establish a firm offer when a consumer promises in writing to hold an offer open for the sale or lease of goods. True/False
Under the UCC, a contract for the sale of goods may be established even though the price is not settled. True/False
A lease of goods must be in writing if the total payments to be made under the lease are $500 or more. True/False
The E-Sign Act was developed, written, and passed by the U.S. Congress. True/False
The practice of planting persons in the crowd for the purpose of raising bids by innocent purchasers is not allowed. True/False
Void title means title that may be voided if the injured party elects to do so. True/False
Voidable title means no title at all. True/False
Fungible goods must be separated from the bulk before title to them can pass to a buyer. True/False
Goods that are sold on approval are subject to the claims of the buyer’s creditors until the buyer decides to accept them. True/False
Goods that are sold on approval remain the property of the seller until the buyer’s approval has been expressed. True/False
Goods that are sold on sale or return are not subject to the claims of the buyer’s creditors. True/False
What are goods and what is a sale?
When does Article 2 of the UCC apply to contractual relationship?
What are the UCC rules that relate to written contracts?
What are the two laws that relate to cyber-sales contracts and what do they accomplish?
What is the difference between an auction with reserve with an auction without reserve?
What are valid title, void title, and voidable title?
When does the title to goods pass from seller to buyer?
When must the buyer and when must the seller bear the risk of loss?
What is the difference between a sale on approval and a sale or return?
Brenda Brandt had a medical device implanted as part of her treatment for a serious medical condition. A charge for the device was included in the hospital bill. Later, the device was recalled by its
Alberto Parreira, a lobsterman, contracted in writing to sell Sam Adams 1,000 pounds of fresh lobsters at a particular price during the following season. A few months later, when lobsters became
Harnois entered into an oral contract with Neverson to lease a compact computer and a printer for three months for $600. In an attempt to rescind the contract, Harnois claimed that the contract was
Carolina Transformer Co., Inc., brought suit against Anderson for several thousand dollars owed it for the purchase of transformers. Anderson testified in court that he had orally negotiated the
Representatives of a fish marketing association (AIFMA) and a fish company (NEFCO) met at Bristol Bay, Alaska, to negotiate a marketing agreement for the forthcoming fishing season. At this meeting,
Wheel Sports Center entered into a sales contract agreeing to deliver a motorcycle to Ramos for the price of $893. Ramos paid the full price for the motorcycle and immediately had it insured and
Fanning, who was 17 years old, sold her bicycle to Gerard, an adult, for $75. The next day, Gerard advertised the bicycle for sale in the classified section of a local newspaper and sold it for $150.
Harold Marcus entered into a contract with Corrigan’s Yacht Yard & Marine Sales, Inc., to trade in his 34-foot Silverton power boat toward a later model Mainship boat. He delivered his Silverton
Henry Heide, Inc., received a warehouse receipt for 3,200 100-pound bags of sugar that it bought from Olavarria. The corporation withdrew 800 bags of the sugar from the warehouse (where thousands of
The Uniform Commercial Code (UCC) governs contracts that are made for the sale or the lease of goods. Goods, as we have seen, are movable tangible objects such as vehicles, electronic devices, and
What is the difference between law and morality?
What are the differences among positive law, natural law, and negative rights?
What is ethical relativism?
What is social contract theory?
What are the steps in applying utilitarianism?
What is rational ethics?
What is the dual nature of ethics in government?
What are the arguments supporting social responsibility?
Why is law needed in our society?
How is harmony established between the law and ethics?
The Oklahoma state constitution was amended by a vote of the people to prohibit judges in the state courts from considering any law other than state or federal law in their cases. The new
When former Illinois Governor Rod Blagojevich was on trial, the judge was asked to keep the identities of the jurors hidden from the community. The request was unusual because it violates the legal
Under provisions of the Alien Tort Statute, the federal courts are permitted to hear civil cases involving international law. Following the dictates of that statute, a group of Somali citizens
Some political commentators have argued convincingly that in recent years the United States Supreme Court has shifted from a liberal to a conservative interpretation of the United States
Ethical codes of conduct are helpful standards that develop general guidelines for the conduct of professionals.However, they are frequently limited in their application because of their length,
William Yurchak, vice president of production for Dragonfly Enterprises, was passed over for what he believed was a much deserved promotion to the presidency. Instead of promoting Yurchak, the board
Barbara McMahon is a reporter for The Lake County Press . McMahon is approached by Julie Bryant, a research scientist for the International Chemical Corporation. Bryant, who asks for and receives a
Natural law theory holds that there is no link between morality and law. True/False
Law has nothing to do with civil management. True/False
Ethical decisions are made in a variety of ways. True/False
Utilitarianism focuses on the consequences of an action. True/False
Rational ethics is a form of ethical relativism. True/False
Utilitarianism and rational ethics always reach the same moral conclusion. True/False
Political and personal morality are not the same thing. True/False
The ethic of ultimate ends says that the action itself is right or wrong. True/False
The ethic of responsibility is the ethic of the nation-state. True/false
Cost-benefit thinking will always result in ethical decisions. True/False
Corporations are not allowed to own property. True/False
Some statutes allow corporate managers to consider factors beyond shareholder profits in making business decisions. True/False
The law cannot stop us from doing wrong, but it can punish us if we choose to do wrong. True/False
In a perfect society, ethics and law would always coincide. True/False
The law and the legal system need not be founded on ethical considerations. True/False
One of the essential weapons in the diplomatic arsenal is the guarantee of secrecy. If diplomats cannot be certain that their cables, letters, and dispatches will be kept secret, they will not be
Read the following quotation on the nature of morality. As you read the quotation and reflect on the ideas that the author presents, ask yourself if the position represents your own point of view.
What are the objectives of the law?
How does the law reflect a series of complex dualities?
What are the functions of the articles and the amendments of the U.S. Constitution?
What is the difference between the principle of preemption and the doctrine of devolution?
What is the role of statutory law in the legal system?
Why does this country need to set up a system of uniform state laws?
What is the role of common law in the legal system?
How does the principle of stare decisis provide stability to our legal system?
What is the difference between statutory interpretation and judicial review?
Why does the legislature need to establish administrative agencies?
On the very day that President Obama signed the 2010 Health Care bill into law, the attorney general of Virginia filed a lawsuit in federal district court arguing that parts of the statute were
Karen Silkwood was an employee at the Kerr—McGee Nuclear Power Plant in Oklahoma. During her employment there, she was apparently contaminated by exposure to plutonium. The contamination was so
Richard Ceballos worked as a deputy district attorney for the city of Los Angeles. Ceballos wrote a memo in which he criticized the accuracy of an affidavit in a case that he had been assigned to

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