BUSINESS LAW
Group Work
The group leader will assign each group member a question and each group member will answer the question and return the answer to the group leader. The group leader will grade each member in terms of cooperation and totality of the answer.
Please underline or bold-type important terms, laws and phrases. Note, there is no correct answer. The purpose of this homework is for the student to understand the elements of each subject area of the law. When answering the question, discuss the elements of each law. Be sure to underline or bold type the elements of each law.
A. Contracts
John, age 16, goes to the internet to purchase some computer software. John locates Ace Inc. Computer Software web site. Ace has the software John wants and John places the order by identifying himself and orders two types of software and agrees to pay the price listed on the website. Ace then sends John a letter accepting the offer. When the software arrives at John’s place, John refuses to accept and refuses delivery. After placing the order, John found the same software at a cheaper price. Applying “common law contract principles” was there proper formation of the contract? Was there proper proof of the contract? Are there problems with conditions and performance? Is there a breach? What are the available remedies?
B . Contracts
Erma, a merchant, receives a brochure from Ammco regarding some merchandise that is sold in Erma’s business. Erma then sends in a purchase order ordering 25 units of merchandise (which exceeds $500.00 in value). Ammco upon receipt of the order, sends a letter of confirmation containing additional information which states that the price did not include shipping and insurance costs and that the shipping costs and insurance would be added on to the total contract price. Furthermore, Ammo delegates the obligation of shipping the merchandise to Ecco. While the goods were in transit, the truck was hijacked and all the merchandise, including Erma’s order. Applying “common law contract principles” are there Party issues? Formation issues? Proof issues? Performance issues? Breach and Discharge issues? What are the available remedies?
C. Bankruptcy.
Henry has just graduated from college. After graduation, Henry finds gainful employment. Henry accumulated student loans totaling $45,000.00 and also has a number of credit cards with a total of outstanding debts being $25,000.00. In addition, Henry purchases a new car and also buys a home. Henry is involved in a car accident and is unable to work. Henry incurs mounting medical bills and is unable to pay his debts. Henry contemplates filing a bankruptcy. Henry stops paying his house note, becomes in serious arrearage in all of his debts. Henry transfers his car to his brother for a nominal amount. Henry runs all of his credit cards to the maximum. Henry rents a storage unit under another name to hide some valuable assets. Discuss the above in terms of voluntary/involuntary bankruptcy, what chapter might he be eligible for, estate, trustee, exemptions, distribution, discharge and reaffirmation. Also, be sure to include the “means test”.
Property
What is the definition of “real property”? What rights accrue to the owner of “real property”? What is a mortgage? Discuss the various forms of mortgages.
D. Crimes
Congress passes the “Child On Line Protection Act”, which essentially states that it is a crime to put “obscene material” on the internet with intent to place said obscene material on the internet. Obscene materials is not clearly defined. Oscar, places a “pornographic movie” on the internet which is easily accessible for a fee. Oscar is arrested for violating the “Child On Line Protection Act”. In answering the question discuss the elements of a crime with special emphasis on “constitutional limitations”.
ScholarMatic: Explanation & Answer
Your ready answer from a verified tutor is just a click away for as little as $14.99
Click Order Now to get 100% Original Answer Customized to your instructions!
