Explore the fundamental entitlements granted to a bailor within the context of a bailment agreement.
Q: Gary contracts with Dan to buy Dan a new car manufactured by General Motors Corporation (GMC). GMC…
A: Answer : Correct answer is (a) - an intended beneficiary. Gary contracts with Dan to buy Dan a new…
Q: Provide a circumstance and explanation of how the "employment at will" doctrine is not applicable.
A: The complicated framework of laws governing the detailed relationship between employers and…
Q: John works as an engineer for a technological company, and Maria works as a sales executive for a…
A: For financial experts to preserve their credibility and reliability, the criterion of independence…
Q: After the untimely death of his partner Anthony Autumn, Scott Schroder continued his San Francisco…
A: Agency business is a type of commercial activity in which one entity, referred to as the agent,…
Q: Merrill Lynch employed Post and Maney as account executives. Both men elected to be paid a salary…
A: Case: ML has employed P and M on the role of account executive on the employment terms includes…
Q: Should the sole shareholder of an S corporation be able to avoid liability of the torts of his or…
A: Vicarious liability is the liability that lays with another person because of the acts of his/her…
Q: Sally and Tom decide to go into business, selling discounted merchandise through their website…
A: A code of ethics in business is a collection of guiding principles which are created to ensure a…
Q: Determine a common bailment you perform almost every day. What type of bailment is it? Is there an…
A: The legal arrangement in which one person (the bailor) gives another person (the bailee) possession…
Q: Discuss the extent to which a director should be held liable for breaching his or her duty of care…
A: A corporate director is an elected or appointed member of the board of directors of an organization,…
Q: On Chapter 12, Recognizing Employee Contributions with Pay; define Principal and define Agent. Also,…
A: Employee contributions with pay are essential to be recognized by any company. It helps in knowing…
Q: Examine the basic elements in wills, estates, and trusts.
A: The term estate planning refers to a process that is used to decide how the assets of a person will…
Q: Give three (3) examples of implied revocation of an agency. Discuss each example thoroughly
A: Implied revocation of an agency refers to the termination or cancellation of an agency relationship…
Q: What are the differences between real and personal property?
A: Everything that is held by a person or organization, whether it is physical or immaterial, is…
Q: True or False A Sole Proprietorship, owned by one person, is a form of business organization that…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…
Q: Jamie, who works as a conveyancer at your organisation, was acting on behalf of a client who was…
A: Jamie's actions of accepting kickbacks from the developer while recommending their services to a…
Q: Leslie Bergh and his two brothers Milton and raymond, formed a partnership to help build a fancy…
A: In a partnership, all partners are jointly and severally liable for the actions of any one partner.…
Q: Donald Wayne Doyle (Debtor) obtained a guaranteed student loan to enroll in a school for training…
A: The above case is about a person named D as due to D’s impending divorce, D took out a student loan…
Q: The Partnership Act 1890 section 24 sets out rights of partners (in default of their own agreement).…
A: Partnership refers to the type of business in which two or more persons make forma agreement to…
Q: Explain the elements of a valid contract. essay type
A: A contract is a legally binding agreement between two or more parties, enforceable by law. The…
Q: Give typing answer with explanation and conclusion In Pierce v. Ortho Pharmaceutical, the N.J.…
A: "The solution has been provided in a generalized Manner." Pierce v. Ortho Pharmaceutical is a…
Q: Explain the circumstances under which you feel a consumer bankruptcy is appropriate, and when the…
A: Consumer bankruptcy - Bankruptcy is a legal proceeding that is initiated when an individual or…
Q: What are the difference between casual and legal confidentiality?
A: Confidentiality refers to the non-disclosure of any confidential information in the workplace. In…
Q: Michelle took out a $900,000, 30-year mortgage. After 30 years, Michelle paid a total of $1,330,000…
A: The objective of the question is to find out how much Michelle paid in interest over the life of the…
Q: . Explain what constitutes an act of bankruptcy according to canadian law
A: Key references: Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3). (2024). Retrieved from…
Q: Kayla, a property owner, loses an acre of her land to adverse possession. She is surprised this was…
A: The objective of the question is to explain how a property owner can lose ownership of their…
Step by step
Solved in 3 steps
- SECTION D Read the following extract and then answer the question belowA client is interested in setting up a business and does not know which form of business to use. He has been told that he can form a sole proprietorship, or partnership, or a limited liability company. He comes seeking for business advises on the advantages and disadvantages of a registered company. Make a comparison between a sole proprietorship, partnership, and a limited liability company."Lillian Pritchard was a director of Pritchard & Baird Corporation, a business founded by her husband. After the death of her husband, her sons took control of the corporation. For two years, they looted the assets of the corporation through theft and improper payments. The corporation’s financial statements revealed the improper payments to the sons, but Mrs. Pritchard did not read the financial statements. She did not know what her sons were doing to the corporation or that what they were doing was unlawful. When Mrs. Pritchard was sued for failing to protect the assets of the corporation, she argued that she was a figurehead director, a simple housewife who served as a director as an accommodation to her husband and sons. Was Mrs. Pritchard held liable?"under the NCC, what are the different acts or omissions of the obligor or debtor which will result in the breach of the obligation for which he can be held liable for damages?
- In 2001,Troy Stubblefield, the owner of Shreveport Air Tools, a company that sold equipment for the petroleum, automotive, and construction industries, was prompted to create an online business when he lost one of his major customers to an early online retailer. Online retailing was a new and risky prospect at the time, but Troy was an early adopter of the business model. Lacking the necessary technical skills to create an e-commerce website, he turned to his son Ryan, who set up the first ToolTopia.com site. Relatively soon afterward, they realized their best option was to function as an affiliate, which meant they processed orders and askedb their suppliers to actually fill the orders. The Stubblefields needed people with technology and sales skills to grow ToolTopia.com and eventually they replaced their part-time help with a combination of full-time and part time employees. As the company grew, it also become a virtual workplace, with employees working from various locations and…How does the concept of constructive bailment arise and what are its implications in legal cases?Olav starts Power Cells to make and sell batteries. Later, Olav contracts with Quinn to invest additional capital in the firm in exchange for 25 percent of the profits. Olav and Quinn are not partners in Power Cells because
- John works as an engineer for a technological company, and Maria works as a sales executive for a competitor business. Maria reminded John that her profession contains sensitive information, and she cautions him not to reveal anything he learns from her work to anyone. While attending a conference, John overheard two executives from Maria's company discussing a new product launch. He chooses to buy a modest amount of Maria's company's shares, intending to profit from the predicted increase in the company's stock price following the product launch. John double-checked his company's regulations to ensure that there was no conflict of interest or limitation on the purchase. However, as a result of unanticipated factors, the product introduction was delayed, and the stock price of Maria's company fell instead. Instead of the predicted profit, John's investment resulted in a loss. Question : In the view of conflict of interest of ethics in financial analysis, state the key points of the…A bailment is a transfer of possession of personal property without a transfer of ownership; the receiving party agrees to return the property at a later time. Bailor is the owner and transferor of the goods. Bailee the party accepting possession of goods from a bailor. Sub-bailee is the party who received the property from the bailee. John, whose mother’s name, Maria, died. He contacted the funeral home, Thompson Funeral Home, to have the body of his mother cremated and her ashes stored in an urn. The urn was to be held until after the father of John died before deciding of what to do next. Four years later, the father of John died. The funeral home cremated the remains and placed them in another urn. The funeral home sought the instruction of John about what to do with two urns, but John was still unsure where he wanted to bury them. Later, John instructed the funeral home to send the urns to Westside Cemetery for burial in common grounds. Common grounds involve storage vault without…Sam owes Nick $200,000. Sam goes to Chase bank to take out a loan of $200,000 so he can pay off his debt to Nick. Chase agrees to make the loan but breaches its contract with Sam. Sam then defaults on his loan to Nick. Nick sues Chase bank because they breached their contract with Sam. What is the probable outcome of Nick’s suit against Chase?
- Anthony wishes to start a business and his cousin offers him a loan of $10,000 at 4% interest to be repaid in two years. The loan amount, interest rate and repayment period are all put down in an email between Anthony and his cousin. Anthony soon takes steps to start his business by conducting market research, developing a business plan, choosing a business structure, registering his business and obtaining licenses and permits. However, his cousin fails to provide the funds and Anthony now must borrow from the bank at much higher commercial rates. Anthony wants to know whether he can sue his cousin for breach of contract. 1. To determine whether there is a breach of contract by Anthony’s cousin, Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Business contracts may contain exclusion clauses as a means of limiting or excluding liabilities. Explain what is meant by the term “exclusion clause” and how case law and statutes regulate the use of such clauses in business contracts.Snitch, an officer of Undergrowth Corporation, tells Gumst about fraudulent dealings going on within Undergrowth, and urges Gumst to investigate the matter. Gumst begins to investigate and he discovers wrongdoing. During the investigation, he mentions to his friend Jittery some of the facts he is uncovering in his investigation. Jittery, who owns some stock in Undergrowth, sells it immediately and thus avoids the huge downswing in share price that ensues when the results of Gumst's investigation are announced. Has Gumst engaged in insider trading? No, because only the person who actually buys or sells the stock can commit insider trading. O No, because neither Snitch nor Gumst had any motive of personal gain. O No, because he was not an officer, director, or major shareholder of Undergrowth. Yes.