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The Madariagas owned a restaurant where they served " Albert's Famous Mexican Hot Sauce . " They entered into a contract to sell the restaurant and the formula for the secret sauce to Morris . Although Morris paid the agreed - upon price , the sellers refused to give him the recipe unless he also paid them lifetime royalties for the salsa . Which of these remedies should Morris seek : expectation , restitution , specific performance , or reformation ? Why ?
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- Riffe, while serving as an officer of Wilshire Oil Company, received a secret commission for work he did on behalf of a competing corporation. Can Wilshire Oil recover these secret profits and, in addition, recover the compensation paid to Riffe by Wilshire Oil during the period that he acted on behalf of the competitor? Explain.Sam Simpleton, a resident of Kansas, and Nellie Naive, a resident of Missouri, each bought $85,000 in stock at local offices in their home States from Evil Stockbrokers, Inc. (“Evil”), a business incorporated in Delaware, with its principal place of business in Kansas. Both Simpleton and Naive believe that they were cheated by Evil Stockbrokers and would like to sue Evil for fraud. Assuming that no Federal question is at issue, assess the accuracy of the following statements: a. Simpleton can sue Evil in a Kansas State trial court. b. Simpleton can sue Evil in a Federal district court in Kansas. c. Naive can sue Evil in a Missouri State trial court. d. Naive can sue Evil in a Federal district court in Missouri.Melodee Lane Lingerie Co. was a tenant in a building that was protected against fire by a sprinkler and alarm system maintained by the ADT security company. Because of the latter's fault, the controls on the system were defective and allowed the discharge of water into the building, which damaged Melodee's property. When Melodee sued ADT, its defense was that its service contract limited its liability to 10% of the annual service charge made to the customer. Was this limitation valid? [Melodee Lane Lingerie Co. v. American District Telegraph Co., 218 N.E.2d 661 (N.Y.)]
- Assume an agent is given authority by the principal to sell a property. The principal only states that the agent may sell the property and the agent is given no further instructions. The agent reasonably believes that it will be necessary to perform $10,000 worth of improvements on the property in order to sell it. Therefore, the agent contracts to have these improvements made. He/she then sells the property. The principal believes that the improvements were not authorized and refuses to reimburse the agent for the expenses associated with the sale. Discuss the rights and liabilities of the principal and agent. Should the principal be forced to reimburse the agent? If the principal continues to refuse to reimburse the agent, what action may be taken by the agent? If the parties were to engage in a lawsuit, who would win? Why? If the answer depends on information not provided in the scenario, specify what further information one would need to render a firm opinion.Greg, a consumer in Tennessee, sent a purchase order to Campbell Manufacturing, a U.S. company, for a 4000 PSI gas pressure washer valued at $1275. Greg needed a new pressure washer for his part time business of washing houses. The order did not specify how disputes between the parties would be settled. Campbell returned a definite, unconditional acceptance that contained one additional term which stated that disputes must be submitted to arbitration. Greg received the acceptance; however, he never agreed or objected to the additional term. Campbell orally contracted to sell 15 pressure washers to London Painting Company a large commercial painting company in France. Explain the status of the contract between Greg and Campbell. If a contract was formed, did the additional term in the acceptance become part of the contract? Is the contract between Campbell and London legally enforceable? (Additional research outside of the textbook may be necessary).William Carlton was the sole shareholder in ten New York City corporations, including Seon Cab Corporation. Each corporation owned two taxicabs, and each cab was covered by the minimum $10,000.00 automobile liability insurance required under New York State law. A taxicab owned by Seon Cab Corporation struck and severely injured John Walkovsky, who sued for damages. Walkovsky named all ten corporations, Carlton individually, as well as the individual driving the cab that hit him, as defendants. The plaintiff alleged that the corporations, although seemingly independent of one another, operate as a single entity, unit and enterprise with regard to financing, supplies, repairs, employees, and garaging. The plaintiff asserted that the multiple corporate structure constituted an unlawful attempt to defraud members of the general public who might be injured by the cabs. He sought to hold Carlton, the sole shareholder of each corporation, personally liable for his injuries. 1. Is there…
- Treasure Salvors and the State of Florida entered into a series of four annual contracts governing the salvage of the Nuestra Senora de Atocha. The Atocha is a Spanish galleon that sank in 1622, carrying a treasure now worth well over $250 million. Both parties had contracted under the impression that the seabed on which the Atocha lay was land owned by Florida. Treasure Salvors agreed to relinquish 25 percent of the items recovered in return for the right to salvage on State lands. In accordance with these contracts, Treasure Salvors delivered to Florida its share of the salvaged artifacts. Subsequently, the U.S. Supreme Court held that the part of the continental shelf on which the Atocha was resting had never been owned by Florida. Treasure Salvors then brought suit to rescind the contracts and to recover the artifacts it had delivered to the State of Florida. Should Treasure Salvors prevail? Explain.Smith, having contracted to sell to Beyer thirty tons of described fertilizer, shipped to Beyer by carrier thirty tons of fertilizer, which he stated conformed to the contract. Nothing was stated in the contract as to time of payment, but Smith demanded payment as a condition of handing over the fertilizer to Beyer. Beyer refused to pay unless he was given the opportunity to inspect the fertilizer. Who is correct? Explain.Cari enters a single-agency relationship with a listing broker, who owes her full disclosure and loyalty. The listing broker then finds Buyer Bonnie who wants that same broker to represent her in a transaction broker relationship, providing Bonnie with certain duties such as limited confidentiality. Can the broker represent Cari in a single-agency relationship AND represent Bonnie as a transaction broker in the same transaction? No, because offering Bonnie limited confidentiality would conflict with the full disclosure already owed to Cari. Yes, but only if the limited confidentiality owed to Bonnie is needed to fulfill Cari's objective of selling the property. Yes, as long as the broker tries to be fair to br + parties.
- El Dorado Tire Company fired Bill Ballard, a sales executive. Ballard had a five-year contract with El Dorado but was fired after only two years of employment. Ballard sued El Dorado for breach of contract. El Dorado claimed that any damages due to breach of the contract should be mitigated because of Ballard’s failure to seek other employment after he was fired. El Dorado did not provide any proof showing the availability of comparable employment. Explain whether El Dorado is correct in its contention.David E. Ross, his two brothers, and their families operated and owned the entire stock of five businesses. Ross had three children: Rod, David II, and Betsy. David II and Betsy were not involved in the operation of the companies, but Rod began working for one of the firms, Equitable Life and Casualty Insurance Company, in 2007. Between 2009 and 2013, the elder Ross informed a number of persons of his desire to reward Rod for his work with Equitable Life by giving him stock in addition to the stock he would inherit. He subsequently executed several stock transfers to Rod, representing shares in various family businesses, which were reflected by appropriate entries on the corporate books. Certificates were issued in Rod’s name and placed in an envelope identified with the name Rod Ross, but they were kept with the other family stock certificates in an office safe to which Rod did not have access. In all, one-fourth of the stock holdings of David E. Ross were transferred to Rod in this…Johnson, who owned a hardware store, was indebted to Hutchinson, one of her suppliers. Johnson sold her business to Lockhart, one of Johnson’s previous competitors, who combined the inventory from Johnson’s store with his own and moved them to a new, larger store. Hutchinson claims that Lockhart must pay Johnson’s debt because the sale of the business had been made without complying with the requirements of the bulk sales law. Discuss whether Lockhart is obligated to pay Hutchison’s debt to Johnson.