Case summary: The person JF purchased a baseball card from the person MS. The card was delivered in Nebraska and was kept in a safe-deposit box by the person JF. After 2 years, the person JF sent the card for authentication to PSA, a grading agency, which found the card as ungradable. The person JF informed the person MS, who replied that the card should have been returned within the seven days to the 1-month time period of its receipt. The person JF sent the card to ASA, another grading agency, for the second opinion and got the same feedback. The person JF then filed a suit against the person MS in the state court for damages. The person JF won the case and the person MS made an appeal to the supreme court.
To Find: Assuming that the person JF and MS included a written clause in their deal stating that any defect identified in the card must be notified within 7 days to 1 month of its receipt, then the result of the case and its reasoning.
Trending nowThis is a popular solution!
- If Barney’s employer withholds $11,928 for federal taxes, which is 14% of his gross annual salary, then would Barney owe additional taxes by April 15th of the next year or would he receive a refund, and in either case, by how much?arrow_forwardWhat is a release of liability clause (exculpatory clause)?arrow_forwardQuestions 16 and 17, pleasearrow_forward
- Standard Appliance Co. has an employee pension plan under which Aurelia has worked for 31 years. Aurelia is laid off at age 60, and five years later, she retires and attempts to draw her pension benefits. However, Aurelia is informed that she is not eligible for pension benefits because she had not been working under the Standard Appliance Co. plan at the time of her retirement. Is this correct? Yes, if that is what the Standard Appliance Co. plan specifies. No, since Aurelia worked longer than 10 years for Standard Appliance Co. No, since Aurelia's benefits are vested. Yes, since Standard Appliance Co, only has a responsibility to current employees.arrow_forwardEmilio's Italian Restaurant enters into a contract with Vino winery wherein Emilio's agrees to purchase all the wine that Vino produces for $8/bottle. a. This contract is unenforceable because it fails to specify a quantity in the contract. b. This is an enforceable contract. c. This contract will only be enforceable if every other contract terms is specified in the contract. d. This contract is unenforceable because Vino hasn't given any consideration for selling all their wine to Emilio's.arrow_forwardSue Flay's Cakery promises to pay Oscar Ruitt not to park in a city-designated no-parking zone in front of her store. This agreement is: (Choose all of the correct answers.) Not enforceable because Oscar Ruitt has no legal right to park in a city-designated no-parking zone Not enforceable because Oscar Ruitt never made any enforceable promise to Sue Flay's Cakery Not enforceable because Oscar Ruitt is merely making an illusory promise Enforceable because Oscar Ruit is giving up the right to do something he would otherwise have the right to do Enforceable because Sue Flay's Cakery is offering legally sufficient consideration to Oscar Ruittarrow_forward
- George agrees to sell his 20 foot sailboat to Charlie for $500. The sailboat has a market value of $1000. Charlie agrees to pay $500 for George's sailboat. Charlie's consideration: Question 7 options: A) is not legally sufficient since the consideration is far from adequate. B) is sufficient consideration since in general a court of law will not question the adequacy of consideration. C) None of the above.arrow_forwardNon-forfeiture provisions are included in whole life and endowment policies to assure the policyowner that certain minimum policy benefits shall remain with him even under certain changed conditions. Non-forfeiture values guarantee to the policyowner that A) No death claim will be denied for any misstatement on the application B) Any guaranteed policy values will belong to the policy owner even if premium payments are discounted The face amount of the policy will remain the same even if the insured's health becomes impaired The premium on the policy will remain the same even when another beneficiary D) is added to the policyarrow_forwardRandi buys a toaster. The next morning, when Randi uses it to toast a bagel, the toaster explodes and injures Randi. Who is liable? No one b. The seller only C. The seller and manufacturer d. The manufacturer only a.arrow_forward
- Michael built a calculator (which graphs) using plans Michael found posted on the internet, but he unreasonably didn’t follow the plans when he constructed the calculator. Michael then sold the calculator to Jack who was injured when the calculator exploded because it hadn’t been built according to the plans. After the explosion Jack was taken to the Hospital emergency room (“ER”) where he signed a consent form authorizing Dr. Joe, the ER doctor, to perform a surgical procedure called Surgery X. But, instead Dr. Joe performed Surgery Y, a different procedure than Surgery X. A. What cause(s) of action should Jack use if he sues Michael for Jack’s injuries. Discuss. B. Has Joe, the ER doctor, committed any intentional torts? If so, discuss.arrow_forwardList and define each type of authority: What is a disclosed principal: What is an undisclosed principal: What is an unknown principal: For the above 3 questions, what type of liability would an agent representing the principal have in a contract where the principal backs out of the deal: 29. 30. 31. 32. 33.arrow_forwardOliver, while he was so drunk that he didn’t know what he was doing, bid successfully at an auction for the purchase of a house. It was clear to the auctioneer that Oliver didn’t know what he was doing. However, after Oliver sobered up, he confirmed the contract with the auctioneer. He then subsequently refused to complete the contract. Is Oliver bound to the contract? Required: Answer this question using the IRAC * method.arrow_forward
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education