MindTap Business Law, 1 term (6 months) Printed Access Card for Cross/Miller's The Legal Environment of Business: Text and Cases, 10th (MindTap Course List)
10th Edition
ISBN: 9781337093842
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 2RE
Summary Introduction
Case Summary: SG, a resident of Illinois promoted boxing matches for SP, an Illinois corporation. He created the concept of “Battle of Ages” and tried to sell the idea to a person, GF. The negotiations between SG and GF fell through. GF, a resident of Nevada used the same concept to promote subsequent fights. SG filed a lawsuit against GF in a federal district court.
To find: Exercise of original or appellate jurisdiction by the federal district court.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Stephen began working for a retail distributor in Mandeville two weeks ago. As a Seventh-Day Adventist, his religious beliefs do not allow him to work on Saturdays, a fact which he made very clear to his employers during his interview. Stephen hopes to attend church this Saturday, but was told by his manager that he needed to show up for work instead, as Christmas was “just around the corner.” His manager advised him that everyone needed to come out and that he would be making no exceptions, as Christmas was the busiest time of the year for the company. His employer further warned him that failure to report for duty on Saturday would lead to his immediate dismissal. Stephen was left in a dilemma. On one hand, he could not afford to lose his new job, particularly as he had been unemployed for the last two years. On the other hand, he was upset by his manager’s demands and threats, and felt discriminated against. A co-worker encouraged him to file a complaint with the company, claiming…
While mingling with neighbours at a party, Ato mentions that he is responsible for
evaluating bids for a large computer software contract. A few days later, Ato
receives a lunch invitation from one of his neighbours who also attended the
party. Over appetizers, the conversation turns to the contract Ato is managing.
Ato's neighbor seems remarkably well informed about the bidding process and
likely bidders. Ato volunteers information about the potential value of the
contract and briefly outlines the criteria his firm will use to select the winner. At
the end of the lunch, Ato's neighbor surprises him by revealing that he is a
consultant for several companies in the computer software market. Later that
day, Ato's mind is racing.
Question1 Did Ato reveal information that could provide a supplier with a
1.competitive advantage in the bidding process?
2. What are the potential business risks and ethical issues in this situation?
3.Should Ato report the conversation to someone? If so, whom…
Brendon is the Managing director of a small mining company named “Auspicious metals”. There are two other directors. The company has recently raised $10 million dollars from its shareholders for the purposes of further exploration.
The board decides to purchase a luxury Genesis motor vehicle for each director as well as incorporate a clause in their contracts to have a $500,000 dollar termination payment should any of the directors leave the company.
There is no disclosure of the above payments.
Brendon also gives an exploration contract to his cousin without informing the other directors that he is a cousin.
A shareholder seeks your advice.
Are there any breaches of the Corporations Law? Please detail the relevant sections.
Are there any cases that are similar
Chapter 2 Solutions
MindTap Business Law, 1 term (6 months) Printed Access Card for Cross/Miller's The Legal Environment of Business: Text and Cases, 10th (MindTap Course List)
Knowledge Booster
Similar questions
- The “Compliance with Standards Rule” requires that a member who performs professional services, including consulting services, comply with standards promulgated by bodies designated by Council, regardless of whether the member is holding out as a CPA. The standards applicable to members performing consulting services are set forth in the Statements on Standards for Consulting Services (SSCSs) and specifically state that such standards apply to members holding out as a CPA while providing consulting services. Would a member who does not hold out as a CPA be in compliance with “Compliance with Standards Rule” if the member did not comply with the SSCSs while performing consulting services for a client? Yes or Noarrow_forwardChad Boudreaux is a 58-year riverboat captain. He grew up in New Orleans and has worked on the Mississippi River his entire life. He works for a private company in New Orleans called Crescent River Pilots Inc. (CRP) and is married to Patricia, who is 35 years old. They have a seven-year-old son, named River. CRP sponsors a 401(k) plan that offers a Roth account and a separate ESOP. Chad has the following retirement plan accounts: Account Description Current FMV Beneficiary ESOP account from CRP – consists of CRP shares. The cost basis for the shares is $75,000. $400,000 Patricia 401 (k) Plan From CRP Inc. $800,000 Patricia 401 (k) Plan from Schlumberger, where he worked in his thirties $90,000 Patricia Roth IRA (established in 2000 with a $2000 initial contribution; three years ago he rolled over a traditional IRA with a balance of $10,000 $45,000 Patricia Traditional IRA (established twenty years ago with $15,000 of after-tax contributions)…arrow_forwardI think it's the second one but I'm not sure.arrow_forward
- Phillip is a broker who was hired by Sam to help him find a new investment property. Phillip identifies a property that fits Sam's investing criteria. Sam asks Phillip to do some research and provide him with an opinion of title on the property. Is Phillip permitted to do this? ○ No. This would be considered an unauthorized practice of law. No. Phillip needs his sales associates license in order to issue an opinion of title. Yes. Brokers are always permitted to issue an opinion of title. Yes. As long as Phillip notifies FREC, he can issue an opinion of title.arrow_forwardFrank places a sign in his front year supporting a law which would deport all non-Caucasian immigrants from the U.S. Emily places a sign in her front yard supporting a candidate in an upcoming election. Miguel places a sign in his front yard supporting a law which requires ride-sharing companies (like Lyft) to properly pay their drivers. Assuming their city adopts an ordinance which prohibits all signs being placed in any resident's front yard, who will be permitted to keep displaying their sign? Choose all of the correct answers. A. Frank B. Emily C. Miguelarrow_forwardRiggleman just graduated from college with his Master's in education and philosophy. Looking for his first job to help pay student loans, Riggleman applies for a teaching position at the Roanoke Roman Catholic Church's main high school. Riggleman, not a believer in God, doesn't care what subject he teaches, as long as it pays well. The hiring manager at the church school, Bob Balboa, tells Riggleman the church cannot hire Riggleman for the one open position as an assistant priest position that doubles as a teacher. In that position, the priest/teacher officiates at all of the school's religious ceremonies and also serves as a reduced load teacher (two classes instead of the usual five classes). Balboa tells Riggleman he cannot be considered for the opening because Riggleman is not Roman Catholic. Riggleman sues Balboa for discrimination under Title VII. What is the likely outcome? - Balboa wins because Riggleman does not have standing since he was never an employee Balboa wins because…arrow_forward
- Which of these people is eligible for mutual recognition? Frances lives in Alabama, where she has a sales associate license. Franz lives in Oregon, where he has a broker license. Felicia has a sales associate license in Connecticut, and she has been living in Florida for 11 months. Ferdie is a member of the Florida Bar Association and a resident of Florida.arrow_forwardMartina and Andrew are friends. They both have a keen interest in technology. They decide to form a business to pursue various technology projects, and decide that a company will be the best business structure to adopt. They establish Apricot Pty Ltd. Martina and Andrew are its only shareholders, and they are also its only directors. Martina takes a much more active role in managing the company than Andrew. Andrew relies heavily upon Martine to provide him with information about the company, particularly in relation to its finances, and its dealings with other companies. Andrew does not himself investigate the finances or transactions of Apricot Pty Ltd, other than by relying on Martina to provide him with this information. In June 2017, Martina arranges for Apricot Pty Ltd to purchase a very large quantity of electronics components. The components are acquired from ErinElectronics Pty Ltd, a company that Martina has a significant shareholding in. The transaction generates significant…arrow_forwardWhile mingling with neighbours at a party, While mingling with neighbours at a party, Tyler mentions that he is responsible for evaluating bids for a large computer software contract. A few days later, Tyler receives a lunch invitation from one of his neighbours who also attended the party. Over appetizers, the conversation turns to the contract Tyler is managing. Tyler’s neighbour seems remarkably well informed about the bidding process and likely bidders. Tyler volunteers information about the potential value of the contract and briefly outlines the criteria his firm will use to select the winner. At the end of the lunch, Tyler’s neighbour surprises him by revealing that he is a consultant for several companies in the computer software market. Later that day, Tyler’s mind is racing. Did Tyler reveal information that could provide a supplier with a competitive advantage in the bidding process? What are the potential business risks and ethical issues in this situation? Should Tyler…arrow_forward
- true or false and why? Michael is a worker at a large discount retailer and his wife works at a national bank with several branches. They recently adopted a child and agreed that each would take six weeks of leave from work in order to care for the child. According to the family and medical leave Act, one, but not both, are eligible for leave.arrow_forwardRead the following scenario and answer the question in 5–10 sentences. Fred and Frank have been operating a seasonal outdoor maintenance and landscaping business for the last three years under the name F & F Maintenance. There was no written partnership agreement. During the nonoperational winter months, Fred spends his time in Costa Rica, while Frank stays in town. In January, Frank was approached by an existing customer with a request that F & F build and install a bleacher stadium and football field for the local middle school. Frank advised the customer that, while he had no direct experience with this type of project, he was sure that he could subcontract any work that was needed. Neither Frank nor Fred had any previous experience as a general contractor. Experience aside, Frank signed a contract to complete the project for $200,000, taking a down payment of $50,000 with the remaining amount to be paid after passing inspection. At the inspection, the inspector determined…arrow_forwardJulian is a salesman for Frostee's Ice Cream Company, and he arranges a meeting with a local ice cream store to sell the company's flavors. Julian decides to wear a nice T-shirt and a pair of jeans to the meeting to match the dress code of the store. He starts by conversing with the store manager, who oversees the purchase orders for the store, and they begin builpig rapport. Julian then asks the manager questions about what types of ice cream flavors that customers have been requesting, along with what flavors are never available from the other sellers. He listens to the manager's responses and takes mental note of what the store needs to satisfy their customers. Julian has just completed the phase of the selling process. O presentation approach O prospecting O preapproach O closingarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting 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
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education