The Legal Environment of Business: Text and Cases
9th Edition
ISBN: 9781305764460
Author: Frank B Cross/ Roger LeRoy Miller
Publisher: CENGAGE C
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Chapter 25, Problem 4BCP
Superfund. A by-product of phosphate fertilizer production is pyrite waste, which contains arsenic and lead. From
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A 12-unit apartment building in Newton, Massachusetts was acquired for $8,000,000 with a 70% LTV purchase money mortgage at a 5.25% annual interest rate fully amortizing over 30 years. The new owner substantially improved the building, renovating the exterior and interior. She also implemented several environmentally friendly cost-saving measures, including the installation of solar panels on the roof, that saved energy and reduced operating expenses. After two years, these upgrades and improvements led to a substantial increase in the property’s NOI to $580,000 from a net operating income of $500,000 at the time of the acquisition. What was the acquisition cap rate?
a.7.25%
b.5.25%
c.6.25%
d. 8.25%
In 2011, Sarah Waterston, her brother Michael Waterston, and his spouse Maria Hristova founded Kinsip House of Fine Spirits (Kinsip), a “grain-to-glass” operation that was certified as an artisan distillery.2 By 2020, the business was offering a varied product mix, including nine spirits, two liqueurs, 12 bitters, and maple syrup aged in whisky barrels. During the tourist season of May to late October, the three cofounders offered tours of their farm, operated a tasting bar for the spirits, and managed a store that featured the distillery’s products. The farm also included one of few cooperages in Canada, a point of interest that also emphasized the distinctiveness in Kinsip’s operation and products.
By March 2020, the COVID-19 pandemic had led to a shortage of hand sanitizer, which prompted Kinsip (and many other distilleries) to begin producing this new product. Distilleries already produced ethanol, the key ingredient in hand sanitizer, as part of their normal operation. Kinsip’s…
The City of Dover needs land owned by the Smith family to expand Route 13/North
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Discuss what course of action the city can take and the legal and constitutional
basis for this action.
What, if anything, can the Smith family do in response?
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The Legal Environment of Business: Text and Cases
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- Part II - External Analysis Conduct a PESTEL analysis of Home Depot and make a conclusion. Conduct a Porter's Five Forces analysis. Define the industry of interest. Conduct a Porter's Five Forces analysis. Conduct a 6th force analysis (Identify and explain the 6th force). Conclusion.arrow_forwardAngela Fox and Zooey Caulfield were food and nutrition majors at State University and close friends androommates. Upon graduation, Angela and Zooey decided to open a French restaurant in Draperton, the smalltown where the university was located. There were no other French restaurants in Draperton, and the possibilityof doing something new and somewhat risky intrigued the two friends. They purchased an old Victorian homejust off Main Street for their new restaurant, which they named “The Possibility.”Angela and Zooey knew in advance that they could not offer a full, varied menu of dishes, at least initially. Theyhad no idea what their local customers’ tastes in French cuisine would be, so they decided to serve only two (2)full-course meals each night, one with beef and the other with fish. Their chef, Pierre, was confident he couldmake each dish so exciting and unique that two (2) meals would be sufficient, at least until they could assesswhich menu items were most popular. Pierre…arrow_forwardRead through the scenario below then state how you would rule / decide if you were the Judge on this matter. SCENARIO The Warren family signed an exclusive real estate listing agreement with Detlefsen real estate brokerage to sell their property. The agreement provided that the Warren's were obligated to pay a commission of 5% of the sales price if they sell the property to any person during the term of the exclusive listing agreement. The term of the agreement was six months long running from January 1 of the year through June 30th. Detlefsen marketed the property and secured several offers with the highest offer being $700,000 from Ivy Jones which the Warren's agreed to on May 30th of that year. This sales contract had a provision that in the event of default by the Warren's Ivy Jones only recourse would be a refund of her $10,000 deposit. Subsequently, a friend of the Warren's, Zaine Johnson a person unknown to Detlefsen, found out the Warrens were selling the property and offered…arrow_forward
- Some trade companies exported goods under CIP trade terms, during whole130%transportation process, the folowing risks, losses and expenses occurred:(1) Suffered transport vehicles capsizing during transit from the warehouse to the departure port, and resulted in some goods damage.(2) During the loading of the goods from departure port to the ship, one entire package goods faling on shore, caused goods complete damage, and one entirepackage goods falling into the sea, caused some goods slight damage.(3)The ship sufered tsunami during sailing, the engine couldn't work properly, and the ship couldn't move.I(4)Asked tugboat for rescue, and went to refuge port for repairing the ship, and paid salvage charges and warehousing charges.(5) After repairing the ship, the ship sailed again, but suffered heavy weather, caused damage of some goods in the cabin A.(6) Whereafter, suffered grounding, caused complete damage of fragile goods in cabin B.(7) When the ship arrived at the port of destination…arrow_forwardAngela Fox and Zooey Caulfield were food and nutrition majors at State University and close friends and roommates. Upon graduation, Angela and Zooey decided to open a French restaurant in Draperton, the small town where the university was located. There were no other French restaurants in Draperton, and the possibility of doing something new and somewhat risky intrigued the two friends. They purchased an old Victorian home just off Main Street for their new restaurant, which they named "The Possibility." Angela and Zooey knew in advance that they could not offer a full, varied menu of dishes, at least initially. They had no idea what their local customers' tastes in French cuisine would be, so they decided to serve only two (2) full-course meals each night, one with beef and the other with fish. Their chef, Pierre, was confident he could make each dish so exciting and unique that two (2) meals would be sufficient, at least until they could assess which menu items were most popular.…arrow_forwardexplain thoroughly 3) explain the role of resort facilities. 4) explain the importance of resort facilities.arrow_forward
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- Please explain this statement According to the ACCFA, the FACOMAs were mandated to;Unify efforts of agricultural production, storage and processing of farm products; enhance the bargaining position of small farmers in relation to landlords, middlemen and other social and economic groups or elements; and establish a producer- controlled marketing system that would enable farmers to enjoy the additional income from the marketing ( including storage and processing) of their productarrow_forwardNathalie's house has increased in value due to modification. Which of these most likely describes why this happened to Nathalie's property? It had a nonconforming use, but she was issued a variance. A park and several restaurants were recently built nearby. She refinanced her mortgage. The house is in a desirable geographic location with great views.arrow_forwardClassique Designs sells a variety of merchandise, including school shoes for girls. The business began the last quarter of 2013 with 30 pairs of the “Aerosoles” brand at a total cost of $54,000. The following transactions, relating to the “Aerosoles” brand were completed during the quarter: October 3 Purchased 45 pairs of shoes at a cost of $1,900 each. October 15 Sold 55 pairs to Casually Elegant Ltd at a unit price of $2,780 October 26 Purchased 70 pairs at a cost of $2,400 each but these were subject to a trade discount of 5%. November 10 Sold 60 pairs to Best City Store which yielded total sales revenue of $192,000. November 14 Owing to an increased demand for this brand, the manager of Classique purchased 80 additional pairs of the “Aerosole” brand at a unit cost of $2,500, but additionally there was freight charge of $100 on each pair. November 24 Sold 60 pairs of shoes to Big Buy Company at a price of $3,600 each. November 30 A physical…arrow_forward
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