Differences among businesses preclude the development of any universal categories of
ethical behavior.
The intent to make a gift requires an intent to transfer title at that time.
Barnes agrees with Morgan to enter into the management of a new subdivision of
residential housing. Morgan appoints Barnes as his manager for the duration of the
development program. During the course of the construction, Barnes decides to use
funds specified for the subdivision for an office space project that Barnes alone has
been interested in completing. Morgan is very angry on learning of Barnes’ actions and
terminates the agency. Barnes insists that the agency cannot be terminated in this
manner. Is Barnes correct?
Consumer protection laws, which commonly regulate the form of consumer contracts,
provide that back-page disclaimers are void if the front page of a contract does not call
attention to the presence of the terms on the back page.
Freezo Refrigerators are sold by various retailers. Most of the same retailers also sell
Icy Refrigerators. The Freezo brand outsells Icy in some stores, but not in others.
Freezo has decided to offer secret bonuses and discounts to retailers where the sale of
Freezo Refrigerators lags behind the sale of Icy Refrigerators. Freezo sees this action as
an advertising ploy to increase market share. Retail stores where Freezo is number one
are not eligible for any of these bonuses and discounts. Discuss the implications of
Freezo€s advertising plan.
The Uniform Partnership Act, a codification of partnership law, has been adopted by 49
states.
In January, a buyer and a seller agreed on the sale of 10,000 pounds of tomatoes to be
delivered on July The contract stated that the seller would set the price on June 15 and
that the buyer would pay the price on delivery. On June 15, the market price of
tomatoes was approximately 75 cents per pound. The seller set the price at $50 per
pound and the buyer demanded that the price be lowered.When the parties could not
agree, a lawsuit developed. The key issue was whether the seller had the right to set the
$1.50 price. Decide.
Under an indemnity contract, one person pays another consideration in return for a
promise to pay a specified sum of money in the event that a specified loss is suffered.