Business Law Assignment.

BUSINESS LAW

A. Contracts

John, age 16, goes to the internet to purchase some computer software. John locates Ace Inc. Computer Software web site. Ace has the software John wants and John places the order by identifying himself and orders two types of software and agrees to pay the price listed on the website. Ace then sends John a letter accepting the offer. When the software arrives at John’s place, John refuses to accept and refuses delivery. After placing the order, John found the same software at a cheaper price. Applying “common law contract principles” was there proper formation of the contract? Was there proper proof of the contract? Are there problems with conditions and performance? Is there a breach? What are the available remedies?

B. Contracts

Erma, a merchant, receives a brochure from Ammco regarding some merchandise that is sold in Erma’s business. Erma then sends in a purchase order ordering 25 units of merchandise (which exceeds $500.00 in value). Ammco upon receipt of the order, sends a letter of confirmation containing additional information which states that the price did not include shipping and insurance costs and that the shipping costs and insurance would be added on to the total contract price. Furthermore, Ammo delegates the obligation of shipping the merchandise to Ecco. While the goods were in transit, the truck was hijacked and all the merchandise, including Erma’s order. Applying “common law contract principles” are there Party issues? Formation issues? Proof issues? Performance issues? Breach and Discharge issues? What are the available remedies?

C. Secured Transaction

Arthur is in immediate need of cash. Arthur was involved with an accident where the other party was at fault. Arthur has a pending suit against the other party. The suit has been filed. Arthur goes to a finance company and the finance company agrees to lend Arthur $10,000.00 and to use the suit as collateral. They prepare a financial statement containing all the relevant information. However, the finance company does not file the financial statement with the Recorders Office. Arthur then goes to another finance company and the second finance company using the same suit loans Arthur $20,000.00. Furthermore, the second finance company states in the financial statement that “any property purchased by Arthur with said funds shall be used as collateral to satisfy the loan. Arthur purchases a new car with the funds. The second finance company files the financial statement with the Recorder’s Office. Arthur then sells the new car to Henry for a reasonable price. Please discuss the relevant topics in terms of collateral, attachment, perfection, priority and exemptions.

D Bankruptcy.

Henry has just graduated from college. After graduation, Henry finds gainful employment. Henry accumulated student loans totaling $45,000.00 and also has a number of credit cards with a total of outstanding debts being $25,000.00. In addition, Henry purchases a new car and also buys a home. Henry is involved in a car accident and is unable to work. Henry incurs mounting medical bills and is unable to pay his debts. Henry contemplates filing a bankruptcy. Henry stops paying his house note, becomes in serious arrearage in all of his debts. Henry transfers his car to his brother for a nominal amount. Henry runs all of his credit cards to the maximum. Henry rents a storage unit under another name to hide some valuable assets. Discuss the above in terms of voluntary/involuntary bankruptcy, what chapter might he be eligible for, estate, trustee, exemptions, distribution, discharge and reaffirmation. Also, be sure to include the "means test".

E. Property

What is the definition of "real property"? What rights accrue to the owner of "real property"? What is a mortgage? Discuss the various forms of mortgages.

F. Unfair Competition

MC was a famous entertainer. MC estate is owned by his surviving spouse, Mary. Mary has formed MC, Incorporated, and the major asset of the MC Inc is the MC name. Mary did some research on the life and times of MC and published the article in the MC Inc. magazine. A local newspaper reprinted the article in total in their paper. Also, a local business is selling tee shirts under the MC name (with his pitcher on the tee shirt) and also the tee shirts depict MC as a major drug user and criminal. In addition, the business alleges that MC Inc. is nothing but a criminal enterprise.

G. Tort

Arthur has just graduated from CSUSB. Arthur has a number of employment opportunities. Arthur decides to discontinue his relationship with Wilma. Wilma become very upset. In retaliation, Wilma goes to Arthur's Facebook account and places information on the account that Arthur was caught cheating on an exam, was arrested for drunk driving and had misappropriated another students work and turned it in for a grade.. All of which is untrue. Also, Wilma placed some pitchers of Arthur that were extremely embarrassing and when the pitchers were taken, the pitchers were never intended to go public. Potential employers review Arthur's Facebook account and decide not to employ him. Discuss

H. Crimes

Congress passes the "Child On Line Protection Act", which essentially states that it is a crime to put "obscene material" on the internet with intent to place said obscene material on the internet. Obscene materials is not clearly defined. Oscar, places a "pornographic movie" on the internet which is easily accessible for a fee. Oscar is arrested for violating the "Child On Line Protection Act". In answering the question discuss the elements of a crime with special emphasis on "constitutional limitations".

I. Property

Discuss conveyance of real property in terms of deeds, financing, title examination, inspection, escrow, recordation and closing.

J. Property.

Discuss the various forms of property ownership and provide examples of each.