Assignment 1

Discussion 75-150 words (one reference)

The United States has some of the most lenient toward debtors (at least for business owning debtors) bankruptcy laws in the world. Do you think this is a good system? Why or why not?

Assignment:

Steve owns a car. He decides that he needs a loan in order to improve his house, so he goes to Liv. He agrees to give Liv a security interest in the car in exchange for $4,000. Two weeks later he decides that he needs more money.

He goes to Dane. He gives Dane a security interest in the car in exchange for $10,000. Dane files a financing statement to perfect the interest. A week after that Liv does the same. Eventually, Steve defaults in his payments. The car is reposed, and it is sold for $3,000. How much money will Dane receive? How much money will Liv receive?

Your paper should be 1-2 pages in length (double-spaced, with one inch margins all around). Be certain to explain and support your answer.

Assignment 2 ( please answer each with 100 words or more)

1. Steve buys a house from Jim. There is no written contract. However, Steve pays the purchase price, moves onto the property, and begins to build a new garage. Jim seeks to evict Steve from the property stating that there was never a valid contract. Is Jim likely to succeed? Why or why not?

2. Tony contracts with Paulie for Paulie to build him a house. They contract for a particular brand of pipes to be used. However, Paulie decides to use a slightly cheaper brand that is of a slightly lesser quality. Tony claims that this breach of the contract allows him to avoid the contract. Is he correct?

3. Frida agrees to sell a car to Johnny for $900. However, Johnny reneges on the written contract. Frida is able to find another buyer for the car at $700. What damages may she recover from Johnny?

4. What are the three main types of warranties under Article 2 of the UCC and how are they created?

5. What kind of contracts are covered by Article 2 of the Uniform Commercial Code?

6. Name the characteristics that are protected against discrimination by Article VII of the Civil Rights Act?

7. Nymeria buys a promissory note off of Yolanda for $300. Nymeria buys the note in good faith, and she is unaware of the fact that Yolanda secured the note from Georgia through Fraud in the Execution. Nymeria seeks to enforce the note. Can she?

8. In what ways do administrative agencies perform the functions of all three branches of government?

9. What oversight can each branch of government provide over administrative agencies?

10. What is the difference between Article I and Article II of the Sherman Act?

Assignment 3

Consider how the world of business interacts with the legal realm. What skills does a non-legal person need as an employee?

What legal training do you feel a businessperson needs in order to make good decisions? Please refer to U.S. Bureau of Labor Statistics. What (non-legal) positions there require a more than average understanding of legal issues?

What are the average salaries of those personnel? Do you think you would enjoy liaising with legal personnel for a business? Feel free to enliven this discussion with personal experience.

Your paper should be 1-2 pages in length (double-spaced, with one inch margins all around). Be certain to explain and support your answer.

Discussion 75-150 words (one reference)

What is budgetary slack? What incentive do managers have to create budgetary slack?