Business Law Case Scenario Essay

Luke is an employee of ABC Company. He has been assigned to a construction of an adult entertainment retail store within a neighborhood his brother, Owen, lives in. The development of the retail store has not been made public yet and will be announced one month from today. This announcement will decrease the property values of the surrounding areas significantly. Owen is trying to sell his house. He told Luke that he recently received an ‘okay’ offer. However, in hopes that a better offer might be present itself in a few years after the real estate market improve, he has not taken the offer yet. Luke is very close to his brother, which makes him concerned about his confidentiality obligation to ABC Company.

Enforceable contract Peter v. Don. Peter will have an enforceable contract with Don if he can show that all the required elements of a contract are present. If there is a contract between the two then it will be governed by the common law requirements of an enforceable contract instead of the Uniformed Commercial Code, which would be used if their agreement had involved the sale of goods. In order for a contract to be formed between Peter and Don the two must react mutual consent Mutual consent can generally be formed through the form of an (A) offer and (B) acceptance. An additional requirement for both parties to show (C) consideration is also

Though we did not get into the specific requirements of the letter, it should include, among other things, a statement that their child has an IHP and may qualify for disability protections, offer to a meeting to discuss evaluations, and include a copy of their Section 504 procedural safeguards.

In order to advise Billy in whether he is entitled to the extra $20,000 and a share in the farm, the key facts and relevant issues must be examined to determine if the elements of a legally binding contract exists. Whether there was an agreement and intention to create legal relations between the two will be used to determine whether Choy has breached a contract between the two. If a contract is found to

Case 9 deals with a homeowner (the principle) who lists her property for sale and enters into an agreement with an agent to facilitate a sale with a third party. Over the course of the agency agreement a prospective buyer inspected the property but didn’t make an offer before the agency agreement expired. The legal issue that arises comes after the agency agreement expires. The prospective buyer later decided to put in an offer, which was accepted, but once discovering that the agreement between the principle and agent had expired brought legal action against the agent.

c. Only after conduct that shows the buyer 's willingness to become owner of the goods.

She dialed the number. “Park County Realty, Vern Wilson speaking” the voice answered. Cheyenne identified herself and the property of interest. “Is it still available?” she inquired. “I’m sorry ma’am, that property is under contract just this morning. But I do believe a similar and even nicer property will be available soon. It’s across the valley a little bit and it’s really nice. I believe the asking price will be about $85,000.” Cheyenne asked if there were more similar properties available in the area. “Well ma’am, out here, “in the area” is a relative term. If you don’t have to be right in the valley, there are several others available in similar price ranges” the agent said. Cheyenne clarified her requirements and the agent affirmed “Yes ma’am, I think most of them would fit the bill.” “Let me get back to you in a few days. I would like to schedule a trip to see the properties” Cheyenne told him. “Just let me know when you’re coming. I will sure be delighted to show them to you ma’am” Vern replied. As she hung up the phone, Cheyenne felt as though she could conquer the

On August 06, 2006, via telephone, Partner-D made the initial call to Partner-W as suggested by Goodfriend. Partner-W introduced herself as a licensed mortgage broker, working for Company-C, and that she was successful at finding affordable housing without the use of a real estate agent. Party-W was certain there were plenty of people to rent out any property obtained; that buying in the area required minimum down; a profit would occur within a year and the house would pay for itself. During this event, PartnerW was using interest-based persuasion (Shell et al., 2007) while at the same time, used the power to educate (Ury, 2007). Partner-W started out by identifying Partner-D’s interest and/or purpose for buying property, which was clearly defined (Fisher et al., 1991). And it was further determined, by the use of integrative bargaining, it would be a win-win situation and would create a shared goal for mutual gain (Fisher et al., 1991). Partner-D would be gaining extra income; and Partner-W would gain commission for the sell of the property. Partner-D went to the balcony to think about the information provided (Ury, 2007). Overall, the idea seemed like a good idea and Partner-D felt she was in good hands

Mutuality of obligation-This refers to the parties’ mutual understanding and also assents in expressing their

Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."

Please answer the questions posed at the end of each case study in essay form.  Each essay will be judged on your capacity to present strong, logical discussions that support your conclusions.

The question before the court was the stage of the purchase where the offer was accepted. The court also inquired into whether a

The second requirement that needs to be fullled by the parties in the contract is the

Luke has been asked to work on a project that involves developing land recently bought by ABC to build an adult entertainment retail store. According to the plan, Luke’s brother, Owen, whom he is very close to, lives in the neighborhood that the adult entertainment retail store plan will be built. Luke knows that as soon as the plans for the store become public, the property value of the homes in Owen’s neighborhood are expected to decrease significantly. Luke is concerned about his confidentiality obligations to the company. Owen has openly expressed to Luke that he has thought about putting his home on the market for sale; this is concerning for Luke. He knows that Owen has received and acceptable offer for his home already, but wonders if the market for real estate in the area will increase in the next few years.

The majority, if not all, of the leads that the management distributes to the four agents of the office are for people that cannot or do not want to buy property and management knows this. There is a possibility for this strategy to be one that challenges the sales skills of the agents, but in this context, it is just another example of the unethical behavior practice and propagated by the management. Blake (Alec Baldwin) additionally shows unethical practices by verbally abusing the agents because of the lack of sales. This is an unethical as well as ineffective strategy to motivate subordinates.