Marshall Peterson's Business Practices And Ethics

* Minors are defined as individuals under the age of majority to contract. This is the age at which a person is entitled to the management of his/her own estate (18 in most states).

family owned business. The business is a produce company with two locations in Florida. The

I then learned that Petersen had told my son, a 17 year old delivery driver, that signing the contract was, “’just a formality’” (Contracts Analysis Case Study, n.d.).

So during peterson's life growing up. Peterson had watched his older brother get killed by a drunk driver it was a traumatic moment in his life but he soon overcame this trama with hard work and adversity. Peterson family was very bad son 6 months after his brother died his father was arrested for money laundering in

In place are laws of binding contracts to protect ones such as the 12 year old.

In the Valencia case the minor entered into a contract crucial to the operation of his trucking company. At the

Yes. When a 16-year-old enters to unenforceable contract with a production company, such contract is valid at a sixteen-year-old’s election.

The Grape producer which was my wife’s Sunday school teacher and I entered a professional business relationship after I revealed to him that I was interested in expanding and growing my business by adding new product lines. Subsequently, he introduced me to the Muscadine products that his family produced, resulting with me sampling the products and ultimately because of the product line success, I increased shipments and heavily promoted the items with marketing and advertising. Moreover, because of the Grape Producer’s ability to supply me with all the product I needed when I needed it, and at the consistent prices over the last 6 months I decided to formalize our implied contract in which both merchants provided product for payment without a formal written contract (Kubasek et al., 2016). Nonetheless, because of the trust for the Grape Producer’s outstanding record of integrity through actions and words reveals “let your yes be yes or no be no; and anything more than that comes

ting that Peterson has a business relationship with his accountant more than just relating to accounting (as stated in class is important)

Although Blake was a minor and lacking in parental consent at the time he signed the contract with WP, the contract is likely valid under Texas law, and thus subject to interference. Each of the elements of a valid contract are undisputedly present in Blake’s agreement with WP: an offer, an acceptance in strict compliance with the terms of the offer, a meeting of the minds, consent by both parties, and execution and delivery of the contract with the intent that it become mutual and binding on both parties. See Stewart & Stevenson, LLC v. Galveston Party

The legal issues that are present are: breach of contract caused by the family owned produce, the validity of the contract signed by a minor, and the authorization that minor possessed in relation to the company. The family owned produced breached their duty of care to me by trying to renege on the newly formed obligations between my store and them. By attempting to drop me from their clientele, they have not performed the promised agreements to which the son signed to. Another legal issue is the validity of the contract that was signed by a minor. As mentioned previously, if ever a signing party or parties were under the legal majority age (18 years old), that party has the right to withdraw from their obligations prior to 30 days after their 18th birthday. If the son had of done this, I would not have seek out any litigious actions against the family owned produce. By withdrawing before this time frame, no legal agency or entity will see any grounds for me having the right of recovering any damages made by their actions. However, since the son did not withdraw from the obligations, nor did the family

Although the son of the grape producers was only 17 years of age, Marshall Peterson propositioned the son of the grape producers to sign the contract. In addition, Marshall Peterson failed to disclose the contents of the document to the son of the grape producer during a routine delivery of Muscadine grapes. However, Marshall Peterson understands this contract to be legally binding. Furthermore, Marshall Peterson has benefitted from superior sells due to the addition of Muscadine grapes in his health food store. As a matter of fact, the invoices received at each delivery state that all payments must be paid within a time frame of 30 days of delivery, however, the grape producers have graciously allowed Marshall Peterson to pay the balance as late as 60 days past delivery, with no penalties. As far as Marshall Peterson is concerned, the business

The company fortunes had grown and therefore buying out a partner wouldn’t be a cheap affair. Peterson therefore; started scanning through his finances and checking out his financial muscles to see whether he could afford to buy out Scott from the company. Financing such an endeavor would need a lot of financial backing since none of the two had the sole capacity to accomplish it alone. Therefore, sources of finances to use would come from financial institutions such as banks using their personal assets as collaterals. Scott had a brother in-law who would be able and willing to help him finance to buying out of Peterson when it got to that point.

Looking at this situation where you sold your car to a minor and after a month they bring the car back to you with a few damages on the side and wanted their money back. You would in fact have to give the seventeen year old his money back since he is still a minor. The reason why I would have to give his money back to him is because the fact he is a minor he has the ability to make a contract voidable. That’s why in class we mentioned several time not to enter a contract with someone who is a minor. The best way to avoid this situation especially with someone buying a car from you is to have one of the parents sign the contract as the primary buyer and they minor as the secondary buyer so that they don’t have the ability to return the car within

As society progresses in the advancement of technology, science, self-efficiency, the dichotomy of church and state increases in its separation. However, these advancements do not delete the moral dilemma man faces daily. Man no longer looks towards a higher power as a source of reason, truth, and morality, but rather looks to him/herself, basing their decisions on fallible human reasoning. Modernism, as the dominant worldview, is now the source of explanation, relying on human reasoning as the reference point in all areas of life, including vocation and business practices.