BUSINESS LAW
BUSINESS LAW
17th Edition
ISBN: 9780357007594
Author: Mann
Publisher: Cengage Learning
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Chapter 4, Problem 10CP
Summary Introduction

To discuss: Whether the given situation is a due process of law and person E’s action considered as an action of state.

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New West Fruit Corporation (New West) and Coastal Berry Corporation are both brokers of fresh strawberries. In the second half of 2012, New West’s predecessor, Monc’s Consolidated Produce, Inc., loaned money and strawberry plants to a group of strawberry growers known as Cooperativa La Paz (La Paz). In September 2012, Monc’s and La Paz signed a “Sales and Marketing Agreement” to allow Monc’s the exclusive right to market the strawberries grown by La Paz during the 2012–2014 season. The agreement did not mention the advances of money or plants, but did give Monc’s a security interest in all crops and proceeds on specified property in the 2013–2014 season. The financing statement was properly signed and filed. Monc’s closed down in January 2014, and its assets were assigned to New West. In April, New West learned that La Paz had agreed to market its 2014 crop through Coastal Berry. New West immediately arranged a meeting to advise the Coastal Berry officers of its contract with the…
Joshua acquired bulk onions as an agent for Sheriffe but couldn’t ship them due of a storm and damaged port infrastructure. Joshua was unable to contact Joshua owing to an interruption in the telecommunications infrastructure, so he sold the onion to a grocery chain and abandoned the rest, which started to rot. Sheriffe has sustained a big loss and is considering suing Joshua to recoup part of it. Advise Sheriffe on the possibilities of recovering lost revenue in this situation.
Liability for a Lost ATM Card Joshua Franz, of Oxford, Mississippi, earned $4,600 during the summer and put $3,000 of the money in a newly opened savings account for use during the school year. It is now November 4th and Joshua went to the bank to withdraw some cash. The teller informed him that there was only $2,100 in the account. When Joshua protested, the teller informed him that there had been three ATM $300 withdrawals from the account on the last day of the month in August, September and October. Joshua typically neglects to open the statements he had received on the third day of each month. When he got home he could not find the ATM card he had received when he opened the account in August and recalled that he had found his car door open in his parking lot in late August but had thought nothing was taken. When he opened the statements he saw the record of each of the withdrawals. He went immediately back to the bank to tell them of the loss. How much money will Joshua lose…
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