bus-law-help

 

For each question you answer, please state the following:
legal issue (if not identified in the problem)
legal rule
analysis or application of the rule to the facts
your conclusion

 

BE SURE TO PROVIDE COMPLETE RULES AND ANALYSIS.

 

 

1.                   

 

Lynn and Jack jointly own shares of stock of a corporation, have a joint bank account, and have purchased and own as tenants in common a piece of real estate. They share equally the dividends paid on the stock, the interest on the bank account, and the rent from the real estate. Without Lynn’s knowledge, Jack makes a trip to inspect the real estate and on his way runs over Samuel. Samuel sues Lynn and Jack for his personal injuries, joining Lynn as defendant on the theory that Lynn was Jack’s partner. Is Lynn liable as a partner of Jack?

 

 

 

 

 

 

 

 

 

2.                   

 

 

 

Merlin Winters had three sons.  Merlin and his youngest son, Abraham, had a falling out in 1998 and never spoke to each other again.  Merlin made a formal will in 2000, leaving all of his property to his two older sons and deliberately excluding Abraham.  Merlin’s health began to deteriorate, and by 2001 he was under the full-time care of a nurse, Julia.  In 2002 he made a new will expressly revoking the 2000 will and leaving all his property to Julia.  On Merlin’s death, the two older sons contested the 2002 will, claiming that Julia had exercised undue influence over their father.  Abraham claimed that both wills were invalid.  He contended that the first will had been revoked by the second will and that the second will was invalid on the ground of undue influence.  Is Abraham’s contention correct?  Explain.

 

 

 

 

 

 

 

 

 

3.

 

James A. Arnold and Marvin D. Smith signed two promissory notes for a total of $25,000 payable to the Bostwick Banking Co.  The defendants argued that they were not liable on the notes because they had signed as agents for Sunshine Sales Corp.  The notes made

no reference to Sunshine, but the defendants alleged that an officer at Bostwick had promised to type “Sunshine Sales Corporation” above their signatures on the notes.  Are the defendants liable on the notes?

 

 

 

4.

 

Note:  This problem gives you possible arguments for each side.

 

 

 

AAS and B-C both sold educational supplies to schools.  B-C’s sales began to plummet, and it was rapidly losing market share.  The company responded by reducing its catalogue prices 5 to 12 percent.  It also offered a discount of 25 to 40 percent in states in which AAS was making substantial gains.  What claim might AAS make against B-C?  Is it likely to prevail in court?

 

 

 

Argument for AAS: B-C has committed predatory pricing.  The company is selling below cost for the purpose of driving us out of business.

 

 

 

Argument for B-C: Even if we were to drive AAS out of business, we do not have enough market power to recoup ourlosses.

 

 

 

 

 

 

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