BUSS213 ? Midterm Exam Directions and Rubric 2
b) Refer to the Bryant & Stratton College APA Style Guide located in the FAQ tab.
Choose one of the cases from the following and draft a memo based on your research. Deliverable Descriptions Case 1 George Gett is a well-known, wealthy financial expert living in the city of Spin.? Nick Wade, Gett?s friend, tells Estelle Brown that he is Gett?s agent for the purchase of rare coins. Wade even shows Brown a local newspaper clipping mentioning Gett?s interest in coin collection. Brown, who knows of Wade?s friendship with Gett, contracts with Wade to sell a rare coin valued at $25,000 to Gett. Wade takes the coin and disappears with it. On the payment due date, Brown seeks to collect from Gett, claiming that Wade?s agency made Gett liable. Gett does not deny that Wade was a friend, but he claims that Wade was never his agent. Gett, a long-time client has come to the firm for legal advice.? Mr. Tate has asked that you conduct research and:
1. Explain fully whether an agency was in existence at the time the contract for the rare coin was made. 2. Discuss whether the principle of agency by estoppel was created, and explain why or why not based on the law. 3. Consider the concept of ratification and analyze whether Gett ratified the contract.???
Case 2 Jolson is the chair of the board of directors of Fin, Inc., and Douglas is the chair of the board of directors for Real Express, Inc. Fin is a manufacturing corporation, and Real Express is a transportation corporation. Jolson and Douglas meet to consider the possibility of combining their corporations and activities into a single corporate entity.? They consider two alternative courses of action: Fin could acquire all the stock and assets of Real Express, or the corporations could combine to form a new corporation, called F&R Enterprises, Inc.? Both Jolson and Douglas are concerned about the necessity of a formal transfer of property, liability for existing debts, and the need to amend the articles of incorporation.? Jolson has been a long time client of the firm, and discussed with Douglas seeking the firm?s advice.?
1. Discuss what the two proposed combinations and the legal effect each has on the transfer of property, the liabilities of the combined corporations, and the need to amend the articles of incorporation. 2. Analyze and explain the articles of consolidation versus the articles of incorporation as something to consider in the decision making process. Case 3 King and Prince are neighbors. King?s lot is extremely large, and his present and future use of it will not involve the entire area.? Prince wants to build a single-car garage and driveway along the present lot boundary. Because the placement of his existing structures makes it impossible for him to comply with an ordinance requiring buildings to be set back fifteen feet from an adjoining property line, Prince cannot build the garage. Prince contracts to purchase ten feet from King?s property along their boundary line for $3,000. King is willing to sell but will give Prince only a quitclaim deed, whereas Prince wants a warranty deed.? Prince has been a client with the firm for years and is concerned with King?s offer of a quitclaim deed.
1. Discuss the differences between these deeds as they would affect the rights of Prince if the title to the ten feet of land later proves to be defective. 2. Outline at least three choices Prince may have in order to satisfy both parties. Explain and discuss the idea of a title search when identifying those choices. 3. Make a recommendation to Prince based on your analysis of the covenant to convey, the covenant against adverse claims of third parties, and the covenant of quiet enjoyment.
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