You are an employee at a nice paper mill and want to impress the boss by burning the
midnight oil (but not too close to the wood pulp). For four consecutive weeks, you work fortyfive, forty-two, thirty-nine, and thirty-one hours.
If you are a nonexempt em
Now suppose that you go to your bank and write a check on your account payable to cash
for $500. The teller gives you the cash without asking you to indorse the check. After you leave,
the teller slips the check into his pocket. Later, the teller delivers
Agile Corporation borrows $1 million from Hi Finance Company (HFC). Agile signs a
financing statement that describes the collateral, its inventory and proceeds, and HFC files the
statement in the appropriate state office. Using the same collateral, Agile
Jud Wheeler signed a contract to purchase 10 acres of land in Idaho from the Krauses.
If Jud offered the Krauses considerably less for their property than its possible market value and
the Krauses accepted the offer, could they avoid the contract on later
Consider this week's learning activities on negotiable instruments and read the following
scenario. Then, complete Individual Works #1 and #2 as directed below.
You are interested in buying a new car and Bob lets you borrow one of the new cars on his lot
Gerard, an events promoter and coordinator, promises to stage a concert for the benefit of Kids
Care, a charitable organization dedicated to helping disadvantaged youth. In reliance on the
anticipated receipts, Kids Care contracts for the construction of
To develop what you believe is a terrific idea for a video game, you lease 50,000 square
feet in an office building from Commercial Property, LLC, under a written five-year lease. Your
goal is to put the game on the market within two years. Several months
Ann leases an office in Ted's building for a one-year term. At the end of the period
specified in the lease, the lease ends without notice, and possession of the office returns to Ted.
If Ann dies during the period of the lease, what happens to the leased
Sam owns an acre of land on Red River. The government dams the river. A lake forms
behind the dam, covering Sam's land. Does the government owe Sam anything?
If so, what? If not, why?
Land includes the soil on the surface of the earth and the natural or a
Eve and Frank own twenty acres of land on which there is a warehouse surrounded by a
fence. What is the most important factor in determining whether the fence is a fixture?
Certain personal property can become so closely associated to the real property to
Eagle Sales Company owns a warehouse, subject to a mortgage obtained from First
National Bank. Separately, Eagle and First National obtain insurance policies from Good Hands
Insurance, Inc., to cover the warehouse. Later, Eagle sells the property to Inter
You are the chief executive officer of Money Games Inc.(MGI), which has begun to
market Borrow & Spend, a video game set in the world of finance. To buy ads, MGI borrows
$50,000 from First Savings Bank. On MGI's behalf, you sign a note for the loan and of
Yes, the directors are liable for the resulting drop in its stock price. Directors and
officers are deemed fiduciaries of the corporation. A fiduciary is a person with a duty to act
primarily for anothers benefit. A fiduciary relationship involves trust a
Northwest Brands, Inc., is a small business incorporated in Minnesota. It's one class of
stock is owned by twelve members of a single family. Ordinarily, corporate income is taxed at
the corporate and shareholder levels. Is there a way for Northwest Brand
Is it easier to start a business in virtual space than in real space? Is it less (or more)
expensive? What are the applicable laws? Perhaps most important from a business person's
perspective, is it possible to turn a profit? How? Are there different cons
Sam works as a driver for Toxic Games Warehouse, a wholesale distributor and online
retailer of video games and accessories. Over a ten-year period, Sam repeatedly applies for and is
denied a promotion to the position of dispatcher. Sam meets the requirem
Another employee of your paper mill, Hotspur, steals a shipment of wood pulp for your
company to impress you with initiative to secure new resources for free. Unfortunately, he runs
down a pedestrian crossing properly in the crosswalk on his way back to y
You run a successful paper mill and send out your three best personnel to secure new
wood pulp sources using due diligence and skill. Applying the agency principles outlined in this
chapter, answer the following questions.
Delilah, does not return with wo