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Problems: Chapter 15, 16, 17, and 18

Yasmi M. Pacheco Ethical and Legal Issues in Business BUS-340 December 2, 2012 Professor Gerry Adams

Problems: Chapter 15, 16, 17, and 18

Chapter 15 Problem 10

The cancellation of the contract is unconscionable. This can be determining because it seems that both parties did not have the same bargain power. This order would comprise Giannis business by 20 to 22 percent. Gantoss had 20 percent higher profit then Giannis concluding that both parties did not have the same bargain power. Gianni made the goods especially for Gantos. In this case Gianni Sport would be losing money.

The contract was dishonest. The doctrine of unconscionably should apply to this case. The courts can refuse to grant the equitable remedy of specific performance for breach of a contract if they found the contract to be oppressively unfair. (Barnes, Bowers, Langvardt, & Mallor, 2013, p. 425)

Chapter 16 Problem 7

Dyer clearly signed the contract that displays the following.

The above comprises the entire agreement pertaining to this purchase and no other agreement of any kind, verbal understanding, representation, or promise whatsoever will be recognized.

It also stated:

Problems: Chapter 15, 16, 17, and 18 This contract constitutes the entire agreement between the parties and no modification hereof shall be valid in any event and Buyer expressly waives the right to rely thereon, unless made in writing, signed by Seller. (Barnes, Bowers, Langvardt, & Mallor, 2013, p. 425)

The Parol Evidence Rule would not apply to this case because the agreement had to be in writing. It does not apply in an oral contract. Dyer lack of carefully reviewing the contract she was signing cause the loss of the sales tax owed on the vehicle.

Chapter 16 problem 10

The writing contract is not sufficient to satisfy the statute of frauds. Basquiat made a contract with Rosenfield for the amount of $12000. This would include three paintings from Basquiat. Basquiat requested a 10% deposit of the total amount. Rosefeld gave the artist $1000 instead of $1,200.

The contract is not valid because it does not provide names of the parties involved and expected delivery time. Such contract does not fall in the Statute of Frauds, because Basquiat did not set a delivery time.

Chapter 17 Problem 4

Problems: Chapter 15, 16, 17, and 18

Perry argument of the sale of the Auto Works Division to Auto Works, Inc., did not release Northern Retail from its obligation was not a novation is a good argument. By Perry transferring Auto Works Division to Auto Works, Inc instead of Northern Retail it changes the contract conditions. The contract was made for Auto Work Division to Northern Retail changing the terms and conditions in the contract.

Chapter 18 Problem 9

In this case Ross cannot with the suit. Ross was advice to improve his grades and was given plenty of tutoring and help to improve his grades. Ross was in the University for four years. Even though Ross had a disadvantage background and was unable to improve his grades.

A breach of contract is not provided by Creighton University. For this reason Ross cannot win the suit.

Problems: Chapter 15, 16, 17, and 18 References Mallor, J. P., Barnes, A. J., Bowers, T., & Langvardt, A. W. (2007). Business law: The ethical, global, and e-commerce environment (14th ed.). New York: McGraw-Hill.

parol evidence rule. (1996). In Merriam-Webster's Dictionary of Law. Retrieved from http://library.gcu.edu:2048/login?qurl=http%3A%2F %2Fwww.credoreference.com/entry/mwdlaw/parol_evidence_rule