Law in Business Issues - Essay Example

Taylor is not liable to the student loan because it is still part of the debts he has and when he is declared bankrupt, it means that even the student loan he has cannot be paid, hence he cannot be held liable.Chapter 39 Question 7 The trustee cannot enforce the lease as written because the initial lease when it was being signed indicated that the lease cannot be assignable, so despite the present circumstance the company is in, the lease statement still holds (Morgan et al 832).Chapter 39 Question 10The government can claim from the first filing before the bankruptcy court appointed a trustee.

This will, therefore, entitle the government to acquire and get its due before everything is fully under the trustee to supervise liquidation.Chapter 41 Question 3 Below cost pricing is where the price for a product or service is below the initial amount paid by the seller to acquire it. It can be shown when the profitability of a company reduces but it is market share is going up and it attracts more customers. Competition pricing laws apply in such a case and the company can even be closed (Morgan et al 880).

Chapter 41 Question 9 Yes, it is legal to merge the two companies as they will be merged under the combination merger and the shareholders of each company will be the ones to decide if they want to have their shares back or they can get new shares from the newly merged company. Chapter 41 Question 10 Yes, the laws would apply since they are meant to protect the citizens from fraud. Since the products will be sold even in the United States, the laws would be enforced under the private suits section of the anti-trust laws (Morgan et al 881).