Nobody downloaded yet

Foundations of Business Law - Essay Example

Comments (0) Cite this document
FOUNDATIONS OF BUSINESS LAW QUESTION 1 To effectively ascertain whether or not Lumieres Sound and Lighting System has a valid claim and cause of action against Roxanne, in lieu of Sting, under the law, an analysis of the facts and circumstances surrounding the case is proper…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92% of users find it useful
Foundations of Business Law
Read TextPreview

Extract of sample "Foundations of Business Law"

Download file to see previous pages By virtue of a valid sale and waiver of all her rights to the enterprise, Roxanne has transferred all said rights and interests to the property, which also includes liabilities and future litigation, such as the present case against her former business enterprise and its new owner, Sting. If Sting, also signified that it was Roxanne who owned the business through his conduct, Roxanne cannot be still held liable as there was fraud and misrepresentation employed by the former. Conversely, if there was indeed a valid, legal transfer of the rights to the business to Sting, he shall be the one solely liable to pay the obligation of $40,000 to Lumieres Sound and Lighting System. If Lumieres Sound and Lighting System cannot recover from Sting by virtue of his disappearance, the former cannot recover from Roxanne, as she has no knowledge whatsoever of the obligation and therefore, no obligation to pay the debt created by the new owner Sting. Moreover, since the parties were entering a contract which amounted to a significant amount of money, namely: $40,000.00, it was incumbent upon Lumieres Sound and Lighting System to verify the identity of the business proprietor they were contracting with, and look into all the considerations such as the financial capability of the other party to pay, among several other factors. It cannot take refuge in the fact that they had been “a regular supplier to Mogadon in the past, and was not aware of the change of ownership.” In all their financial dealings, a supplier must always exercise diligence and due care by assessing their client’s profile and identity. If there was only an actual transfer of the rights to the property, where legally, Roxanne was still the owner of the business enterprise, she is still liable for all the acts and obligations despite the actual ownership of Sting. Under the law, she still has rights and interests to the business enterprise, and would ultimately be liable for litigation and breach of contract, as Sting can only be considered as an agent acting in her behalf. Hence, in the absence of Sting, Roxanne can be held liable. Lastly, although there was an actual transfer of rights and ownership of the business by virtue of the sale between Roxanne and Sting, it was incumbent upon Roxanne to have advised Sting to stop the use of the old business signs, advertising, materials and stationary, and letterhead of Mogadon Music, and informed her former contacts and suppliers of the change of ownership of her former business enterprise. Question 2 To effectively ascertain whether or not Sally has a valid claim and cause of action under the law against Great Eastern Railway, an analysis of the facts and circumstances surrounding the case is proper. The facts of the case are clear and undisputed. There was a valid freight contact entered into by the parties. The issue and question in this case is whether or not Great Eastern Railway, under the stipulations of the contract entered into by the parties, and through the acts or omissions of its employees, is liable for damages under the provisions and instances set forth by law and jurisprudence. The case at bar merits a situation of breach of contract. Defined in general terms, a breach of contract of a contractual obligation is any failure or departure from the agreed terms and conditions of a contract, Accordingly, where a breach has been caused where one of the parties to the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Foundations of Business Law Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from
(Foundations of Business Law Essay Example | Topics and Well Written Essays - 1250 Words)
“Foundations of Business Law Essay Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Foundations of Business Law

Foundations of Business

...?Foundations of Business Table of Contents Introduction 3 Question One: Types of Transactions Considered As Insider Trading 3 Question Two: Specific Conditions Under Which Insider Trading Is Considered Illegal Under United States’ Federal Securities Laws. 4 Question Three: Widespread Investigation into Insider Trading 6 Conclusion 7 References 8 Introduction The infringement of the company’s policies and the federal laws for the employees to trade in the securities of the company while the employees are aware of the material and the private information about the company can be referred as insider trading. It is illegal to provide the material or the non-public information...
4 Pages(1000 words)Research Paper

Foundations of Business

...? Foundations of Business Table of Contents Table of Contents 2 0 Insider Trading 3 2.0 Types of Transactions Considered Insider Trading Regardlessof Their Legality 4 3.0 Specific Conditions under Which Insider Trading Is Considered Illegal under United States’ Federal Securities Laws 5 4.0 Widespread Investigation into Insider Trading 6 6 References 8 1.0 Insider Trading Insider trading is generally related with illegal conduct but the term includes both legal as well as illegal conduct of the people. When the corporate insiders such as employees, officers and directors purchase or sell securities or stock in their own companies, it is considered as legal conduct. It becomes illegal when...
4 Pages(1000 words)Research Paper

Foundations of Criminal Law

...?Foundations of Criminal Law Insert Foundations of Criminal Law Set A: Related Articles Fraud refers to the deceitful conduct modeled to manipulate another individual to issue something of value through telling lies, repeating something that is recognized or should be identified as false or suspected by the fraudulent party. It may also involve concealing a fact from the other party, which could have saved that party from being deceived. The following are examples of articles with fraud related cases. Therefore, this context examines whether the law was rightly implied and justice done or not. Jail for Sainsbury's IT boss who stole 17 million Nectar...
8 Pages(2000 words)Assignment

Foundations of Criminal Law

.... References 1. G. Brazier, Insider Dealing: Law and Regulation, (London: Cavendish, 1996) 2. K. Heller, & M. Dubber, The Handbook of Comparative Criminal Law. (Stanford: Stanford University Press, 2010) 3. M. Joshi, Occupational Frauds and Money Laundering. (Mumbai: Snow White Publications, 2005) 4. K. B. Kwok, Accounting Irregularities in Financial Statements, (London: Gower Publishing, Ltd. 2005) 5. C. Montaldo, The Insanity Defense Standard for Legal Insanity Has Shifted, 2012, (accessed July 15, 2012) 6. R. Miller, Le., R. & G. A. Jentz, Business Law Today: The Essentials. (Ohio: South Western Educational Publishing,...
7 Pages(1750 words)Assignment

Foundations of Business Law take such precautions in case of unforeseeable acts. In this case, Kosmo could not have been aware of the competition in which Newman intended to participate. It must therefore be seen if such loss of chance to Newman was foreseeable or was it too remote for Kosmo to be held liable for it. Applying this test, it can be safely said that the loss of chance to participate in the competition was so remote that Kosmo could not reasonably have foreseen it. Kosmo is therefore not liable for such loss. Works Cited Adams, A., 1996. Law for Business Students. 4th ed. Essex: Pearson Educatiopn Limited. C.J., S. C. F. & Davies, 1917. Columbia Bithulic Co. v. British Columbia Electric Railway Co. [Online]...
5 Pages(1250 words)Assignment

Criminal Law Foundations

...?Introduction In the 4th Amendments to the United s Constitution, citizens have given the constitutional safeguards in order to stand against unreasonable search and seizure of persons or property without a warrant (Family Rights, 2013). This substantially includes children or minor individuals who are covered by the existing juvenile law under the juvenile court. The 5th Amendments to the United States Constitution provides a sense of constitutional safeguard by ensuring that citizens are not to be compelled to be a witness against themselves or be deprived of liberty or property obtained for public use (Family Rights, 2013). Finally, the 6th Amendments to the United States Constitution provides a constitutional...
5 Pages(1250 words)Research Paper

Criminal Law Foundations Evaluation

...? Criminal Law Foundations Number Assessing the impact of globalisation on the U.S. criminal justice system Globalisation has largely burdened the US criminal justice system, by introducing newer challenges such as terrorism, cross-border smuggling of drugs and illegal immigration. The introduction of these new challenges is aided by the fact that with globalisation, there is little emphasis placed on the importance of geopolitical borders. The relative disregard of geopolitical borders is underpinned by: the fact that globalisation aims at encouraging international trade and the free market [and hence the removal of tariffs at the borders]; and the technological development which has led to the...
4 Pages(1000 words)Essay

Foundations of European Law

...Foundation of European Union Law The European Union had transformed into a supranational entity from an intergovernmental body, in less than fifty years. The institutions of the EU such as the European Court of Justice, the European Commission and the European Central Bank had proven their supremacy over national legislation and national courts. The EU determines the way in which people in Europe have to live, work and spend money. It possesses widespread powers over the Member States. This never before encountered delegation of powers, attracted the attention of the world; and there is a large body of literature that states that the EU is democratically deficit. The EU’s powers of decision making and the...
14 Pages(3500 words)Essay

The Foundations of Business

... Teacher Why Is Apple Successful? Apple became successful because of its radical and revolutionary innovation among its products thatdisrupted several industries that include telecommunication, entertainment and computing industry. It changed how products are created and even created new industry to make its product a pioneer that made Apple a very successful company. Apple did not just make things better in its products. It changed how the products are made and even created an industry that made other products obsolete. Its iPod rendered the bulky Walkman obsolete because it can store thousands of music and play them better at the same time. When it launched the iPhone, the smartphone industry was revolutionized and debunked... Teacher...
1 Pages(250 words)Essay


...Foundations of Business Law By + Question Are you and your sister in a contract? Issue- is thereany legal binding agreement. Law; for a valid contract there must be an intention or willingness to be bound, a firm promise; and communication of the offer. Being the owner of Cozinha Do Pilao, a restaurant in Adelaide, my sisters Bethany and Princesa had just opened a fishmonger next to my business. To boost their initiative, out of brotherhood, l ordered some of their fish. Although, after delivery, the fish did not meet my quality standards that led to me questioning the edibility of the fish. A contract is an agreement between two or more individuals...
6 Pages(1500 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Foundations of Business Law for FREE!

Contact Us