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Business law questions - Assignment Example

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With regards to Young bringing suit against Pileggi for nonpayment, it is not a valid defense for Pileggi due to the fact that the promissory note that discussed the amount given is not sufficient to distance Young from the wrong doing that he may have committed in the first…
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Download file to see previous pages he employee would still be ultimately responsible for the theft that they committed regardless of the extenuating circumstances of the case and the fact that they paid back the amount at a later time.
In short, the defendants were ultimately protected by the release that they had been able to obtain due to the fact that the employee had willingly accepted it at the time it was offered; in full knowledge of whatever economic distress may or may not have existed at that time. Furthermore, the only way in which the plaintiff could have a legitimate case is if they were able to prove that they had been forced to sign the agreement under another type of distress or duress. Ultimately, due to the fact that the employee signed the agreement with a sound mind and under the understanding that they would be experiencing monetary benefit from the arrangement and would hold harmless the defendant for any further threat of legal action against them with regards to this incident. This particular situation has a level of tie in with regards to the way in which many agreements are completed. Whether or not duress is implied within a given situation, consent to abide by the terms of a legally binding contract necessarily precludes almost any further actions that can be made by such an individual with regards to such a situation. Although this is not necessarily ethical or fair, it does help to underscore the importance of reading and understanding the ramifications of what paperwork is signed and/or agreed to in any given situation.
With regards to the binding nature of Corning Glass Works to Hanan Consultants, the oral contract is of course non-binding. However, it should be noted that it is highly unethical to make an oral contract with a vendor and then fail to uphold it based upon the fact that it is no longer convenient for either party involved. Such actions have made it necessary for participants in any contract to obtain written and legal promissory notes to ensure ...Download file to see next pagesRead More
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