UPPER BA302 Business Law and Ethics Week 4,5,6,7 and 8 Discussion

BA302 Business Law and Ethics

Week 4 Discussion

DQ1 I am a corn broker. I contract with Farmer I.T. Dell to purchase 1200 bushels of Dell Computer Corn #1. That brand of corn is the best on the market, one level of quality better than Old McDonald’s Quack and Oink and two levels of quality better than Farmer Jack’s Canned Maize brands. I tell Farmer Dell that I have purchasers for the 1200 bushels of corn because I can deliver Dell Computer Corn #1.

Farmer Dell ships me 400 bushels. He explains the shortfall as the result of a drought. I am not pleased. Who bears the loss of the 800 bushels that was not delivered, Farmer Dell or me? If there is information not contained in my hypothetical that would assist you in answering it, please identify the missing information. Then make an assumption about the missing information and respond, including your assumption[s]. Do not concern yourself with any questions regarding title to the corn.

DQ2 (Taken from Chapter Question 15-2 on page 372) How much disruption is in a person’s life must that person endure in order to avoid application of the doctrine of mitigation of damages by failing to mitigate damages)? For example, would a person be required to move across the country if a similar job opening occurred there? In the example in the chapter question, would it make a difference if the highest salary was $15,000?

DQ3 In a breach of contract action, how far removed from a breach of contract can consequential damages be recovered by the non-breaching party? Colloquially, how many “degrees of separation” from the original breach of contract are we talking about?

BA302 Business Law and Ethics

Week 5 Discussion

DQ1 How does the “buyer in the ordinary course” designation and its application affect national commerce? Is the influence positive or negative? Why?

DQ2 Does your state have a “lemon law”? If so, what are the requirements to trigger its application? Do you think that those requirements are too lenient or too strict from the perspective of a potential claimant? If not, what provisions would you place in a “lemon law” for your state?

DQ3 What pro-active steps should be taken by a business to minimize the risk of a forged indorsement or a forged signature? How cautious should financial institutions be required to be without unduly impeding the global flow of money and, potentially, triggering economic collapse?

BA302 Business Law and Ethics

Week 6 Discussion

DQ1 What protection, if any, can a co-signer insist upon in a loan document to protect his or her stake in the repayment process? Are there other protections available to the co-signer that are not contained in the loan document?

DQ2 What parameters would you place on the use of the automatic stay provision of the Bankruptcy Code, 11 USC 362, to make it fair to both debtors and creditors?

DQ3 If you could redraft the federal exemptions in the Bankruptcy Code, what exemptions for real and personal property would you include on a nationwide basis, taking into account the principles behind the 2005 amendments to the present Bankruptcy Code? What monetary limits would you use?

BA302 Business Law and Ethics

Week 7 Discussion

DQ1 Which entity form discussed in the readings this week attracts you the most and why?

DQ2 Should LLCs have a legal maximum number of Members? If so, how many and why? If not, why should LLCs be permitted to have an unlimited numbers of Members when S Corporations cannot?

DQ3 Which aspects of a proposed franchise agreement should a prospective franchisee be most concerned about? What types of provisions would be so onerous that you would advise the prospective franchisee to walk away from the deal?

BA302 Business Law and Ethics

Week 8 Discussion

DQ1 Is there really such a thing as international “law”? Should we care?

DQ2 What was the most important conclusion you drew in your Individual Research Paper? Why did you think it was most important?.

DQ3 Out of all the areas of Business Law that we reviewed in this term, which area needs the most work by policymakers and opinion-shapers and which area makes the most sense?