BUSI561 03 PetersenCaseStudy
The Petersen Case Study David A. Gatti Liberty University
Author Note David A. Gatti, SU 15, BUSI 561-Legal Issues in Business (B16), Liberty University. This paper was conducted as a Discussion Board Post assigned by Professor J. Reinke of: Liberty University, Graduate School of Business, Lynchburg, Virginia 24515. Correspondence concerning this project should be addressed to: David A. Gatti, Liberty University, Graduate School of Business, Lynchburg, Virginia 24515.
Contact: dgatti@liberty.edu The Petersen Case Study
This discussion board post will respond to various questions regarding the Contracts Analysis Case Study involving Marshall Petersen and his local health food business from a legal and spiritual perspective. Legal Perspective
From a legal analysis, I believe that, as a party in an implied contract, “A contract established by the conduct of the parties” (Kubasek, Brennan, & Browne, 2015, p.241), I should continue to do business with Mr. Petersen as regular since doing otherwise would be grounds for breach of covenant, which is, “Violation of an express, or implied, condition of a contact to do or not do something” (BusinessDictionary.com, 2010). “In every contract there is an implied covenant that neither party shall do anything, which will have the effect of destroying or injuring the right of the other party, to receive the fruits of the contract, which means that in every conflict there exists an implied covenant of good faith and fair dealing” (Kirke La Shelle Company v. The Paul Armstrong Company et al., 1933). This same legal principle was confirmed in the legal case, Sons of Thunder, Inc., v. Borden, Inc. (1997).
If I was to cease doing business with Petersen, he would likely pursue legal recourse on the premise that my company violated the terms of an express contract, which is, “An exchange between two parties of oral or written promises that are enforceable” (Kubasek, Brennan, & Browne,
Author Note David A. Gatti, SU 15, BUSI 561-Legal Issues in Business (B16), Liberty University. This paper was conducted as a Discussion Board Post assigned by Professor J. Reinke of: Liberty University, Graduate School of Business, Lynchburg, Virginia 24515. Correspondence concerning this project should be addressed to: David A. Gatti, Liberty University, Graduate School of Business, Lynchburg, Virginia 24515.
Contact: dgatti@liberty.edu The Petersen Case Study
This discussion board post will respond to various questions regarding the Contracts Analysis Case Study involving Marshall Petersen and his local health food business from a legal and spiritual perspective. Legal Perspective
From a legal analysis, I believe that, as a party in an implied contract, “A contract established by the conduct of the parties” (Kubasek, Brennan, & Browne, 2015, p.241), I should continue to do business with Mr. Petersen as regular since doing otherwise would be grounds for breach of covenant, which is, “Violation of an express, or implied, condition of a contact to do or not do something” (BusinessDictionary.com, 2010). “In every contract there is an implied covenant that neither party shall do anything, which will have the effect of destroying or injuring the right of the other party, to receive the fruits of the contract, which means that in every conflict there exists an implied covenant of good faith and fair dealing” (Kirke La Shelle Company v. The Paul Armstrong Company et al., 1933). This same legal principle was confirmed in the legal case, Sons of Thunder, Inc., v. Borden, Inc. (1997).
If I was to cease doing business with Petersen, he would likely pursue legal recourse on the premise that my company violated the terms of an express contract, which is, “An exchange between two parties of oral or written promises that are enforceable” (Kubasek, Brennan, & Browne,
References: BusinessDictionary.com (2010). What is breach of covenant? definition and meaning. Retrieved from http://www.businessdictionary.com/definition/breach-of-covenant.html BusinessDictionary.com (2010) Kubasek, N.K., Brennan, B.A. & Browne, M.N. (2015). The Legal Environment of Business: A Critical Thinking Approach (7th ed.). Upper Saddle River, NJ: Pearson Education, Inc. Law.Cornell.edu (n.d.). 2-306. Output, Requirements and Exclusive Dealings. UCC-Uniform Commercial Code. Retrieved from http://www.law.cornell.edu/uss/2/2-306 SWLearning.com (1997-2000) Kirke La Shelle Company v. The Paul Armstrong et al. 188 N.E. 163 (263 N.Y. 79, 1933). Sons of Thunder, Inc. v. Borden, Inc., 690 A.2d 575 (148 N.J. 396, 1997).