Business Law: Exam
BUSINESS LAW
FINAL EXAM
This is a take-home exam. The exam is to be handed out on July 26, 2012 and returned on July 31, 2012 on the final exam time. The group leader will assign each group member a question and each group member will answer the question and return the answer to the group leader. The group leader will grade each member in terms of cooperation and totality of the answer. The group leader will submit a final draft on exam date (July 31, 2012). The final draft must be done in a professional manner. Please underline or bold-type important terms, laws and phrases. Note, there is no correct answer. The purpose of this exam is for the student to understand the elements of each subject area of the law. When answering the question, discuss the elements of each law. Be sure to underline or bold type the elements of each law. All of the questions must be answered and each question is worth 10 points. 100 points.
A. Contracts
John, age 16, goes to the internet to purchase some computer software. John locates Ace Inc. Computer Software web site. Ace has the software John wants and John places the order by identifying himself and orders two types of software and agrees to pay the price listed on the website. Ace then sends John a letter accepting the offer. When the software arrives at John’s place, John refuses to accept and refuses delivery. After placing the order, John found the same software at a cheaper price. Applying “common law contract principles” was there proper formation of the contract? Was there proper proof of the contract? Are there problems with conditions and performance? Is there a breach? What are the available remedies?
B. Contracts
Erma, a merchant, receives a brochure from Ammco regarding some merchandise that is sold in Erma’s business. Erma then sends in a purchase order ordering 25 units of merchandise (which exceeds $500.00 in value). Ammco upon receipt of the order, sends a letter of confirmation
FINAL EXAM
This is a take-home exam. The exam is to be handed out on July 26, 2012 and returned on July 31, 2012 on the final exam time. The group leader will assign each group member a question and each group member will answer the question and return the answer to the group leader. The group leader will grade each member in terms of cooperation and totality of the answer. The group leader will submit a final draft on exam date (July 31, 2012). The final draft must be done in a professional manner. Please underline or bold-type important terms, laws and phrases. Note, there is no correct answer. The purpose of this exam is for the student to understand the elements of each subject area of the law. When answering the question, discuss the elements of each law. Be sure to underline or bold type the elements of each law. All of the questions must be answered and each question is worth 10 points. 100 points.
A. Contracts
John, age 16, goes to the internet to purchase some computer software. John locates Ace Inc. Computer Software web site. Ace has the software John wants and John places the order by identifying himself and orders two types of software and agrees to pay the price listed on the website. Ace then sends John a letter accepting the offer. When the software arrives at John’s place, John refuses to accept and refuses delivery. After placing the order, John found the same software at a cheaper price. Applying “common law contract principles” was there proper formation of the contract? Was there proper proof of the contract? Are there problems with conditions and performance? Is there a breach? What are the available remedies?
B. Contracts
Erma, a merchant, receives a brochure from Ammco regarding some merchandise that is sold in Erma’s business. Erma then sends in a purchase order ordering 25 units of merchandise (which exceeds $500.00 in value). Ammco upon receipt of the order, sends a letter of confirmation