assignment 2

Topics: Contract, Swimming pool, Breach of contract Pages: 3 (1012 words) Published: April 21, 2015
 14.2 Critical legal thinking what is a guaranty contract? Explain. Business Ethics Did Glenn act ethically in this case? Would Mary have acted unethically if she had actually orally guaranteed to repay her husband’s debts and then raised the Statute of Frauds to prevent enforcement of the oral promises? Contemporary Business Are guaranty contracts often used in business? Can you think of a situation in which a guaranty contract would be required? Answer:

Guaranty contract:
A Guaranty Agreement is a contract that outlines your role in the process. It supports the obligation of a borrower to a lender; in the primary contract the borrower agrees to provide the lender with something of value -- ie. money, or goods and services.

Did Glenn act ethically in this case: If the situation was true and Glen had took the loan and Mary agreed up on her husband’s guaranty, then it is absolutely unethical for his friendship however If the things are not recorded in the document, any 3rd person apart from this case will go with Mary’s favor Bcoz it was written anywhere! No, Contemporary Business Are not guaranty contracts often used in business. in any kind business if you want to consider technically in the Law you have to have in the primary contract the borrower agrees to provide the lender with something of value.

16.8 Specific Performance Liz Claiborne, Inc. (Claiborne), is a large maker of sportswear in the United States and a wellknown name in fashion, with sales of over $1 billion per year. Claiborne distributes its products through 9,000 retail outlets in the United States. Avon Products, Inc. (Avon), is a major producer of fragrances, toiletries, and cosmetics, with annual sales of more than $3 billion per year. Claiborne, which desired to promote its well-known name on perfumes and cosmetics, entered into a joint venture with Avon whereby Claiborne would make available its names, trademarks, and marketing experience and Avon would...
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