Questions from Business Law

Q: 1. The Massachusetts Bay Transit Authority (MBTA) awarded the

1. The Massachusetts Bay Transit Authority (MBTA) awarded the Perini Corp. a large contract to rehabilitate a section of railroad tracks. The work involved undercutting the existing track, removing th...

Q: 1. After reviewing Color-Dyne’s audited financial statements, the

1. After reviewing Color-Dyne’s audited financial statements, the plaintiffs provided materials to the company on credit. These financial statements showed that Color-Dyne owned $2 million in inventor...

Q: 1. Michael incorporated Erin Homes, Inc., to manufacture mobile

1. Michael incorporated Erin Homes, Inc., to manufacture mobile homes. He issued himself a stock certificate for 100 shares for which he made no payment. He and his wife served as officers and directo...

Q: 1. Asher and Stephen formed a corporation named “Ampersand”

1. Asher and Stephen formed a corporation named “Ampersand” to produce plays. Both men were employed by the corporation. Stephen decided to write Philly’s Beat, focusing on the history of rock and rol...

Q: 1. To finance her education at DeVry Institute of Technology,

1. To finance her education at DeVry Institute of Technology, Lydia borrowed $20,000 from a private lender. After graduation, she could not find a job in her field, so she went to work as a clerk at a...

Q: 1. Fluor, an engineering and construction company, was awarded

1. Fluor, an engineering and construction company, was awarded a $1 billion project to build a coal gasification plant in South Africa. Fluor signed an agreement with a South African client that prohi...

Q: 1. After acquiring the Schick brand name and electric shaver assets

1. After acquiring the Schick brand name and electric shaver assets, North American Phillips controlled 55 percent of the electric shaver industry in the United States. Remington, a competitor, claime...

Q: ETHICS Wayne and Arlene Selden invested in Competition Aircraft, a fraudulent

ETHICS Wayne and Arlene Selden invested in Competition Aircraft, a fraudulent company that pretended to sell airplanes. After the company went bankrupt, the Seldens sought to recover from accountant W...

Q: Laura and Bruce Trethewey hired Basement Waterproofing Nationwide, Inc., to

Laura and Bruce Trethewey hired Basement Waterproofing Nationwide, Inc., to waterproof the walls in their basement for a fee of $2,500. BWNI’s contract stated: “BWNI will service any seepage in the ar...

Q: 1. A company offered credit cards to consumers with low credit

1. A company offered credit cards to consumers with low credit scores. These cards had a $300 limit, a $75 sign-up fee, a $6 per month participation fee, and a $5 monthly fee for paper billing. Despit...