Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Law & Ethics Expert

Assignment 1: In this assignment, you will research and apply legal requirements associated to sales contracts, warranties and remedies.

Part 1: Choose one of the scenarios below and describe the best solution. Comprise comments associated to any ethical issues that occur.

Scenario 1:

Andy signed a negotiable note to Scott’s Appliance Store to purchase a refrigerator for his home. The note contained all of the notices needed by the Federal Trade Commission. The refrigerator didn’t perform as promised, often spewing water all over the floor. Andy planned to contact the appliance store the next day. Scott’s Appliance Store negotiated Andy’s note to Alliance Appliances, who took the note in good faith and with no notice of the breach of warranty.

A) Use the Internet to locate the FTC provision which regulates consumer credit transactions.

B) Does the FTC regulation apply to this case? Will Andy be needed to pay the amount owed on the refrigerator to Alliance Appliances?

C) Would the FTC regulation you found apply if Andy paid for the refrigerator with a personal check? If Andy paid with a personal check would he be needed to pay Alliance Appliance?

Scenario 2:

Brittney borrowed $1000 from Jason on September 1, 2012 and agreed to pay him back $100 each month starting in October. Brittney missed her October payment, however wrote Jason a check for $100 in November. Jason added a zero to the end and presented the check to First Bank, the drawee. First Bank paid Jason $1,000 out of Brittney’s account. First Bank exercised reasonable care at all times. One week after receiving her bank statement, Brittney observed the inappropriate payment and informed First Bank of the alteration.

A) describe Brittney’s duty to observe her bank statement and report alterations to First Bank.
B) How much, if any, can First Bank charge Brittney’s account?
C) If Brittney files a lawsuit; will the debt she owes Jason be relevant?

Assignment 2: Choose four of the six topics from the list. In two to three paragraphs, give information regarding how your new business will handle issues associated to the topics. Justify your selection with relevant laws, cases or illustrations.

• Acceptance of checks.
• Post dated checks.
• Prevention of forgery (internal employees).
• Dishonored (returned checks).
• Acceptance of payment by electronic means, such as Internet sales.
• Gift cards.
• Issuing credit to customers.

(Reference for Assignment 2)

Business created in week 1:

If I were top choose one of the three principle forms of business organizations and make a business which sells at least one tangible product or provides a service I would select an individual proprietorship. A sole or individual proprietorship is a form of business ownership in which one individual owns the business, and I like the idea of being the boss. As the owner I would be the sole worker of the business in the beginning, starting out small and then employ as many others as required.

My business would sell homemade and man-made personal items like candles and woodwork, I am sure I would also resale items I could find at wholesale prices also, even if just to keep my shelves stocked. My business would go by the name Angel’s Inspirations. The principal office, for my convenience, would be situated somewhere close to my home on the gulf coast of Mississippi. I would be proud to be the sole proprietor of a business in which I could make a living out of crafting and resale.

Benefits of this form of organization comprise no organizational fees, full control over all decisions and less taxes. The demerits comprise unlimited personal liability and possible resource limitations. The other advantage can be found with the lack of legal needs for the formation of a sole proprietorship in the state of Mississippi. First a name is needed and then licenses, permits and essential zoning clearance and then an employer identification number is needed.

Works Cited:

Smith, S. (2013). How to Establish a Sole Proprietorship in Mississippi.In Nolo. Retrieved May 19, 2013, from:

http://www.nolo.com/legal-encyclopedia/how-establish-sole-proprietorship-mississippi.html

Twomey, D. (2013). Anderson's Business Law and the Legal Environment, Comprehensive Volume (22nd ed). Cengage Learning. Retrieved from:

http://digitalbookshelf.southuniversity.edu/books/9781285696683/id/L41-2-2

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M9851

Have any Question? 


Related Questions in Business Law & Ethics

Question 1 an example of an ethical structure is a a

Question 1: An example of an ethical structure is __________ . A. a whistleblower policy B. an ethics officer C. a corporate credo D. a values statement Question 2: When you ask yourself whether you would be willing to b ...

Healthcare policy and law class - must be 250 words must

Healthcare Policy and Law class - Must be 250 words must cite work. "The Future" Please responds to the following: Interpreting the topics discussed in this course, examine at least two (2) concepts related to health ref ...

Assignment law and the judicial system1an advantage of adr

Assignment: Law and the Judicial System 1. An advantage of ADR is that it A. effectively handles constitutional law. B. saves time and money. C. promotes the development of the law. D. improves the discovery process. 2. ...

When sentencing an offender a judge must evaluate a number

When sentencing an offender, a judge must evaluate a number of different variables to impose an appropriate course of punishment or treatment. Using the textbook, library, Internet, or Web resources, research the variabl ...

Assignment the importance of probation and parole in the us

Assignment: The Importance of Probation and Parole in the US Criminal Justice System This module discusses the historical origins of probation and parole and how societal values have influenced and continue to influence ...

Assignment the future of digital crimes and digital

Assignment: The Future of Digital Crimes and Digital Terrorism In the United States, a number of law enforcement agencies, including the Secret Service, the Federal Bureau of Investigation (FBI), and the Department of Ho ...

Read the hartzell v justus co inc case on page 472 of the

Read the Hartzell v. Justus Co., Inc., case on page 472 of the Advanced Business Law and the Legal Environment text.  Then answer questions 1-4 on page 475.   Also, provide your overall impression of the case.  Was the c ...

Prepare a three- to five-page paper not including title and

Prepare a three- to five-page paper (not including title and reference pages), formatted according to APA style as outlined in the Ashford Writing Center, that details the importance of ethical behavior and its significa ...

Address the following in 2-3 pagesdefine and outline

Address the following in 2-3 pages: Define and outline strategies for conducting a terroristic act or campaign. Generally speaking, what is the planning process for executing a terrorist attack? Explain and provide examp ...

Balancing goal attainment and ethicstoday probably more

Balancing Goal Attainment and Ethics Today probably more than ever before, all departments of an organization, as well as any associated internal processes, are required to contribute to organizational goals designed to ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen