The partners of DDS sued Goodman to hold him liable for the renovation contracts. Goodman denied personal liability. In this case, there is an issue that involves a promoter (Goodman), which is a person who organizes and starts a corporation, finds the initial investors to finance the corporation and so on. Promoters often enter into contracts on behalf of a corporation prior to its actual incorporation. As occurred in this case by the fact that the incorporation would be filed until November 1.
2D 706 (1984); Turner v. Unification Church, 602 F.2d 458 (1979); Lewis v. Holy Spirit Assn., 589 f. Supp. 10 (1983). As stated in Molko v. Holy Spirit Assn., undue influence is that kind of influence or supremacy of one mind over another by which that other is prevented from acting according to his own wish or judgment, and occurs when one party uses its dominant psychological position in an unfair manner to induce the subservient party to consent to an agreement to which he would not otherwise have consented. In our case, Tom Marsden used this type of influence over Rob Jr. when he informed him “if you leave, you will be thrown into the eternal fires of hell and you will not be allowed
If a company that produces military equipment merges with a company that manages a chain of motels, this is an example of a horizontal merger. b. A defensive merger is one where the firm's managers decide to merge with another firm to avoid or lessen the possibility of being acquired through a hostile takeover. c. Acquiring firms send a signal that their stock is undervalued if they choose to use stock to pay for the acquisition. d. Cash payments are used in takeovers but never in mergers.
DQ1: Explain the concept of utility under the utilitarianism theory. How can a business achieve a level of utility? DQ2: What is the connection between justice and utility under utilitarianism theory? What are a few assumptions and problems with utilitarianism theory? DQ3: What are the similarities and differences between the concepts of justice under the utilitarianism theory and distributive justice theory?
Applied Business Law Individual Work Week 10 Linda Baker Everest University Online June 22, 2012 Instructor Antonia Asterino Insurable Interest The insurable interest must exist when the policy was purchased and at the time of the loss. (1) If you would sustain a loss financially from the property’s destruction, then you have insurable interest. (2) Interstate Distribution Corporation bought Eagle Sales Company and put insurance on the property. Interstate had possession of the property when the policy was taken out. Eagle Sales Company did not have any insurable interest in the property.
During deliberations to determine if there was enough evidence to continue with the trial, Schlichtmann had a second opportunity to accept a $20 million offer from Beatrice Foods, again non market forces (his emotions) influenced his decision to decline the offer. In the end Schlichtmann settles for $8 million after much debate with his partners, who had competing interests. Schlichtmann’s partners wanted to make sure they could settle for enough to cover their expenses, otherwise they would lose all of their assets. Schlichtmann want more than the $8 million but ultimately accepted it because of the pressures he faced from his partners. The stakeholder model of the BGS relationship, in my opinion, is not depicted in this film.
Noah Wind 10/07/2010 MGM's Creditors Voting on Debt Plan The movie studio MGM has been around for a long time so to hear that they are declaring bankruptcy was a shocker to me. This move will allow them to clear all their debt, but it is going to be taken over by a rival movie studio. Step number one is going to be presenting its restructuring plan to debt holders. This will let people know where they stand with the company and let them know that they are going out of business and will be bought out by Spy Glass Entertainment. Creditors for MGM have to approve the deal by October 22nd, and they hope to gather enough voters so that when they do go bankrupt the other company can start it right back up.
When Waksal found out that the FDA was going to reject ImClone’s application for approval of its cancer drug. It is believed that he told Martha about the rejection which they knew would eventually result in the company’s significant stock price drop. Martha sold about 4000 shares that she had and avoided loosing approximately $45,000. Martha and Waksal had a mutual broker, Peter Bacanovic from Merrill Lynch .Waksal tried to call Bacanovic but he did not reach him. He then called Bacanovic’s assistant Doug Faneuil and told him to sell the stock.
* What is an order issued by the Supreme Court to a lower court requiring a case for review? A writ of certiorari. Exercises: 1. Explain constitutional law and states powers using Chapter 1, Section 3 as a basis for your answer. Constitutional law is a group of laws made to keep a good foundation and it gives an idea of the outcome of business.
Business Ethics Bernas Case - 1. If you were Mr. Bernas, what would you do? Would this be the right thing to do? If I were Romulo Bernas, I would not accept the advise of Mr. Narciso and not quit my job as staff assistant of Prime Shipping, Inc. I would thank him for his concern but politely decline the Php 50,000 offer, sharing to him my thoughts.