...Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI). Judge Herbert F. Goodrich was the Chairman of the Editorial Board of the original 1952 edition [1], and the Code itself was drafted by some of the top legal scholars in the United States. The Code, as the product of private organizations, is not itself the law, but only recommendation of the laws that should be adopted in the states. Once enacted in a state by the state's legislature, it becomes true law and is codified into the state’s code of statutes. When the Code is adopted by a state, it may be adopted verbatim as written by ALI/NCCUSL, or may be adopted with specific changes deemed necessary by the state legislature. Unless such changes are minor, they can affect the purpose of the Code in promoting uniformity of law among the various states. The ALI/NCCUSL have also established a permanent editorial board for the Code. This board has issued a number of official comments and other published papers concerning the Code. Although these commentaries do not have the force of law, courts interpreting the Code often cite them as persuasive authority in determining the effect of one or more provisions. Courts interpreting the Code generally seek to harmonize their interpretations with those of other states that have adopted the same or a similar provision, except where specific aspects of the Code were changed by that state when adopting it, or where other aspects of state law require a different decision...
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...Compare and contrast UCC contracts and common law contracts. UCC contracts and common law contracts are both governed by contract law. In other words, any contract that is written up has to follow the rules and regulations of contract law in all fifty States of America. Common law contracts are dictated by any changes in the contract. For instance, a change in a common law contract is seen as a rejection or a counter offer. When this happens it causes the offeree to change to the offeror and vice versa. Most importantly in order for a common law contract to be valid it has to have description, quantity, time, nature of the work or service, and an offer. UCC the Unified commercial code contract are still bonded if any change occurs. A binding contract will depend on the circumstances to the person that accepts the contract and to the person who drew up and wrote the contract and how much deviation to the contract. Also, a common law contract requires a consideration to keep a contract open but a UCC contract do not have too. Greg’s Part There are a few distinct differences between common law and UCC contracts. Common law contracts relate to transactions with real estate, services, intangible assets, and employment. UCC covers transactions with goods and tangible objects. Under common law, when the contract is has a change, it is a rejection and becomes a counter offer. With the UCC, even if there has been a change, it still may be a binding contract. There...
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...COMPLAINT I. INTRODUCTION 1. This is an action arising under Pennsylvania’s Uniform Commercial Code, 13 Pa. C.S. §9601, et seq. (“UCC”) and Unfair Trade Practices and Consumer Protection Law, 73 P.S. 201-1, et seq. (“UTPCPL”). 2. The statutorily required Notice of Repossession sent by Defendant failed to provide key information and as such, violates Pennsylvania’s Uniform Commercial Code. 3. Defendant’s deceptions, omissions and misrepresentations in this predatory transaction also violate Pennsylvania’s state anti-deception law, the UTPCPL. II. PARTIES 4. Plaintiff Leandra Peterson (“Peterson”) is an adult individual residing in Philadelphia, Pennsylvania at the address captioned. 5. Defendant GFC Lending, LLC (“Defendant” or “GFC”)...
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...against Dr. Cook is correct or vice- versa. The reasons being is one the transaction of a patient being fitted for and purchasing dentures from a dentist does not fall under the sale of goods by any merchant , nor does it fall under providing a service from any healthcare professional. Another reason is whether the various implied warranties that fall under Article 2 of the UCC will apply to such a transaction or not will mainly depend on if the predominant element of the transaction is rendering a service or the sale of a good or product. If the sale of goods predominates, it will be in the scope of Article 2 and the implied warranties contained will be imposable on the defendant. Last if the service aspect predominates there will not be such implied warranties according to Article 2 of the UCC. Of the sequences in this case, would the answers be different under the UCC from those under common law? In the results from case a, b, and c no all the answers would not be different under the UCC and the common law. According to the results, all three of the contracts would be cancelled under both laws. ...
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...Part 1 – Fact Situation: Identification of Issues 1. a. Did QPI violate Section 10(b) of the Securities Exchange Act of 1934 by engaging in transactions with DOA to boost their financial reports? Was Nouv’s behavior unethical when he tried to bribe Betty into completing the draft and deal in a way that made the transactions look legitimate? b. Is the cooperation between QPI and DOA on pricing (price fixing) and segmenting product sales to customers (market division/Refusal to deal) a horizontal agreement in violation of Antitrust laws? If so, were their actions a per se violation of Section 1 of the Sherman Act? c. Did Nouv’s behavior lack integrity? If so, was his veiled threat and coercion of Betty to remain silent unethical? d. --- Individuals listed below: i. Would the firing of Billy Aged based on his age be disparate treatment and illegal discrimination in violation of the Age Discrimination in Employment Act of 1967? ii. Is firing Cindy Octane due to her future change in marital status be a disparate treatment violation of Title VII of the Civil Rights Act of 1964? iii. Is Tommy Grey 40 years of age or older, and if so, would his firing due to seniority be in violation of the Age Discrimination in Employment Act of 1967? iv. Would firing Belinda Black be an act of disparate treatment and discrimination based on her color in violation of Title VII of the Civil Rights Act of 1964? e. Was Nouv’s unwelcomed sexual advance, innuendo and quid pro quo offer...
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...My interpretation of law is that these are legally-backed rules of action and conduct that have been created to promote and protect the moral and ethical expectations of society. The primary sources of law are constitutional, statutory, administrative, and common---are found at federal, state, and local levels. Constitutional law is the foundation for all other law in the United States and is the supreme law of the land. Statutory law is created by a legislative body and approved or disapproved by the executive branch of government. Administrative law is the source of law that authorizes the exercise of authority by executive branch agencies and independent government agencies. Common law is essentially law made by the courts and that has not been specifically passed by legislature, and is based on the fundamentals of previous cases that had similar facts. There are also secondary sources of law which are intended to increase the level of uniformity and fairness across courts in all 50 states. Secondary sources of law have no independent authority of legally binding effect. The categories of law are as follows: Civil laws are designed to compensate parties for losses as a result of another's conduct. Criminal laws are a protection of society, and the violation of criminal laws results in penalties to the violator such as fines and imprisonment. Substantive laws provide individuals with the rights to create certain duties. s Public laws are those derived by...
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...Final Exam Study Guide BUSN 420 “Business Law” The BUSN 420 final exam is worth 300 points. You will have three and one half hours total time to access and take the exam. The exam is open book, open notes. You will be able to access your electronic textbook during the exam. The particular exam that you will receive is assembled from an exam question pool, so that no two students in the course will take exactly the same exam. There are separate question pools for the 30 objective questions (multiple choice, multiple answer, and matching—worth 5 points each and broken down by TCO), and the 7 essay questions (worth 20 points each and broken down by topic). The essay questions are all located at the end of the exam, so be sure to allow approximately one-half of your time for the essay questions. The essay questions can each be answered in 1-2 paragraphs. To prepare for the exam, review the following materials from each week’s material 1. Re-read the “Lecture” page, including the examples. 2. Read the instructor’s “wrap-up” to the two threaded discussion questions. 3. Review your graded answers to the weekly chapter-end homework problems. 4. Review your graded quizzes (Weeks 1-7). The objective questions are drawn largely from weekly quiz questions and chapter-end homework questions. In reviewing weekly quiz and homework answers, make sure you understand why the correct answers are correct. Re-read the relevant page(s) in the text, if necessary. The essay...
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...1. Discuss the basic principles of contract law. What are the characteristics of a valid contract? How are contracts terminated? What are the legal consequences of terminating a contract? How is contract law, as an example of “private law regulation of business,” different in its operation from the public law regulation of business which we discussed for most of the semester? The law presiding over contracts is state law which is comprised of common law and judge-made rules. All the states except Louisiana have passed the Uniform Commercial Code’s (UCC) Article 2 which sets the rules and guidelines for contracts dealing with goods. Essentially, in order for a contract to be valid, there must be an offer and acceptance of the offer, all parties must be legally capable of entering into a contract, there must be evident consideration, and most states have a Statue of Frauds. To expand on offer and acceptance: A proposed contract must be offered by one party, known as the “offeror,” and accepted by the other party, known as the “offeree.” Offers must be certain and even if an offer has been made, the contract has not been formed until the offeree accepts the offer. Terms of acceptance and rejection are different for every contract. In certain cases, as stipulated by the idea of common law exactness, such as in realty, services, or insurance, the acceptance must be the mirror image of the offer and if not, the offer is considered to be rejected and a counteroffer occurs. However...
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...any defenses between the immediate parties, real defense run counter to the considerations of the holder in due course and pressures the negotiable principle to yield. Real defenses include infancy and mental incompetence, illegality, duress, fraud as to the essential nature of the transaction, bankruptcy, unauthorized signature, and alteration (Brown & Sukys, 2013). These are the most common Real Defenses. The requirement to pay an instrument does not exist if there is a real defense. Infancy and mental incompetence also known as Incapacity is built around the fact that a given individual may not have the authority to negotiate an instrument, even if they believe that they know what they are doing. That person may be a minor who by law can’t enter into contract and be held responsible or someone that is mentally incompetent and legally not able to enter into enforceable contracts. Illegality, means that an instrument can’t be executed if it is connected with any illegal activities. Ignorance to the fact that an illegal act is attached to the instrument in question is not excuse for the holder in due course. Duress is another real defense. Having an instrument drawn up against the will of the maker or drawer because of threats of force or bodily harm (Brown & Sukys, 2013). For...
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...Chapter 18: Agency Law Agency law is a large body of common law that governs agency; it is a mixture of contract and tort law. An agency is a principal-agent relationship in which a principal hires an agent to act on the principal’s behalf. There are four ways to form an agency, they include; express agency (the most common), implied agency, agency by ratification, and apparent agency. The only one not bound by contract is agency by ratification; the principle must ratify the contract. Both the principle and the agent have duties they must perform, both accountable for their own conduct. Chapter 19: Equal Opportunity in Employment Equal Opportunity in Employment requires treatment without discrimination for employees or job applicants and allows the ability to sue employers if not. The Civil Rights Act of 1964 outlawed discrimination in education, housing, transportation, and work. Title VII of the Civil Rights Act, fair Employment Practices Act, applies to all employers with 15 or more employees, works to eliminate job discrimination based on race, color, national origin, sex, and religion. Title VII applies to disparate-treatment discrimination, which is against an individual and disparate-impact discrimination, which is against an entire class. The Equal Employment Opportunity Commission is responsible for enforcing most federal antidiscrimination laws. The three defenses to Title VII action include: merit, seniority, and bona fide occupational qualification. Chapter...
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...interstate commerce regulated by the UCC and is unconstitutional because it breaks Federal Antitrust Laws permiting and promoting one company to manufacture the hitch and this way creating a monopoly, act that can be sanctioned by The Federal Trade Commission. Going back to the case of the Maine Law, it was one of the cases that federal law has been prohibiting, converting their governmental authority into competitive market forces, as implemented on the services from the motor carriers. In the same way, the State of Confusion’s mandate of a B-type hitch for any vehicle that passes through the state also limits their competitive market, knowing that it is the only state that produces and sells the B-type hitch. However, there was no step made by the government to control the production of B-type hitch in the state, and those being used in the state’s roads. According to the case, if Maine were allowed to let the carriers provide a special checking system, would permit other states to do the same thing. For the federal law to approve this proposal, it is still necessary for the state requirements to go through a complicated series of service-determining laws, rules, and regulations. This is not a very easy thing to comply since the mix of laws and regulations is usually changeable with the congress’ own governmental acts to leave certain federally uncontrolled decisions to the competitive market. However, the case encourages the federal law to prevent such efforts of Maine, simply...
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...Introduction to Business Law, Beatty and Samuelson explain that a contract must benefit both parties, either by promise made to give something of value or by a bargain to both parties being made. This specific case, based on the rules of consideration, does reflect an adequate contract made by both Kim and Son. Between both Kim and Son, there was an agreement made on sides that are beneficial to all parties, a statement (no promise said), and the terms of each side of the deal and there are benefits/bargains to both parties a result of the lawsuit. Both Kim and Son have agreed to a part of the contract. Son offered to pay back what was lost to the best of his ability and Kim in return, said he would not sue. In this particular case though, it has been concluded that neither Kim nor Son fulfilled their end of the contract. Because of this it would mean that the contract was non-existent. Kim promised not to sue and he has, just as Son stated he would repay to the best of his ability, and he ended up not paying anything. One thing to consider is maybe it wasn’t Son’s ability to pay, resulting in why he couldn’t fulfill his end of the contract. Does this mean he broke the contract, if he did state the repayment would be based off his ability? To determine where this case would go to court, it is best to understand what each source of law there is. Common Law and Uniform Commercial Code are two sources of contract law available to Kim and Son. Uniform Commercial Code or UCC is set in place...
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...Responsibility - Lecture | | Print This Page | Introduction to Ethics and International Law Introduction | Business Ethics | Social Responsibility | Ethical Dilemma Resolution Models | Video – Business Ethics: An Oxymoron? | Practice Quiz | | Introduction | | The E in Enron definitely did not stand for ethics, but Enron and its contemporaries like Arthur Andersen, Tyco, and WorldCom altered the lives of thousands of people and shaped new laws regulating business. All topics covered in this course, from product liability to civil rights, from intellectual property rights to antitrust and consumer protection, will all make the same point. My goal is not to instruct a basic business law course but rather to create a dialogue involving questions and issues that each of our respective businesses must navigate successfully if they are ultimately to maximize stakeholder value. We will do this during Week 1 by covering our two most important TCOs: A and I. These will be foundational for the term. As TCO A is our ethics TCO and TCO I is our international TCO, note that both of these TCOs will be important under and inside each of our topical TCOs (e.g., contracts, environmental law, employment law, etc.) | | Business Ethics | | As we move through the course, each learned TCO should remain in the back of your mind. We will build on them while learning the law. As you will find, most of the TCO A ethical strategies include as a first question the following:...
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...of intentional conflict of law that may affect potential civil liability of Steve and WIRETAP will be discussed along with additional legal issues that may also affect BUG. The six different issues will reveal several torts violated and damages that may be awarded from BUG. Introduction The purpose of this paper is to explain specific, hypothetical scenarios dealing with several legal issues. Bug Inc. electronic products are assembled in foreign countries, currently the products are only distributed in U.S. mainly for the use in surveillance. BUG Inc. is planning to expand the electronic device distribution to international markets. Team C has provided detailed answers and feedback to the six scenarios and different types of legal protections BUG must have for its intellectual property, employment laws, international laws, imprisonment rights, internet law, responsibilities, and manufacturing problems associated with the company’s business dealing in domestic and international courts. These protections are elemental strategic plans allowing the organization to minimize any risks in the international distribution. The Trade Secrets Act has been adopted by many states to protect company’s trade secrets or intellectual property. BUG’s company as designer and manufacturer of electronic devices and own software is protected under the law. However, “severe precautions are necessary to avoid misuse of a trade secret crime. In addition to state law, the Economic Espionage was...
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...Legal recovery Name Institutional Affiliation Question 1 Joanna is likely to recover from the contract. This is because there existed a contract between them. Jimmy offer job to Joanna. The contract was made the moment Joanna accepted the work. Even if the agreement was made verbally, the contract exist since terms were set. Therefore, the act of jimmy to withdraw the job is a breach of contract hence Joanna is likely to have his work back or compensated for wastage of time and other provable expenses. Other theories in support of legal recovery are the negligence and defamation theories (Miller, & Hollowell, 2014). Question 2 Mandy signs a contract to repair Steven’s car for $600. As long as Mandy has accepted the offer, he has rights over the car as it is in his premises. In addition, Steven did not give the time span for the repair and therefore Mandy has the right to stay with the car as he likes and still no breach of contract. However this should be limited to some reasonable time. On the other hand, Mandy cannot charge any other amount even if he finds a lot of issues to repair than expected. Even if Mandy is unable to troubleshoot the repair, he is limited to that and hence has the mandate to repair the car. Nevertheless, Steven has the rights to demand for repair of his car provided he has paid the $600. Steven is supposed to wait for a reasonable time in order for Mandy to do the repair. His ownership of the car is partially his until the full payment...
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