Ordinary knowledge would have been sufficient for the contractor to know that his delay would also delay the opening of the cafe. The lawyer advised Jose that Jose was liable to the contractor for the rest of the contracted price of the work the contractor performed minus the lost profits and other direct damages Jose could establish. Jose had no other damages, but his business records did show lost profits of $7,500. Jose agreed to let the lawyer contact the contractor and offer to settle the outstanding claim against Jose through a payment of 2,500 to the contractor, representing the balance of the contracting work minus Jose's lost profits. Jose mentioned that business was so good that he was hoping to break out a rear wall and open an outdoor sun deck for the following summer, but he was hesitant to trust any contractor since there seemed to be no way to guarantee a completion date. The lawyer explained that Jose could...
According to the lawyer, Jose could then hold the contractor to those terms, such as $1,000 per day between the original completion date and the date of actual completion and that most courts would enforce any such liquidated damage clause, if the amount was reasonable and not merely punitive in nature. In a case like Jose's where damages were documented, such a clause would likely be enforced (Dawson, 630).
Business Law Ethics Special Directions for Cases 1 -- 5: The following cases have been carefully chosen to represent several of the most pressing ethical dilemmas facing American business today. When answering the questions at the end of each case, consider the ethical character trait or traits that would guide your decision-making. Avoid the theory of subjective ethics. Be less concerned with the "right" answer and more concerned with applying the
The most significant purposes comprise: persuading actions of the members of a culture, resolving disagreements inside the culture, upholding significant social values, and providing a way for social change (Meiners, Ringleb and Edwards, 2009). Canadians are recognized for their logic of fair play, their admiration for working people, and for their devotion to the rule of law. These principles are reflected in the legal system governing Canada's businesses (Phillips,
Justice Keen's Reasoning Seemingly going against the rulings of both Foster and Tatting, Justice Keen gave a resounding guilty verdict for a very simple reason- the law of the land is the law of the land, murder is murder, and no grey areas in regard to this should be allowed to exist. Either the defendants are guilty or not guilty, and in the viewpoint of Keen, the defendants are guilty without
Business Law Dimitri vs. Bib Bob's Having given an offer to the public of a price tagged at $5,000 upon completion of a given task, the Bib Bob's had made a valid offer which was accepted by one individual Dimitri. In this case there was already an offer in writing trough the advertisement flown on the place and an acceptance was made to take up the contract and the terms by Dimitri.
O'Hagan, the SEC could successfully bring a lawsuit against Leo for damages in connection with his purchase of the shares. Larry was not bound by fiduciary duty to Hawke. As such, the higher standard of Chiarella v. United States applies. While this 10b-5 rule applies to deliberate omission, Larry may or may not have known specifically about Leo's relationship with Hawke. Legally, however, the SEC still has recourse. The broker
intended his agreement to purchase constituted assent to a contract. In this situation, the contract would be implied by conduct. B may have the opportunity to argue that if he does not accept the goods, then his conduct does not imply a contract. In prior situations, his acceptance of the goods implied the contract by conduct but this situation differed in that he did not accept the goods. Ultimately, this
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