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Jess claims that she hired Eric in May to paint her house by the end of July. Is this contract goverened by the Statute of Frauds?
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- Joanna takes a security interest in the equipment in Jason Store and files a financing statement claiming “equipment and all after acquired equipment.” Berkeley later sells Jason Store a cash register, taking a security interest in the register, and (a) files nine days after Jason receives the register or (b) files twenty-five days after Jason receives the register. If Jason fails to pay both Joanna and Berkeley and they foreclose their security interests, who has priority on the cash register? Explain.In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your answers in light of the principles learned on breach of contract. (maximum 500 words)Due to his debt to Chur, Schwyz wrote a promissory note which is payable to the order of Chur. Chur's sister, Sion, misrepresenting herself as agent of Chur, obtained the note from Schwyz. Sion then negotiated the note to Lausanne after forging the signature of Chur. May Lausanne enforce the note against Schwyz? a. Yes, since Schwyz is the principal debtor. b. No, since it is Chur who can enforce it, the note being payable to the order of Chur. c. No, since the signature of Chur was forged. d. Yes, since Schwyz, as maker, is primarily liable on the note.
- Alice owns a contracting company that receives most of its business through government contracts. A new procurement officer with a government agency implies to Alice that if she does not send him a bribe for her latest awarded contract, she will not get any further contracts. If Alice loses future contracts, her business will fail. She reluctantly gives the officer a bribe. Has Alice committed a violation? A. Yes, because Alice was not under economic duress. B. Yes, because being extorted is not a defense to giving a bribe. C. No, because Alice was under economic duress. D. No, because Alice was not the one who proposed the bribe.Phyllis maintained an IRA account at the brokerage firm ABC. On February 11 of the current year, she requested a check for the balance of her account. She received the check made out in her name and deposited it the same day in a new IRA account at the brokerage firm XYZ. Phyllis then requested a check on May 8 from XYZ, which was deposited in another new IRA account 35 days later. Is the May 8 distribution taxable to Phyllis?Joe is a return preparer who completes Paul's return on March 1. Joe presents it to Paul for his signature on April 1. The return is due on April 15, but Pau does not pay Joe until June 1. Joe must furnish a copy of the return to Paul no later than?
- Adrian is a salesperson who represents several wholesale companies. On January 2, 2019, she receives by mail a commission check from Ace Distributors in the amount of $10,000 and dated December 30, 2018. Adrian is concerned about the year in which the $10,000 is taxable. Although the check is dated 2018, she contends that it would have been unreasonable for her to drive the 50 miles to the Ace offices on a holiday to collect the check. Further, Adrian maintains that even if she had made the trip on a holiday to collect the check, by the time she returned home, her bank would have closed and she could not have received credit for the check until after the first of the year. Adrian would like you to determine whether she should include the $10,000 on her 2018 or 2019 tax return.James Cooper sells memberships to the Atlanta Symphony Association. TheAssociation’s procedure requires that Cooper prepare and give each customer a receipt for eachmembership sold. The receipt forms are prenumbered. Cooper is having personal financialproblems, and he kept the $500 cash received from a customer for a new membership. To hidehis theft, Cooper destroyed the Association’s copy of the receipt that he gave to the customer.What will alert manager Terry Reynolds that something is wrong?Amy is a salesperson for ABC Company. Although ABC never expressly authorized her to collect payments (cash and checks) from the customers, she routinely does so for some of her long standing customers and submits them to ABC, who accepted payment without issue. One day, Amy collects cash from one of her customers and runs off. The customer sues ABC Company. If ABC is liable, it is because Amy has a. apparent authority b. implied authority c. no authority d. express authority
- Jake is an IRS tax law - certified volunteer preparer at a VITA/TCE site. When preparing a return for Jill, Jake learns that Jill does not have a bank account to receive a direct deposit of her refund. Jill is distraught when Jake tells her the paper refund check will take three to four weeks longer than the refund being direct deposited. Jill asks Jake if he can deposit her refund in his bank account and then turn the money over to her when he gets it. What should Jake do?Rochelle fraudulently induces Sybil to sign a note. Rochelle sells the note to Terry, who does not know of the fraud and takes the note for value and in good faith, and thus becomes an HDC. Terry sells the note to Ulrich, who sells the note back to Rochelle. Does Rochelle acquire Terry’s HDC rights in the note?Lucas writes a check to Paige for $250. The face of the check says, "pay to the order of Paige." Paige signs the check on the back and heads to the bank. Before Paige gets to the bank, however, Paige loses the check. Paige is not really worried, though, because the check is made out to her. If Carla finds the check and tries to cash it, Carla will: be able to cash the check because it is bearer paper. X be able to cash the check because it is order paper. be unable to cash the check because it is bearer paper. be unable to cash the check because it is order paper.