Mueller gets fired from his brokerage under unfavorable circumstances. He debates taking some of his old broker's records with him when he leaves to help him with listings at his new job. What should you tell Mueller? "Don't take the original records, but take as many duplicates of the records as you like." "Take the records, it is your right to do so." "Don't take the records. That would be considered theft!" "Only take records of listings you personally worked with. That's illegal +

Mueller gets fired from his brokerage under unfavorable circumstances. He debates taking some of his old broker's records with him when he leaves to help him with listings at his new job. What should you tell Mueller? "Don't take the original records, but take as many duplicates of the records as you like." "Take the records, it is your right to do so." "Don't take the records. That would be considered theft!" "Only take records of listings you personally worked with. That's illegal +

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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1.A borrowed P30,000.00 from B to be paid on September 10, 2016, in exchange for the loan, A surrendered his Iphone7 to B as security. On September 11, 2016, B demanded that A pay the P30,000.00 loan. Since A do not have enough money, he just told B that B can just have his Iphone/ as payment for his loan to which B agreed. Is the contract extinguished? Explain . 2. A, B, C and D are the solidary debtors of X for 240,000. X released D from the payment of his share of P10,000. When the obligation became due and demandable, C turned out to be insolvent. Considering the said incidents, what are the liabilitites of A, B, C, and D? 3. Aida, Lorna and Fe borrowed money from Juan, Pedro and Mario P3,000.00. Aida's obligation is due today, September 5, 2019, Lorna is a minor and Fe's obligation is due on September 10, 2019. Can Pedro alone proceed against Lorna alone for the payment of the entire P3,000.00? Explain . 4.Explain and Give an example of the following modes of extinguishing an…
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John Brown Ales Pty Ltd sells bottled beer to select licensed premises. Mary is out with friends and consumes a bottle of John Brown’s Old-Fashioned Ale. When she gets to the bottom of the bottle, she realises that there are the remains of an insect in the bottle. Mary suffered shock and became very ill with gastroenteritis. Mary missed two days of work and needed medical attention. Can John Brown be brought to account for Mary’s costs and suffering?
Joe took out a loan to purchase a new house. In return, Joe's lender placed a lien on the property. Is this legal? O No. Only Joe can place a lien his property. O No. A lender is never allowed to place a lien on a property as long as the borrower is up-to-date ontheir payments. О Yes. This is a voluntary mortgage lien that allows the lender to foreclose on the property if Joe defaults on the loan. O Yes. However, the lien is only valid for 12 months.
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Betty went to the cinema to watch the premiere of Hulk Mister. She bought the ticket and went into the cinema. As she sat down on the chair, the legs of the chair broke and she fell onto the ground injuring her lower back. It turned out that the chair was previously broken and has not been properly repaired by the staff of the cinema. She was hospitalised for a month and could not work during the time she was in the hospital. Required: Betty wants to start legal proceedings to claim damages from the cinema for the injury. Advise her of the legal grounds on which she can claim compensation from the cinema and discuss, with reference to relevant legal principles and cases, the necessary steps that Betty needs to go through in order to prove her case.
On March 3rd 2009, the Fraud Examination Team, a department of the Bureau of Fraud Examination, received a call from Anton Valukas, chairman of the Chicago law firm Jenner & Block LLP. In early 2009, a bankruptcy court in New York assigned Valukas to investigate and report on the causes of Lehman Brothers Holdings Inc (LBHI)[1]’s 2008 bankruptcy. During this investigation, Valukas came across “Repo 105” and “Repo 108” transactions that Lehman used from 2001 to 2008. A “repo” or repurchase agreement is a form of short-term borrowing, whereby one party agrees to temporarily “sell” securities to another party at a specified price, while also committing to repurchase them at a future date, and at a usually higher preset price by the same buyer. While “repo” transactions are legal and are frequently used by investment banks as a means of obtaining short-term financing, Valukas stated that given the period of the fiscal year when these transactions were mostly conducted, as well as how…
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