The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 1IS
Summary Introduction
Case summary: The Ecuadoran firm C contracted to sell the coffee beans to a US firm D. Upon receiving the shipment, the firm D defaulted on making the payment. The firm C sued the firm D for the breach of the contract. The Ecuadoran court awarded the firm C to collect for damages but the firm D’s assets were in United States.
To find : Condition under which the U.S. court can enforce judgment of the Ecuadoran court.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Advances in biological technology have enabled two research companies, Bio Labs, Inc. and Scientific Associates, to develop an insect-resistant corn seed. Neither company is financially strong enough to develop the distribution channels necessary to bring the product to world markets. World Agra Distributors, Inc. has negotiated contracts with both companies for the exclusive right to market their seed. Bio Labs signed an agreement to receive an annual royalty of $1,000,000. In contrast, Scientific Associates chose an agreement that provides for a royalty of $0.50 per pound of seed sold. Both agreements have a 10-year term. During Year 1, World Agra sold approximately 1,600,000 pounds of the Bio Labs, Inc. seed and 2,400,000 pounds of the Scientific Associates seed. Both types of seed were sold for $1.25 per pound. By the end of Year 1, it was apparent that the seed developed by Scientific Associates was superior. Although insect infestation was virtually nonexistent for both types of…
Consider Directors
Jack is one of 4 directors of Electric Cars Ltd; the company imports green, environmentally friendly vehicles from a sole supplier Acheron Ltd in the UK. Every year the contract between Electric Cars Ltd and Acheron is renegotiated however this year, Acheron indicate to Jack they want to expand their business in New Zealand and include electric bikes. Jack tells the other directors that Electric Cars is reducing their business in New Zealand but secretly incorporates another company. Jack and his wife are the directors of the new company and it takes 50% of Electric cars business and takes up the opportunity to sell electric bikes as well. Jack resigns from Electric cars.
The other directors realise that business is suddenly declining and discover that Jack’s new company is taking their business.
With reference to directors
1. Explain to Jack – who is eligible to be a director of a company in New Zealand?
a. Would your answer be different…
The Concentrated Phosphate Export Association consists of the five largest phosphate producers.
The Agency for International Development (AID) undertook to sell fertilizer to Korea and solicited
bids. The association set prices and submitted a single bid on 300,000 tons. A paid the contract
price, determined the amounts to be purchased, coordinated the procedure for buying, and
undertook to resell to Korea. The Justice Department sued the association and its members,
claiming that their actions violated Section 1 of the Sherman Act. What defense might the
defendants have? What is the result?
Chapter 11 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
Knowledge Booster
Similar questions
- Malaysian Business law: Company secretary and auditors Tangen Sdn Bhd is a company which manufactures mugs and cups. The company's issued share capital is 50,000 ordinary shares with a par value of RM1 per share. Alfred is one of the shareholders in the company. He is unhappy with the fact that Tangen Sdn Bhd engages the services of the auditor for management and advisory services. He thinks it is necessary for the company to engage some other person. Based on the above facts, answer the following questions: a. Tangen Sdn Bhd wishes to remove its auditor by way of written resolution. b. The auditor did not detect the fraud committed by the management of the company for the year 2019. c. Do you agree with Alfred?arrow_forwardA business entity incorporated under the laws of one of the European Union (EU) member nations contracts with the government of a developing nation to form a joint venture for the mining and refining of a scarce raw material used by several industrial nations in the manufacture of highly sensitive weapons systems. The contract calls for the EU-based corporation to invest money and technology that will be used to build permanent refinery plants that eventually will revert to the developing nation. The developing nation also reserves the right to set quotas on sales of this scarce resource and to choose the destination of exports. Due to political conflicts, the developing nation refuses to allow any exports of the scarce material to the United States. This causes a sharp price increase in exports to the United States by other suppliers. The United States asserts antitrust violations against the EU-based corporation for the effects produced within the United States. Should the United…arrow_forwardIntel made large loyalty payments to HP in exchange for HP buying most of their chips from Intel instead of rival AMD. AMD sued Intel under the antitrust laws, and Intel settled the case by paying $1.25 billion to AMD What incentive conflict was being controlled by these loyalty payments? What advice did Intel ignore when they adopted this practice (consider how the Robinson-Patman Act applies to their practice) and speculate why Intel ignored the advice.arrow_forward
- Give me a South African case related to Breach due to a delay in performance by the creditor (mora creditoris) Provide the principle, facts of the case and the court’s decisionarrow_forwardThe U.S. Polo Association (USPA) is a not-for-profit corporation that is thegoverning body of the sport of polo in the United States. It has been in existence since 1890 and derives the majority of its revenue from royalties obtained from licensing its trademarks. It owns more than 900 trademarks worldwide, including marks bearing the words “U.S. Polo Assn.” with the depiction of two polo players for licensees on products sold in the apparel category. In 2009 it produced 10,000 units of a men’s fragrance using packaging featuring its logo as used on apparel. Since 1978 PRL (Polo Ralph Lauren) and its licensee of PRL trademarks, L’Oreal, have used the mark known as the “Polo Player” logo on men’s fragrances with its logo containing one player. The fragrance has been sold for 32 years and it was voted into the industry’s Hall of Fame. PRL sued USPA. What must PRL establish to prevail in an action for trademark infringement? How would you decide this case?arrow_forwardAurum Fields Ltd (“Aurum”) is a gold mining company. Dr Lilly le Fleur is one of 10 directors of the company. Lilly is a senior professor in the Faculty of Management Studies at the University ofRosebank, in Johannesburg. Lilly consented to be a director on the board of Aurum Fields Ltd in 2019. In January 2020, the directors of Aurum discovered that Lilly had misappropriated an amount of R200 million rand from the company by allowing money due to the company to be paid into her personal account. Q.3.1 Assume for this question that you are Aurum’s attorney and they approach you for advice. Explain the two ways in which Lilly may be removed from the board of directors. Your answer must include the requirements that must be met. Q.3.2 Assume that one of the two meetings referred to in Q.3.1 above made the decision to remove Lilly from the board of directors. Who are the persons, besides a shareholder or a director, that apply to court for Lilly to be declared a delinquent director? List…arrow_forward
- Aurum Fields Ltd (“Aurum”) is a gold mining company. Dr Lilly le Fleur is one of 10 directors of the company. Lilly is a senior professor in the Faculty of Management Studies at the University ofRosebank, in Johannesburg. Lilly consented to be a director on the board of Aurum Fields Ltd in 2019. In January 2020, the directors of Aurum discovered that Lilly had misappropriated an amount of R200 million rand from the company by allowing money due to the company to be paid into her personal account. Q.3.3 Distinguish between a director that is ineligible and one that is disqualified. In your answer, include names or categories of persons who are ineligible and disqualified. Q.3.4 List any four grounds for an order of delinquency.arrow_forwardSalman v. United States was decided by the United States Supreme Court on December 6, 2016. The case revolves around the actions of Bassam Yacoub Salman, an individual who obtained insider information from his brother-in-law, Maher Kara. The Supreme Court, in the case of Salman, embraced the Ninth Circuit's interpretation, which states that an individual who provides insider information to a trading relative or friend obtains a personal benefit as an insider-tipper. The Court dismissed the additional conditions set forth by the Second Circuit in United States v. Newman. arrow_forward Step 2: Salman v. United States, Clarifying Insider Trading Law in the United States. Salman v. United States, decided by the Supreme Court in 2016, is an important case that clarified the law regarding insider trading in the United States. To understand the significance of Salman, it is essential to review the legal theories of insider dealing that preceded it, namely the Classical Theory, the…arrow_forward31 - Which of the following bear only the obligations of being a trader?A) Government official who has established a commercial enterprise although it is prohibited to engage in commercial activitiesB) A pharmacist operating a pharmacy without the permission of the Ministry of Health.C) A 15-year-old person who runs a business on his behalf, even partiallyD) A 25-year-old person who runs a business on his behalf, even partiallyE) A person who acts with third parties in good faith on behalf of a company that does not exist legallyarrow_forward
- Determine the legality of the transaction. KlineCorp wants to conduct business with Company B in another country. While visiting Company B, the management team of Company A offers some of the foreign employees some free products from their company. Legal or illegal, depending on the purpose Legal bribe Illegal bribearrow_forwardThe Maricopa County Medical Society (Society) is a professional association that represents doctors of medicine, osteopathy, and podiatry in Maricopa County, Arizona. The society formed the Maricopa Foundation for Medical Care (Foundation), a nonprofit Arizona corporation. Approximately 1,750 doctors, who represent 70 percent of the practitioners in the country, belong to Foundation. Foundation acts as an insurance administrator between its member doctors and insurance companies that pay patients’ medical bills. Foundation established a maximum fee schedule for various medical services. The member doctors agreed to abide by this fee schedule when providing services to patients. The state of Arizona brought this action against Society and Foundation and its members, alleging price fixing, in violation of Section 1 of the Sherman Act. Who wins? Explain.arrow_forwardThree banks that are wholly owned by the Republic of Costa Rica had issued promissory notes, payable in U.S. dollars in New York City. The notes are now in default due solely to actions of the Costa Rican government, which had suspended all payments of external debt because of escalating economic problems. Efforts by Costa Rica to curb foreign debt payment difficulties conflicted with U.S. policy for debt resolution procedure as conducted under the auspices of the International Monetary Fund. A syndicate of U.S. banks brought suit to recover on the promissory notes. The three Costa Rican banks assert the act of state doctrine as a defense. Should the doctrine apply? Explain.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education