Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 12, Problem 10Q
Summary Introduction
To determine: Whether person C bond by her promise to pay the loan.
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4. Markus owed Landers $5,000, and since Markus had fallen on hard times, Landers cut the debt in
half. Some months later, Markus was successful in getting a good paying job, and wrote a cheque
payable to Landers for $2,500 with his thanks. Landers wrote back suggesting that Markus now
pay the remaining $2,500.
What is Markus' obligation?
Khalil bought Roots Café in
New York from its previous
owner. Khalil was eating a meal
at Roots Café and mentioned
to the owner that he would like
to own a business of his own
someday. The owner also had
purchased the restaurant but
was never able to make it a
profitable business. The owner
offered to sell Khalil Roots
café. Khalil got a loan from a
family member and was able
to buy the company assets for
$8,000 less than the seller's
asking price. Through which of
the following sources has
Khalil found out that Roots
Café was for sale? *
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Hidden market
A "for sale" sign
Restaurant association
Sam owes Nick $200,000. Sam goes to Chase bank to take out a loan of $200,000 so he can pay off his debt to Nick. Chase agrees to make the loan but breaches its contract with Sam. Sam then defaults on his loan to Nick. Nick sues Chase bank because they breached their contract with Sam. What is the probable outcome of Nick’s suit against Chase?
Chapter 12 Solutions
Smith and Roberson’s Business Law
Ch. 12 - Prob. 1COCh. 12 - Prob. 2COCh. 12 - Prob. 3COCh. 12 - Prob. 4COCh. 12 - Prob. 5COCh. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5Q
Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10QCh. 12 - Prob. 11QCh. 12 - Prob. 12CPCh. 12 - Prob. 13CPCh. 12 - Prob. 14CPCh. 12 - Prob. 15CPCh. 12 - Prob. 16CPCh. 12 - Prob. 17CPCh. 12 - Prob. 18CPCh. 12 - Prob. 19CPCh. 12 - Prob. 20CPCh. 12 - Prob. 1TSCh. 12 - Prob. 2TSCh. 12 - Prob. 3TS
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