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
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Chapter 5, Problem 1CT
Summary Introduction
Case summary:An amount of $2 million was deposited into an escrow account by the person RS. The account was managed by a company owned by the person SC. The escrow agreement was violated and the funds were withdrawn immediately. A suit was filed by the person RS against the person SC and his daughter, CC. There was no cooperation by the person SC as he refused to be present in the court. The court observed that the act of the person SC was intentional, and awarded $6 million in the person RS’ favor. Hence, the appeal was filed.
To Find:The effect of the person SC’ actions on his business in the long run.
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The Legal Environment of Business: Text and Cases (MindTap Course List)
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