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Owen Monie obtained a loan from Home Banc to help pay for his tuition at Big University. Owen granted the bank a mortgage on his home as security for the loan and the mortgage was properly recorded. The loan agreement and mortgage were silent regarding Owen's right to sell the house. During an inspection with his real estate agent, Owen discovered some of the piping in the house consisted of polybutylene, a type of plastic known for breaking. Three months prior to graduation, Owen sold the home to Cole Dusack. Since only a portion of the house contained the questionable piping and the cost to replace the entire system was estimated to be around $7,500, Owen did not disclose the presence of the polybutylene pipes. Cole did not expressly assume or agree to pay the loan Owen took out for his tuition and the bank did not expressly approve or disapprove of the sale, nor did it agree to release Owen from the liability of the loan. Seven months after the deal closed, a pipe broke causing over $10,000 in damages. Was Owen entitled to sell the home even though it was subject to a mortgage? Is Owen still liable for the loan? Is Cole obligated to pay the loan? What remedies does Cole have against Owen related to the sale of the house? Does Cole or Owen have a cause of action against any other party?
The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..
This assignment is about the concept of Business Ethics & Legal Issues. The laws relating to these can be found in Antitrust laws. These laws are concerned with those large corporations which have a majority of market share, mergers and acquisitions.
Examples of securities that are exempted from the registration provisions of the 1933 Act and involving misstatement of material facts in a prospectus.
With the aid of a decided cases, discuss the doctrine of ratification of pre-incorporation contract.
It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on individuals.
Company Law, Application of Law to Facts and Conclusion.
This assignment related to business law.
Answer all the questions under business law.
Iidentify the issue(s) raised by the facts, identify the relevant legal principles, apply the relevant legal principles to the facts, reach a conclusion.
Prepare a report and present an evaluation of the subsequent methodologies for software development in terms of cost, resources and time.
Business value and ethics, Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart ..
Advise what tax consequences arise in respect of the payments.
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