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Problem
Robin Hood was an excellent archer and was the owner of Straight Shot Archery, Incorporated. The Merryman Annual Archery Tournament was taking place in three months. Friar Tuck wanted to compete in the tournament, however, he wanted to improve his skills with the bow and arrow and decided he was going to take a few lessons at Straight Shot Archery. Robin agreed that he would provide Friar Tuck 15 lessons for $2,500 beginning on June 1. On May 25, Robin Hood made a contract with Sheriff Nottingham, where Robin Hood would provide Sheriff Nottingham 20 lessons for $3,000. Two days later, Robin Hood was flooded with more contracts to provide lessons. He subsequently realized that he would not be able to provide the lessons to Friar Tuck before the tournament, so he delegated his responsibilities under the agreement to Big John. Big John contacted Friar Tuck and notified him that he would provide him the lessons on June 1. On that same day, Sheriff Nottingham realized that he did not have enough money, so he transferred his right under the contract to Maid Marian. Maid Marian notified Robin Hood that the contract had been assigned to her and demanded that Robin hood provide her with the lessons for $3,000. Answer the following questions. Discuss if Friar Tuck is required to have Big John perform on the contract to provide him lessons. Discuss if Robin Hood is required to perform on the contract to provide lessons to Maid Marian.
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..
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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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