How the comapny proceed potential legal and business risks

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Reference no: EM133294968

Question:-You work in the legal/business affairs department of Apex, Inc., a New York Corporation. You have been informed of the following three matters and asked by your boss, Harry Rivera, Apex's president, to furnish him with a memorandum advising him of the potential legal and business risks and how the company should proceed relating to the following four matters.

1. The company intends to expand its sales by starting a sales division dedicated to making high volume telephone sales of its products and services.

2. The company intends to market a new line of products to a large base of high school students aged 14 through 17.

3. Apex is seeking to sell its San Francisco warehouse for $500,000. A potential buyer is visiting next week to inspect the warehouse. As Rivera knows, the heating/air conditioning/air filtration system in the warehouse is faulty and on the verge of complete breakdown. This condition cannot be discovered by a cursory inspection of the factory. If asked about the system, Rivera will answer truthfully and likely reduce the asking purchase price. However, if he is not asked specifically about the system, he does not plan to mention it.

4. Rivera gave the following written and signed memorandum to Mary Brown, an employee of Apex: "Dear Mary, the company will give you a holiday bonus of $5,000 for Christmas 2022. Signed, Harry Rivera, President, Apex Corp." Rivera now regrets having done this and wants to know if this would be enforceable by Mary Brown under common-law, GOL 5-1105 and/or GOL 5-1103.

Reference no: EM133294968

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