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Susan permitted Kevin to take her very old grandfather clock on the basis of Kevin's representations that he was skilled at repairing such clocks and restoring them to their original condition and could do the job for $60. The clock had been badly damaged for years. Kevin immediately sold the clock to Fixit Shop for $30. Fixit Shop was in the business of repairing a large variety of items and also sold used articles.
Three months later, Susan was in the Fixit Shop and clearly identified a grandfather clock Fixit Shop had for sale as the one she had given Kevin to repair. Fixit Shop had replaced more than half of the moving parts by having exact duplicates custom-made; the clock's exterior had been restored by a skilled cabinetmaker; and the clock's face had been replaced by a duplicate.
All materials belonged to Fixit Shop, and its employees accomplished the work. Fixit Shop asserts it bought the clock in the normal course of business from Kevin, who represented that it belonged to him. The fair market value of the clock in its damaged condition was $30, and the value of repairs made is $220.
Susan sued Fixit Shop for return of the clock. Fixit Shop defended that it then had title to the clock and, in the alternative, that Susan must pay the value of the repairs if she is entitled to regain possession. Who will prevail? Why?
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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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.
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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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