BUSN 420 BUSN420 Final Exam Answers
1. (TCO 1) Your company owns a piece of land and is in the middle of purchasing this property to expand their footprint in the community. At the last minute, the seller has backed out of the deal, leaving you with few options. Your supervisor wants to explore the options for remedies in this case.
What remedies would be available given the type of transaction and outcome at stake? Would legal damages make the company whole? What equitable remedies may be available? Explain your answer highlighting the difference between remedies at law and remedies at equity?
2. (TCO 2) The senators of Delmarva would like to enact a statute banning the importation of any plant material into the state. Although the ban may be burdensome on interstate commerce, the state’s first concern is protecting their income-producing agricultural byproducts from micro-organisms that may affect the health of the crops. There is no effective way to inspect plant material for micro-organisms at its border.
Is this statute legally legitimate? What clause of the Constitution would you use to perform your analysis and what are the elements of the test that would be applied to test its constitutionality?
3. (TCO 3) Create a brief scenario and walk it through the litigation process, beginning with how to select the proper jurisdiction of a court, and progressing through the basic steps leading to a resolution of the dispute through appeal.
4. (TCO 4) Tom tells Bob that he will pay Bob $5,000 to put a cherry bomb in his gas tank so that Tom can collect money from the insurance policy on a new, cherry red sports car. If Bob carries out Tom’s wishes and places a cherry bomb in the gas tank of Tom’s car, but Tom then refuses to pay Bob, what recourse does Bob have to recover on the agreement he claims to have with Tom? Can Bob recover? Why or why not?
5. (TCO 5) Joe makes an offer to sell an order of produce to Bud for $550. It is a great deal and Bud jumps at the chance to accept Joe’s offer. Before Bud can get the money together, Joe sells the produce to Sal because he needs the money right away for a down payment on a tractor. Is the contract between Joe and Bud enforceable under the UCC? If Joe and Bud have an e-mail exchange that documents their agreement, does this change your answer? Why or why not? (Points : 20)
6. (TCO 6) Choose an administrative agency you have learned about or encountered in the business world. Using this agency, create a scenario and walk the agency through the rulemaking process to promulgate legislation that pertains to your business sector of interest. (Points : 20)
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