Business Law Case Study

1517 Words4 Pages
bulb-icon

Recommended: Business law 1 2

The University of Rummidge organises a conference entitled "Law for small Businesses" which is followed by a luncheon at the Grand Hotel. Jim, a law lecturer, is a speaker at the conference and the conference is attended by Albert who has just started a graphic design business and Percy a well-established market gardener.

At the conference Albert meets Barry, a fellow student from University days, whom he has not seen for some time. During lunch, while discussing pension investments, Barry tells Albert that if he (Albert) invests some money in Dunmore Limited (of which Barry is a director), he will obtain a good return on his investment. As a result of this advice, Albert subsequently purchases 20,000 £1 shares in Dunmore Limited. A few months later Dunmore Limited goes into liquidation and Albert loses his money.

After the conference Jim, returns to his office in the Law Faculty and finds a student from the Campus Law Centre waiting for him to request him to deal with a client's problem. Jim has agreed to support the students' efforts to provide free legal advice at the Centre and the problem concerns a claim by a Mrs Smith on her insurance policy. Jim speaks to Mrs Smith and advises her that she cannot claim but unfortunately he has failed to note an important change in the law six months earlier which affects her position. Some months later, Mrs Smith reads a story in the newspaper where someone has succeeded in identical circumstances to her own. However, it is now too late for her to make a claim on her policy.

Percy also returns to work after the conference, only to discover that while he was away a petrol tanker driven by George had veered across the road, hit a lamp post, rupturing the tank of petrol and flooded Percy's field with petrol. The crops in that field, which were just ready for harvesting at the time of the accident, are damaged and Percy is unable to sell the damaged crops . He is also unable to plant and sell a further field of crops because of the state of the land.

Advise Albert, Mrs Smith and Percy.

TO advice Albert

This case can be classified as mis-statement causing financial loss. Barry is the person who negligently gave Albert an advice. Albert acted upon those words causing his financial loss.

Lord Reid limited claims in negligence to cases where

-the advice is given in a professional capacity

Show More
Related

  • Contract Law Case Study

    1012 Words  | 3 Pages

    When discussing the concept of contract law, there exist two bodies of legal rules that may apply to the contract. These bodies are the common law of contracts and Article 2 of the Uniform Commercial Code or the UCC. The common law of contracts is court made and is constantly changing, but the UCC is required in every state within the U.S.A. It is important to know which one to use and when, as well as what the differences between them are.

    Read More

  • Xerxes Company Case Study

    1017 Words  | 3 Pages

    Alfalfa, a novice rock climber, decided to go on a very difficult climb. Half way up, he found himself in trouble. Darla, a more experienced climber, at great peril to herself, rescued Alfalfa from almost certain serious injury, if not death. Alfalfa was so grateful for what Darla had done that he promised to send her a check for $1,000. Alfalfa failed to send the check and Darla sues him for breach of contract. Judgment for whom? Explain.

    Read More

  • Insider Trading , Jeffery Archer

    407 Words  | 1 Pages

    Brook Saib was the aide of Jeffery Archer. The article shows that he has access to brokers and invests a lot. What happened was that Jeffery bought shares through a different broker than the usual, with the name of Brook Saib and the profits transferred to Saib’s account. The odd thing is that also a profit of 80,000 pounds has left Saib’s account. And over that, he said that “dare not say” where the money is.

    Read More

  • Case Study : Business Law 201

    2539 Words  | 6 Pages

    This is a complex case, involving multiple parties and several variables that need to be examined thoroughly. The parties mentioned include Knarles operator of the facility maintenance company, his son Barkley, their employee, a licensed plumber, and Mr. Chetum. Although in the end Chetum is suing the facilities maintenance firm for a breach of contract, all factors must be examined to determine proper fault.

    Read More

  • Upton Sinclair's Purpose in Writing The Jungle

    1128 Words  | 3 Pages

    A Lithuanian lawyer is sought to read over the contract. for the purchase of their house. Jurgis is suspicious when the lawyer and the agent are on a first-name basis. However, when the lawyer tells him that it is a legal and fair document, Jurgis. believe him to be true. The lawyer does not tell him of the loopholes that will eventually lead to the loss of the house.

    Read More

  • A Discussion of George Fletcher’s Paradigm of Reciprocity

    937 Words  | 2 Pages

    The second issue is whether or not the defendant has an obligation to reimburse for an injury. The outcome of this second issue depends whether or not it is rational for the defendant to have to pa...

    Read More

  • Equuscorc Case Study

    1302 Words  | 3 Pages

    The decision in Equuscorp is significant, as it has made clear several principles that were once ambiguous under Australian law. It ratifies that restitutionary remedies are unavailable for a claim for money had and received where recovery would reduce coherence in the law. Furthermore, Equuscorp has confirmed that a bare cause of action can be assigned where the assignee has a genuine commercial interest in its enforcement.

    Read More

  • The Complexity of Contract Law in the Yumy Chocolate Case

    1039 Words  | 3 Pages

    The scenario I have been given highlights the main complexity of contract law. It touches on issues such as unilateral contracts, revocation as well as advertisement. I will be advising Mick (claimant) answering: Whether Yummy chocolate is liable to give a year supply of chocolate as advertised?

    Read More

  • Pride in Humanity has Led to the Downfall of Many

    711 Words  | 2 Pages

    Yet, this taste of success created a ravenous and seemingly insatiable desire for something more, something greater. And, so, this lawyer decided that it was not enough to simply have an influence within the courtroom. Rather, he also had to be on the most prestigious boards so that he could influence what went on outside of the courtroom as well. In order to get on one particularly important committee, the requirement was that a lawyer had to have at least 30,000 clients. This lawyer found himself in a quandary; at the time, he only had 200.

    Read More

  • Billy Jean Owed Donald & Co: Duty Of Care

    690 Words  | 2 Pages

    It is highly unlikely that a court would find that Billy Jean owed Donald and Co a duty of care to avoid the purely economic loss. Pure economic loss is described as financial, monetary loss generally attributed to ‘damage’ to an individuals ‘wallet’. For a claim to be valid and considered the steps to pursue a cause of action in negligence must be followed, the first of which is establishing a duty of care owed, in this case by Billie Jean to Donald & co. In this case it is found that no duty of care is owed and thus no claim for compensation can be lodged. In an attempt to establish a duty of care the plaintiff must be deemed vulnerable under the salient factors, the plaintiff being Donald & Co which in this case are not vulnerable. This characterisation of non-vulnerability is derived from the class of sale of the property as well as numerous general assumptions as to the experience of Donald & Co. It is expected under the assumption of Caveat Emptor as well as for the magnitude of purchase that Donald & Co have access to the building records and history of inexperienced builder Billie Jean as well as the financial status of

    Read More

  • Negligent Misstatement Case Study

    1471 Words  | 3 Pages

    The liability for negligent misstatement may arise from pure economic loss. According to Steele (2010), ‘Economic losses will be regarded as “pure” if they do not flow from any personal injury to the claimant nor from physical damage to his or her property’. The boundaries between “pure” economic loss and the loss which is “consequential” from damage were established by the Court

    Read More

  • Criminal Law Case Study

    1386 Words  | 3 Pages

    The offence Harry would be charged with is William’s murder. The area of Law that this case is concerned with is criminal law (homicide). The two offences that constitute homicide are murder and manslaughter. The classic definition of murder was set by Sir Edward Coke (Institutes of the Laws of England, 1797). Murder is defined by the Law as causing the death of a human being within the Queen’s peace with the intention to kill or cause grievous bodily harm. It comprises of 2 elements. These are the actus reus (guilty act) and the mens rea (intention).

    Read More

  • Fraudulent Representation

    1158 Words  | 3 Pages

    Business law is very broad concept of law which covers all the legal issues that include many commercial and domestic cases which make up most of the civil cases and there are only few criminal cases where there has been serious breach of law. With the help of reference to relevant case law, this essay will argue that Bob Wheelie suffered economic loss due to fraudulent

    Read More

  • Business Law Case Analysis

    736 Words  | 2 Pages

    The defendant is an Airlines Company that had 900 employees. The economic crisis followed with monetary crisis gave bad effects to the defendant. They should decrease the number of their airplanes form 9 to 2 airplanes. They also had to do the efficiency on their employees to 700. On the efficiency process, there was an agreement between the defendant and employees representation on October 30 1998. The agreement stated that they would bring Independent Public Accountant to analyze company financial condition. During the process, all side should work on their duty. The Defendant should pay employees’ wage. The agreement was not guarantee that didn’t mean the dispute process was over, but the negotiation still moved on. During the process, there was another agreement between the defendant and several employees. They agreed the finish the disputed process and the employees would get separation pay. Meanwhile, other employees, who were 153 people didn’t agree with that agreement. Because they didn’t agree each other, so the employees gave the case to the “Panitia Penyelesaian Perselisihan Perburuhan Pusat (P4P)”.

    Read More

  • Real Estate Transaction

    600 Words  | 2 Pages

    Naive too cannot escape the hangman; the expectations of a lawyer aren’t what is depicted by him. In Hedley Byrne & Co Ltd v Heller & Partners Ltd [1964] AC 465, the courts made a rule that if someone possesses a skill and undertakes to use that skill to assist someone a duty of care then arises in that event. In this case Naive was a lawyer and therefore he had a duty to disclose information during the transaction.

    Read More

More about Business Law Case Study

Open Document