The problem I encountered about two months ago was between two tenants in my grandfather’s house.
Linda is a boutique owner she’s been in the business for eight years. She recently took a loan from the bank to expand her business.
This is not her first time of taking a loan from the bank, she has taken money from the bank a couple of times and has been able to pay back all the time. According to Linda she was looking forward to expanding her business. She wants to own another store in the city where she could sell more clothes and bags and make more money. Linda talked about her idea to Remy a tenant in my grandfather’s house as well. Remy is also in the business of selling clothes. But he goes from office to office to sell his stuff
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Linda made a list of the clothes she gave to Remy, she also gave him a copy.
According to Linda instead of Remy paying back the money and sticking to their agreement he didn’t do that. Linda said “I gave him clothes worth one thousand cedis he return to give me only three hundred cedis. I asked him where the rest of the money was and he said he gave the items to his customers on credit.” Linda said she carefully explained to Remy the consequences of not being able to pay back the bank loan. She told him not to give the clothes on credit anymore to which he agreed. Remy asked to be given more clothes and Linda agreed hoping that he would pay back everything he owed her.
Remy sold these items as well and paid back two hundred cedis for the first items he took making a total of five hundred cedis. Then Linda asked where the rest of the money was, he said his customers said they are used to taking clothes from him on credit and paying in installment but Linda wasn’t very happy about it. In the meantime the date set for Linda to start paying the loan was due. So she urge her business partner to get the rest of the money from his customers so she could make the necessary payments. But Remy told her to borrow money from her friends to pay the bank because he didn’t have all the money, this went on for about for a couple of weeks. She also kept giving him clothes to sell during this period. And he always return
7 days later, Cecelia found out the stamp collection had a market value of $1,000 and demands an amount of $1,000 to be payed because so far, Digna has payed
Walker, Takem’s has the statutory law of contracts in his favor. In a contract, the seller and the purchaser have certain rights and obligations. Four basics must be met for a contract to be created (Chrisman, 2014). First, the offer has to be made. In the case at hand, the door-to-door salesperson made an offer of a computer to Ms. Walker. Second, the consideration has to be accepted. Ms. Walker accepted the offer to purchase a computer. The third step is capacity. The purchaser must be legally capable of entering into a contract; minors and the mentally incompetent are excluded in this case. Takem’s has given Ms. Walker the computer in exchange for her payments on her store account. Finally, the intention to enter into a contract has to be present. Ms. Walker signed a bill of sale, a security agreement, and a negotiable promissory note- which is an unconditional promise to pay a certain sum of money at a certain time in the future. Though Takem’s has the advantage to combat her claims, Tommy needs to ensure that his salespeople have not made any false statements or misrepresentations to Ms. Walker as this could have legal implications for the store and against the contract (Vaccaro, 1987). Ms. Walker is legally bound by the contract she agreed to in exchange for the computer; however if there has been any misrepresentations or false statements Ms. Walker may be able, with legal assistance, to call the contract into question
Hugh recently purchased a motorcycle for $4,000 but has had extensive problems starting the motor. In disgust at not being able to start the motorcycle, Hugh shouts to his friends, "Any of you want to buy this thing for $20?" A contract will be formed if a friend gives Hugh a twenty-dollar bill.
Applying for a credit card or personal loan has never been easier or faster. A myriad of financial products are available for all types of clients and all kinds of purposes. Terms and conditions are even becoming more and more flexible. How to decide whether a credit card is needed? How to handle a card? How to settle a loan? How to spend a loan? How to spend a car loan on a car, whose price is relatively reasonable compared to one’s pay? Is a loan the good sourcing tool to purchase a very expensive? These are all questions, which require a minimal to reasonable level of financial literacy.
This story is about Matilda and her husband. Matilda receives an invitation to attend to a party, but she has no jewelry to wear, so she borrows one from a rich friend. Unfortunately, Matilda loses the necklace at the party and has to buy a new one worth thirty-five thousand francs. She works for years to repay all the money she borrowed, but when she finally gets all the money, she finds out the necklace was worth “No more than five hundred francs.” This story has two unexpected twists in it: she loses the necklace and she works for years to pay it off, only to find out it is less than one sixth of what she paid. How Matilda deals with finding out the price is left to the reader’s imagination, but it shows that when Matilda loses the necklace she deals with it relatively calmly, borrowing money to buy a new one and later working for years to pay it
Antoinette and Valjean formed a contract which involved Antoinette’s selling of the Vespa. The contract was enforced because they both had the contractual capability, because both parties were in sound mind and over the age of 18. Also, the contract was not criminal or intended to be harmful to anyone. Finally, there was consensuses between both parties about the price of the car. Antoinette broke the consensus of the contract when she withdrew it last minute and was therefore not intending to perform all elements of the
In the first case study, we learn about Adele, a secretary who has the ability to write checks for her company in order to buy office supplies. Adele, needing money for groceries for herself and daughter, ends up writing a check out to herself with the intent of repaying it. Instead,
The following day, Charles receives a call from the attacker who calls himself Vasquez, and asks for $10 000. Feeling desperate, he takes some money from Anna’s medical treatment fund to pay Vasquez. A month later, Vasquez calls again, and this time he demands more - $100,000. Later on, Charles feels that he...
Suppose you have a man who is in dire need of having his house painted, but, the house being very large, doesn’t want to do it himself. One of his friends is well aware of how greatly in need his friend’s house is of being painted, and therefore he offers to paint the man’s house for twenty dollars. The man thinks to himself: “Wow, what a nice guy! My house is this big, and he’s going to paint it for just twenty dollars!” Therefore, he agrees to pay his friend twenty dollars in exchange for painting the house. He talks to his friend a few days later, and he says: “Hey, pal! We’re still on? Twen...
Butler’s short-term loan options are completely maxed out, so the company has no cash flexibility. Inventory levels indicate Mark is ramping up in expectation of the massive influx of sales in the warmer months. More of Butler’s sales are in the warm months, when repairs are easier to make in the Inland Northwest. The loan will give Butler the ability to finance more inventory to meet the expected growth in sales.
One cold morning Sam Black woke up with aching chest pain. Troubled by this new condition he went to see his Heart Doctor. Little did Sam know that hours later he would be lying on the operating table in route for a triple bypass surgery. The surgery went as planned, but it was not the last of them. Sam was sent to many specialists and rehabilitation centers, building a large bill, which they had no money to pay them with. He still pays several grand a year for the medication he is prescribed. Years after the operation Sam and his wife, Elsie, have narrowly escaped foreclose, however the most problematic debt they have is the hundreds of small term loans with interest rates in the triple digits. Elsie once said in an interview regarding the loans they had to take out, “You can’t really keep up with them” (Wright, 2011). Almost a decade later Sam has trouble speaking and has to carry around an oxygen tank. This is a normal couple that got caught in the continuous cycle of payday loans. Like other millions of Americans The Black family settled for shady overpriced short-term loans.
She borrows a beautiful necklace from a friend.The necklace is lost after the party. Poor Monsieur Loisel goes out alone and searches all night and day for the jewels but has no luck. Loisel comes up with a plan to buy another necklace and return it to Mathilde's friend.This is quite a man. He takes his inheritance from his father; then, he borrows the rest of the money. They return the necklace. But that is just the beginning. For the next ten years, the Loisels work together to pay for the replacement necklace. Monsieur Loisel works a second job at night. They even give up their apartment. Both of them age tremendously over the years. Mathilde is no longer beautiful. She has hardened:She came to know the heavy work of the house, the hateful duties of the kitchen. She washed the dirty linen, the shirts and dish-cloths, and hung them out to dry on a string; every morning she carried up the water.The author never lets the reader know if Mathilde appreciated her husband for taking care of her. They did accomplish something together, and she did rise to the occasion and do the hard work of the home. In reality, the hero of the story is Monsieur Loisel who worked alongside his wife to pay back the money for
“Will you stop talking about the sandals? Didn’t I just tell you there was no need for sandals? What is the matter with you?” Mrs. Vithanage rarely raised her voice to reprimand any of her servants…”(pg 46) Latha was continually walking and working on her feet all day and her shoes were old and torn, she was in bad need of a new pair of shoes but Mrs. Vithanage wouldn’t allow her, this was a form of hatred. “What do you need money for? It’s safer in the bank.” Mrs. Vithanage despised Latha so much, she didn’t even reward her with her daily pay. Latha worked 10 years with 2 bonuses, and Mrs.Vithanage said she put it all directly in the bank, but why. Why couldn’t Latha use her money sometimes on the things she desired, or even needed such as new shoes.
The familiar smell of soft cookies and homemade cooking are common thoughts when people think about their grandma's house. Great feasts and family gatherings play a part in everyone's grandmother's home. But when I really think about my grandma's house only one word comes to my mind: fun.
When I think back to the days when I was a child, I think about all of my wonderful childhood memories. Often I wish to go back, back to that point in life when everything seemed simpler. Sometimes I think about it too much, knowing I cannot return. Yet there is still one place I can count on to take me back to that state of mind, my grandparent’s house and the land I love so much.