Fleet Bank Case Study

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Briefing Paper 1 According to the papers that were signed by Barr on behalf of The Stone Scone, Fleet Bank agreed to a $100,000 unsecured small business line of credit for The Stone Scone. The bank mailed financial reports addressed to each The Stone Scone and Barr. Fleet Bank made funds available to The Stone Scone for four years. Following that time, conversely, The Stone Scone did not construct any additional expenditure on the loan, leaving $91,444 in principal which was not paid. Pursuant to the credit contract, interest on the owed principal balance constantly accumulated at a charge of 6.5 percent per year. Bank of America, N.A., who had procured Fleet Bank, filed a suit against The Stone Scone and Barr to recuperate the principal and…show more content…
She exercised full and total power over the employees that worked at the store. Also, she demonstrated that she had the authority to buy any inventory of her choosing and from whoever she wanted. Additionally, she determined how frequently merchandise needs to be ordered, how many of such items were needed and the amount she would charge for each item. The decision to sell or not sell clove cigarettes was that of Colwell-Trujillo and not of Southland; Southland possessed zero control over her. When it came to advertising, promoting or merchandising the clove cigarettes, Southland had no decision in it. The agreement narrates that the franchisees are self-regulating contractors, and a couple of provisions give the Trujillo 's the right to formulate all inventory, employment, and operational decisions. The Cislaws were not entitled to proceed to trial. The Costa Mesa 7-Eleven franchisee is not an agent of the Southland Corporation and was affirmed by the court of appeals. Agreed, physician Antenucci is responsible for the medical malpractice jointly and individually of his partner, physician Pena. Elaine Zukerman was treated by Pena during her pregnancy, which is the source of severe medical problems encountered by her son Daniel. Operating as a general partnership was medical doctors Antenucci and Pena and therefore, was partners in their medical practice.

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