Business Administration

Question 1- Describe and define the five specific elements that are required to have a legally enforceable contract, and provide an example of each of the following: a valid contract; a void contract, and a voidable ...

Question 1- Describe and define the five specific elements that are required to have a legally enforceable contract, and provide an example of each of the following: a valid contract; a void contract, and a voidable contract. Can a statement of opinion lead to a claim of fraud and erode contractual intent/ Why or why not? (Question Grade Value- 20 Points) Question 2- What is the Statute of Frauds and give us six examples of contracts that must be in writing to be enforced? Why do we have this requirement? What is the Parol Evidence Rule and why do we have this requirement? Describe the five equitable and four legal remedies that can be utilized to deal with contracts that are breached? ( 20 Points) Question 3- What is the UCC and why do we have it? Define what Course of Performance, Course of Dealing, Usage of Trade, and Requirement Contracts are and how they relate to the UCC? Does the UCC apply to Service Contracts, and if not is there an exception where it would, and what is that exception? What is e-commerce and what is the E-Sign Act, and why is that Act so important to business transactions today? (20 Points) Question 4- If you were the Philadelphia Phillies and you wanted to hire two experts for a two-year period to enhance activities that are environmentally friendly, would you hire them as independent contractors or employees, and why would you choose that status for them? What three factors do Courts look at to determine if a worker is an Employee or an Independent Contractor? Is the employer liable to third parties for the employee’s actions, and if so what is an example where the employer would not be liable? How does an employer protect itself from liability to third parties from Independent Contractor actions? Why do we have Workers’ Compensation Statutes and do these Statutes preclude the employee from suing their employer? Can the employee sue third party contractors who are contracting with their employer, even if they cannot sue their employer under Worker’s Compensation Laws, and if so give an example? (20 Points) Why do we have Business Laws.? List five specific areas where having business laws resolves possible disputes between parties. List five groups and/or individuals who receive benefits by having Business Laws. (20 Points)