Business questions

| October 26, 2015

(TCO E) For the first 180 years of our county’s existence, there was no protection in the work place, schools, retail outlets, or virtually anywhere for individuals based on their race, gender, religion, age, etc. Discrimination was common in the work place, schools, restaurants, etc., until the 1960s. Four pieces of Federal Legislation in 1963, 1964, 1967, and 1990 have succeeded in establishing strict legal standards to prevent discrimination in our society. Identify and summarize these four pieces of Federal Legislation, and the protection they provide to prevent discrimination in our society. List the Five Protected Classes under our current laws. (Points : 30)

(TCO G) You have been serving as a legal/financial advisor to a family of small business owners who operate under several different company structures in the retail business. There are five active members of the family running four different companies. The family members have all accumulated a significant amount of personal wealth, averaging about $750,000 each. The family members have used two of the four companies which have been incorporated to accumulate significant debt. The equity in the two corporations is in the RED (negative), and the family members are transferring additional debts into these corporations. The family is considering further such debt transfer, and then filing Bankruptcy to try and unload the total family and business debts. As their lead Legal/Financial Advisor, the family members have ask you to define the three Chapters of the Bankruptcy Code, Chapters 13, 11, and then 7, and then recommend which one they should pursue. They also tell you to advise them on any risk they may incur in shifting debt and possibly funds among themselves personally, and between themselves and the two corporations that are absorbing the debt in preparation for the Bankruptcy Filing. (Points : 30)

(TCO B, C, G, I) ABC Computers is a manufacturer and seller of personal computers and tablets. ABC entered into agreements with suppliers requiring that such suppliers not sell ABC’s computers below ABC’s suggested minimum retail price and in return, ABC would not sell its products at retail prices in the store owners’ territories. ABC decided not to sell any more computers unless an additional software package was purchased. A competitor informed the Office of the Attorney General of this policy, asserting it was illegal. Additionally, the new model of ABC’s computer has caught on fire, causing injuries to consumers. Explain what ABC should do to protect consumers. Also consider whether there have been any violations under the antitrust and related laws and the governmental agencies involved in these types of cases.

(TCO C) A teenage worker in a fast food hamburger store was operating the french-fry machine. As normal, the grease was bubbling as the fresh cut potatoes were inserted to be fried. The young worker dropped his ballpoint pen into the boiling grease. He reached into the grease quickly to recover his pen, thinking he could get the pen out without being burned. He was off course badly burned on his wrist and hand. Does the young fast food worker have a claim against the french-fry machine manufacturer for Product Liability? Should the fast food store manager be held liable for the young worker’s injuries? (Points : 30)

(TCO A & F) Ownership of property has long been a major benefit of businesses in the U.S. and on the World Stage. Such property varies from Real Property, Tangible Property, and Intangible/Intellectual Property. Define these three types of property in daily business terminology, and give examples of each such property. (points: 30)

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