I need this assignment back by Sunday January 27, XXXXXXXXXXpages and please list the...

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I need this assignment back by Sunday January 27, XXXXXXXXXXpages and please list the sourcesused.
	
Document Preview: Week 1 Assignment 3 Scenario 1 - Car LotsAnswered a question, supporting the response with appropriate cases, laws, and other relevant examples.Partnership ContractsWally and Beaver were general partners in a car dealership. Using the partnership name, Wally entered into a contract to purchase 30 used cars from Car Lots. Car Lots was not aware that Wally was not authorized to enter into this type of agreement. When the cars were delivered, Beaver refused to accept the cars. Car Lots wants to enforce the contract.Each party will view this situation and the likely outcome to be different.  What are the best arguments for Car Lots?  What are the best arguments for the car dealership? After examining the facts and the various legal arguments on behalf of each party, make a final determination as to which party is most likely to win if this case were to go to court.  Be sure to base your conclusions on your analysis taking into account the facts provided, reasonable assumptions and the relevant law (as opposed to listing your personal opinion).  Week 1 Assignment 3 Scenario 2 -  Pierce the Corporate VeilAnswered a question, supporting the response with appropriate cases, laws, and other relevant examples.William Rich is an extremely wealthy entrepreneur who has owned several businesses. William sold some of the businesses while others failed and ended up in bankruptcy. Most recently, William incorporated DSM with himself as the sole shareholder. He invested $5,000 in the company as a capital contribution. DSM then purchased 1,000 acres of land for $500,000 with the intent to develop an upscale subdivision. Nine months later, DSM became unable to pay its bills. As one of DSM’s creditors, your business seeks to pierce the corporation and hold William personally liable for the company’s debts.Will your business be successful in holding William liable for DSM's debts?   What information is important when conducting this type of investigation?Explain the...

Robert · Accepted Answer

P a g e  | 1
 
 
 
 
 
 
 
 
 
 
Business Law   
P a g e  | 2
Answer Scenario 1  
 
Scenario  
 
There are two partners Wally and Beaver in a car dealership, one partner enter into a contract 
of buying thirty cars from car lots, without informing the other one. At the time of delivery 
uninformed partner rejected to accept the contact and deal.  
Position of car dealership 
 
When there is more than one owner in the company, then it is known as partnership firm. As 
Wally and Beaver are general partners, under this type of contract all the partners have equal 
position, power and responsibility in the organization. Under this type of partnership if one 
partner enters into a contract then all other partners have to abide it, it becomes an obligation 
for all the partners of the company (Miller, 2012).  
 Therefore, Beaver has two options, he can accept the contract as according to 
partnership law, unanimous consent of all the partners is mandatory and action taken 
by one must be accepted by all.  
 Another option available with Beaver is to inform Car Lots about the 
misrepresentation done by Wally and prove that he was not authorized to do so and 
make the contract voidable. Further, he can also request an order from the court.  
Position of car lots 
 
Car lots have a strong position in the market, as Wally has signed the contract with them, so 
as a buyer obligation Car dealership have to accept the goods from them. There are three 
major options available with them, which are as follow;

I need this assignment back by Sunday January 27, XXXXXXXXXXpages and please list the sourcesused. Document Preview: Week 1 Assignment 3 Scenario 1 - Car Lots Answered a question, supporting the...

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