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Read the Ace Heating and Cooling scenario and answer the following questions:
a. Under UCC 2-302, who has the best chance of getting out of the contract due to unconsionability?
b. The symbol for justice features a woman wearing a blindfold illustrating that the law should be applied the same way regardless of who the parties are. Does the UCC rule seem to contradict this? Which approach do you think is more ethical?
c. Note that both Glamour and Shady Rest are businesses, and courts rarely find that contracts between two businesses are unconscionable. The rationale is that a business is a sophisticated entity, familiar with transactions and able to protect itself. Do you think Glamour and Shady Rest are in a comparable position in regard to this contract? Why or why not?
Nora transfers real property with a basis of $2,000,000 and a fair market value of $10,000,000 to an existing partnership for an interest therein. Shortly thereafter, the partnership distributes $3,000,000 to Nora. Describe the tax consequence..
1. tf restitution is classified as an equitable remedy2. tf when an assignment is made the assignee has the right
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The peer-to-peer sharing allowed on the Internet has impacted the ability for entities such as major corporations and musicians to control the use of their products and profits.
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