Art gallery with keen eye for upcoming talent

Assignment Help Business Law and Ethics
Reference no: EM133458693

Question

As the owner of an art gallery with a keen eye for upcoming talent, you find a painting that you feel is sure to net a large profit from a relatively unknown artist. You contact the artist and negotiate to privately purchase the piece for $5,000, which you believe will be worth at least $25,000 in the next five years. A contract is signed to purchase the painting which is to be delivered to your gallery. Excited about the sale and with some extra time on his hands, the artist decides to do a search on you. Realizing that you are the successful owner of an art gallery, the artists feels that perhaps he sold the painting for too low of a price and returns the $5,000 check to you instead of delivering the painting. How should you proceed?

Reference no: EM133458693

Questions Cloud

Criminal responsibility : Name the company you selected and briefly summarize the crime. Do you believe that business can regulate itself to act ethically,
Difference between complicity and vicarious liability : What is the critical difference between complicity and vicarious liability? why is it difference important?
What is meant by counteroffer : What is meant by a counteroffer? What is legal effect of making a counteroffer?
Did big refrigeration company breach contract : Scott Restaurant Company purchased a commercial freezer from Big Refrigeration Company. Did Big Refrigeration Company breach the contract?
Art gallery with keen eye for upcoming talent : As the owner of art gallery with a keen eye for upcoming talent, you find a painting that you feel is sure to net large profit from relatively unknown artist.
Personal jurisdiction over sovereign consistent : California can exercise personal jurisdiction over Sovereign consistent with the Due Process Clause because Sovereign entered into a contract with Richard Nance
Public safety and emergency preparedness : Can you give me a case brief of Tran v. Canada (Public Safety and Emergency Preparedness), 2017 SCC 50 the one that involved Thanh Tam,
Potential cost of paying damages encourage large corporation : Does the potential cost of paying damages encourage large corporations to outsource jobs to other nations? Why or why not?
Plaintiff and defendant : Brief summary of the case including the facts leading up to the trial, the parties to the case (plaintiff and defendant),

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Legal environment of business caselet

The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..

  Business ethics & legal issues caselet

This assignment is about the concept of Business Ethics & Legal Issues. The laws relating to these can be found in Antitrust laws. These laws are concerned with those large corporations which have a majority of market share, mergers and acquisitions.

  Questions on business law and ethics

Examples of securities that are exempted from the registration provisions of the 1933 Act and involving misstatement of material facts in a prospectus.

  Discuss the doctrine of ratification of pre-incorporation

With the aid of a decided cases, discuss the doctrine of ratification of pre-incorporation contract.

  Discuss the extent of phoenixing activity

It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on individuals.

  Application of law to facts

Company Law, Application of Law to Facts and Conclusion.

  Question on business law and ethics

This assignment related to business law.

  Questions on business law

Answer all the questions under business law.

  Iidentify the issue raised by the facts

Iidentify the issue(s) raised by the facts, identify the relevant legal principles, apply the relevant legal principles to the facts, reach a conclusion.

  Evaluation of software development

Prepare a report and present an evaluation of the subsequent methodologies for software development in terms of cost, resources and time.

  Business value and ethics

Business value and ethics,  Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart ..

  Explain what is meant by income by ordinary concepts

Advise what tax consequences arise in respect of the payments.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd