Business Law and Sale of Goods Midterm Questions at April 20 GMT-3 designed to take you 1.5 hour15 short answer questionsThe sample and review material wer

Business Law and Sale of Goods Midterm Questions at April 20 GMT-3 designed to take you 1.5 hour15 short answer questionsThe sample and review material were attached below. 1
Instructions.
There are 15 questions.
* Please create a word document and include your name, A number, and whether you are
in the 11:30 or 4:00 class.
1. Alex plays for Saint Mary’s varsity basketball team. She broke her leg when a player
on the other basketball team crashed into her leg when Alex was taking a jump shot.
Alex’s lawyer assessed Alex’s damages as $10,000 for lost income, $1,000 for
physiotherapy, and $2,500 for pain and suffering.
But when the judge told Alex that she “voluntarily assumed the risk of getting
injured” she didn’t know what that meant. Please explain to Alex what that means and
how it effects her total damages calculated to be $13,500.
During the sports activities, there always a chance to get hurt. Alex is willing to
play Basketball, and no one forced her to do so. In the process of exercise is likely to
occur dangerous, she participated in such an activity should be aware of these risks, she
knew the risk but still participated in the activity. So that is why she have to pay for her
own lost.
2. Because of the coronavirus pandemic Saint Mary’s University emailed all the
professors and staff and told them that they were not allowed to go into their offices and
any buildings on the SMU campus until further notice. However, Professor Wade used
his access card to enter the back door of the Sobey Building to go to his office to get
some papers. Campus Security saw him on a video camera. They went to his office and
took him by the arm and removed him from the building.
What intentional tort did Professor Wade commit? Explain your answer.
Trespass to Land. Because the virus, the school told all the professors shouldn’t
go to their office. But the professor Wade still used his access card to enter the office
without permission.
3. Dr Oz hosts a weekly television show devoted to giving advice about healthy living.
On one show he told his television viewers that the real secret to a good life was to eat
two spiders every day for one week each year. When Kim who watched the show ate her
first spider she had an allergic reaction and could not work for one week. She sued Dr Oz
for giving negligent advice and not warning her of the dangers of eating spiders.
The judge who heard the case dismissed it saying that there was not sufficient
proximity between Dr Oz and Kim and therefore Dr Oz did not owe Kim a duty of care.
Explain why the judge would say this.
Because Dr Oz and Kim don’t know each other, He never suggested Kim to eat
spiders or force her to do so. She ate the spider of her own accord. Dr Oz doesn’t owe
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Kim a duty of care. In this case, the defendant didn’t owe the plaintiff a duty of care. So,
Kim will not win the case.
4. Billy Schnare, a partner of Accurate Accounting, LLP specializes in tax accounting.
Zero Industries Ltd hired him to give them advice on how to reduce their taxes.
Zero Industries followed Billy Schnare’s advice. Later that year they received a letter
from the Canada Revenue Agency (the government agency responsible for taxation in
Canada) stating that their tax avoidance scheme was illegal, that they had to pay an
additional $200,000 in taxes, a $25,000 penalty for tax evasion, and 15% interest on the
$200,000 amount they owed.
Zero Industries Ltd is thinking about suing Billy Schnare for negligence. They
want to know whether Billy Schnare breached the standard of care? Did he? Why/Why
not?
Yes, Billy Schnare breached the stand of care. Billy Schnare should be
professional, but he offered the Zero Industries an illegal tax reduction strategy. That
cause Zero Industries have to pay an additional $200,000 in taxes, a $25,000 penalty for
tax evasion, and 15% interest on the $200,000 amount they owed.
5. What type of situations are punitive damages awarded for in a tort case?
The primary aim is to compensate the victim/plaintiff for their injuries, as far as
money can. In exceptional cases punitive damages are awarded to punish the defendant
and to discourage them and others like them from doing the same thing again.
6. Michael Crosby’s dream was to be a chef. The first thing he did when he graduated
from the Community College was to register his new catering business as a sole
proprietorship. His first job was to prepare all the food for a birthday party.
Unfortunately, he left the cold meats out in the hot sun. Everyone at the party got food
poisoning and each person was unable to work for three days. Michael was confident he
would not have to pay any damages for negligence out of his own savings because his
business was registered as a sole proprietorship. Is he correct? Why/Why not?
No, he has to pay the money. Because he registered his company as sole
proprietorship, he has to bear the risk and lost by his own. So, if Michael is charged for
any damages for his negligence, he has to pay for the damages out of his own savings.
Because legally prescribed, sole proprietorship’s owner have to pay the lost.
7. Susan and Billy registered as partners in a house building business. Susan thought they
needed a new truck for moving building materials. Without consulting Billy about
purchasing a truck for the business Susan bought a new truck and paid for it with a
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cheque drawn on their partnership bank account. Billy was furious he was not consulted
and told Susan she should pay for the truck with her own money.
Susan told Billy they were partners and that she (Susan) had the legal right to buy
the truck using the partnership’s money. Is Susan correct? Why/Why not?
Susan is not correct, because they were partners, if Susan want to use the money,
she has to have the permission of Billy. In the general partnerships, partners have a duty
of loyalty to each other and investing or doing anything without informing other partners
or without their consent is a violation of duty to the partnership.
8. Three people formed, and registered, a limited partnership (LP) to carry on a fish
selling business (Two General Partners, One Limited Partner). The name of the limited
partner was part of the registration documents. To celebrate the end of their first year in
business, they went on a hunting trip together. The truck in which the three were
travelling crashed on the way to their destination. There was only one survivor who was
the limited partner.
A creditor who had not been paid by the business obtained a court order stating
that the LP must repay the creditor $30,000. Upon hearing of the death of the two general
partners, the creditor wanted to recover the $30,000 from the surviving limited partner’s
personal assets.
Is the creditor correct? Will the creditor be successful? Why/Why not?
limited partners who are investors; they risk losing only what they invested.
whether the creditor be successful only depends how much does the limited partner have
invest.
9. What is the key difference between the voting rights of owners of common shares of a
company and the voting rights of owners of membership shares of a cooperative?
In voting rights of owners of common shares of a company, one person can own
more than one share. One share = one vote. Owners of Members of a coop can only have
only one vote.
10. How do the shares of a cooperative help foster and promote the aims, principles, and
values of cooperatives?
Shares of cooperative meet the cultural, economic needs of its members. They
achieve their goals and make money through democratic decision-making, fairness,
caring for the community, educating members.
11. Both a corporation and a cooperative are said to be a legal person, having a separate
legal existence. Explain what that means.
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It means corporation and a cooperative are a separate legal entity which can do
anything a person can do: hire employees, fire them, buy and sell property, take out loans,
make contracts, sue another party for negligence.
12. Andre worked as President for East Coast Fish & Shellfish Exporters Ltd. who sold
fish and shellfish throughout the world. He thought there was an excellent business
opportunity to export seafood to Spain, and a chance to make some extra money for
himself. So one evening at home Andre bought 1,000 pounds of lobsters over the
telephone with his own money and made all the arrangements to have them exported.
When the Board of Directors of East Coast Fish & Seafood Exporters Ltd. heard of the
sale they immediately terminated Andre’s employment. Andre believed that he did not do
anything wrong because he used his own money and bought and sold the lobster on his
own time.
Would the Board of Directors of East Coast Fish Exporters Ltd. be justified in
ending Andre’s employment? Why/why not?
I think it’s justified, because as the president of East Coast Fish & Shellfish
Exporters Ltd. He has responsibilities to act in the best interests of the company. To put
the company’s interest above/before their own personal interest. When he sees an
opportunity, he should report the matter to the company.
13. El Paso Inc hired Goldman Sachs Corp to advise it whether to split into two
companies or to sell the company (El Paso Inc) to Kinder Morgan Corp.
Goldman Sachs Corp owns 20 per cent of the shares of Kinder Morgan Corp
(worth about US$4 billion) and has two seats on its board.
What is the problem with this situation? How would you recommend it be solved?
The question is which company should Goldman Sachs stand for the best interest.
The problem of this situation is El Paso hired Goldman Sachs who already owns shares of
Kinder Morgan Corp. In my opinion, these two companies can also cooperate, which is
good for all three companies
14. Wally and Barry are equal shareholders of Walbar Ltd, and both are officers and
directors of Walbar Ltd, which operates a pool hall. There are several pool tables in the
establishment, but one table in particular is not used very often by patrons. Wally decided
to take it home and set it up in his basement. When Barry objected, Wally replied, “Look,
it’s my company too. Because I own half the pool tables I have a legal right to take the
pool table home if I want to.”
Is Wally correct? Can he take the pool table home? Does he own one-half (0.5) of
the pool tables? Why/why not?
No, Wally is no correct, he can not take the table, he doesn’t own one-half (0.5) of
the pool tables. Because the table is company’s property, he has no right to do this, Wally
and Barry are equal shareholders, he can’t take the table unless he pay for this.
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15. Typecast LP. is comprised of Live Magazine Inc which is the general partner, and
several limited partners including Mahnaz.
Mahnaz is also the sole shareholder and president of Live Magazine Inc. In his
capacity as President of Live Magazine Inc, Mahnaz is the manager of Typecast LP.
On behalf of Typecast LP Mahnaz signed a contract with Clear Graphics Ltd to
provide printing services worth $50,000 to Clear Graphics Ltd.
Clear Graphics Ltd paid Typecast LP $50,000 but Typecast LP did not do any of
the work they promised. Clear Graphics Ltd got a court order saying that Typecast LP
must pay $50,000 to them (Clear Graphics Ltd).
Unfortunately, Clear Graphics Ltd discovered that neither Typecast LP nor its
general partner Live Magazine Inc has any assests.
Can Clear Graphics recover the $50,000 from Mahnaz? Why/why not?
Yes, because Typecast LP is comprised of Live Magazine Inc as general partner,
Mahnaz has two different identities. First, as the limited partners of Mahnaz, he doesn’t
have to pay for this. Second, as sole shareholders of Live Magazine Inc, he has the
responsibility to pay for this.
Like the midterm you will have all day to do it.
It is designed to take you 1.5 hours. The level
of difficulty is intended to be equivalent to the
midterms. Please submit it on Brightspace via
Dropbox or email it to me. Please make sure
you put your name your answer document.
The final exam will consist of 15 short answer
type questions in total:
5 Questions on Introduction to Law and
Contracts
5 Questions on Intentional Torts, Negligence,
and Business Organizations
5 Questions on the Sale of Goods and the
Consumer Protection Act
Regarding the sale of goods questions, there
will be 5 short answer type questions
describing a scenario and then asking
whether the sale of Goods Act or the
Consumer Protection Act can be used to help
the person in the situation described. They
will be similar to the questions on the review
sheets. I will be looking for two things in your
Like the midterm you will have all day to do it.
It is designed to take you 1.5 hours. The level
of difficulty is intended to be equivalent to the
midterms. Please submit it on Brightspace via
Dropbox or email it to me. Please make sure
you put your name your answer document.
The final exam will consist of 15 short answer
type questions in total:
5 Questions on Introduction to Law and
Contracts
5 Questions on Intentional Torts, Negligence,
and Business Organizations
5 Questions on the Sale of Goods and the
Consumer Protection Act
Regarding the sale of goods questions, there
will be 5 short answer type questions
describing a scenario and then asking
whether the sale of Goods Act or the
Consumer Protection Act can be used to help
the person in the situation described. They
will be similar to the questions on the review
sheets. I will be looking for two things in your

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