Business Finance Homework Help

Part1: choose one chapter from Chapter 12. Contracts and Sales: Performance, Remedies, and Collection, Chapter 13. Business Marketing and Products: Ads and Product Safety, Chapter 14. Business Competition: Antitrust Law and Chapter 15. Business and Intellectual Property Law, and then pick a topic and write a brief summary on it.

Also, provide a graduate-level response to each of the following questions:

1. Sly Salesperson sells cars.  While selling a car, Sly Salesperson tells the potential buyer that “this is the best car around.  It’s a great car and sips gas.”  The car has an average fuel rating.  Has Sly Salesperson committed a misrepresentation?  Fraud?  Why or why not?  Does the analysis change if Sly Salesperson says the car get 40 miles per gallon, but in fact the car only gets 30 miles per gallon?
2. What factors have courts considered when evaluating factual statements versus opinion-based statements?  Could there still be liability for purely opinion-based statements? 
3. Explain what the Robinson-Patman Act prohibits, what is required to show a violation, and what the defenses are.
4. Explain the differences in patents, copyrights, and trademarks, including the length of each and examples of each.

Part2: Question I – Claire is severely injured in a car accident.  The local hospital cannot treat Claire’s injuries.  In order to survive, Claire must be flown via Helicopter to a hospital in a bordering state.  Prior to boarding the helicopter, Claire signs a contract obligating her to pay for the helicopter flight and all of its expenses.  Claire lives and fully recovers.  However, she is being sued by the helicopter company in the amount of $50,000 for the helicopter transportation and its accompanying expenses.  What is argument Claire could make in order to rescind the agreement?  Does it matter that the helicopter company performed its obligation under the contract?

Question II – Bono is a musician.  He sells his neighbor a gently used lawn mower at a deeply discounted price.  The neighbor is dissatisfied with the performance of the lawn mower.  Can the neighbor sue Bono under the UCC §2-314, the implied warranty of merchantability?  Why or why not?

Question III – If cigarette companies want to work with one another for a common interest, what is one example that would allow the cigarette companies to do so without violating the Sherman Act?  What source of law protects the cigarette companies’ actions?

Question IV – The year is 2012 and the light bulb has not yet been invented.  Thomas Edison and Nikola Tesla are in a bitter feud to see who can bring electricity to the masses first.  In this alternative history, it is indisputable that Tesla invented the lightbulb first.  However, Edison filed his lightbulb patent prior to Tesla.  According to the law in 2012, who holds the patent to the lightbulb?