Assignment: Business Scenarios
Select two of the scenarios listed below and explain the best solution for each. Include comments related to any ethical issues that arise. You should locate at least one scholarly source from the SUO Library or one case that has been decided or is currently pending to support your answer.
Scenario 1 - Bailment
Minnie leased a storage space from National Warehouse, Inc. (National) and agreed to pay a monthly fee to lease the storage unit. Minnie stored several items in the unit but never told National as to the nature or quantity of articles. Minnie was free to visit the unit any time, as well as store and remove goods at will without notifying National. Minnie locked her storage unit with her own lock and key and did not furnish Nation with a key. Subsequently, certain personal property belonging to Minnie disappeared from the storage unit. Minnie sued National to recover damages of $6,350.
• Was a bailment created? Make arguments for both sides and support your answer with information from the textbook and other scholarly sources.
Scenario 2 - Insurance
Professor Black knew that her colleague, Professor Brown had Stage 4 colon cancer. Black applied for life insurance on Brown's life and named herself as the beneficiary. Because of a similarity in the names of the professor and the colleague, an error was made and the policy was issued.
Professor Black also sold her Ford Escape to a student, Reed. When the student drove away, it was clear that the student was an extremely reckless driver. Professor Black decided not to cancel her property insurance policy that she maintained on the vehicle she sold to the student. Shortly thereafter, the colleague, Professor Brown died and the student totaled the car. Professor Black applied for insurance benefits under both policies and each of the insurers denied payment.
• What are the arguments for each party in both cases?
• Decide which party should win each case and provide support for your answer with the applicable law and/or text material.
Scenario 3 - Property
Harrison conveyed land in Savannah, Georgia to the Trustees of the Savannah-Chatham County Public School System (SCCPSS) by warranty deed "to be used for school purposes only; otherwise to revert to Grantor." The school district built as school on the land. Harrison also conveyed the adjoining farmland and his reversionary interest in the school to the Jacksons, who in turn conveyed their interest to the Martins. Both the school and farmland adjoin the Martin's land. More than 20 years after SCCPSS build the school, the school district discontinued holding regular classes at the school. The school building was used as a warehouse and stored school equipment, supplied, unused desks and similar items. Martin filed a lawsuit to gain title of the school property.
• Make arguments for Martin and SCCPSS, determine which party should win and support your answer with information from the textbook and other scholarly sources.
Scenario 4 - Mislaid or Lost Property
Alexis was a guest staying at the Holiday Inn Express in Jackson, Tennessee while conducting an audit of a manufacturing firm for her employer. Alexis found a bundle of money in the rear corner of a drawer in the dresser in her room. Alexis notified the hotel manager, who contacted the police. The police took custody of the money, which contained $18,000 in $100 and $20 bills. Alexis sued to recover the cash. Mazi, the owner of that hotel joined the lawsuit to claim the money.
• Provide arguments for both parties, determine which party should win and support your answer with information from the textbook and other scholarly sources.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.