Running head: BUSINESS LAW
Date 1/9: Property
Chapter 26: Estates and Trusts
Va Va, John’s mother will not win the case because the will is a joint will, and it cannot
be revoked since John’s wife died without any amendments to the will. The will is valid since it
was written and signed by John, the testator and proved by a lawyer/law firm (declaration under
oath). John’s mother will lose the case because it clearly states that all property belonging to
John should be transferred to Dodge. Va Va has no right to claim the invalidity of the will
despite her being a close relative of John. William, John’s brother and Va Va would be legible to
claim the property as close family members if there was no valid will written.
In this case, the court should replace the trustee of the trust inter vivo trust between Roy
and Icie because the existing trustee does not possess special skills, or does not use the special
skills to make prudent judgment over the dispute. According to section 7-302 of the Uniform
Probate Code (UPC) provisions, a trustee should be able to make prudent judgment and use
special skills in handling distribution of trusts among beneficiaries involved. So, the court should
replace the trustee who can have the required skills to handle the dispute and distribute the trust
according to terms of the trust.
Problem 8 NO QUIZ 8
Chapter 27: Insurance Law
The court was correct to hold that the plaintiff (Harber and U.S.A Properties) had no
insurable interest. Although, the insurance policy stated in year time limit, which had not
expired, the insurance interest was default at the time the fire incidence happened. It means that
the policy was void and Harber and U.S.A Properties could not use to claim the loss.
POI was not entitled to summary judgment in spite of the fact that it (POI) is the insurer.
Although the terms of the liability policy excludes such injuries as death resulting from the trip,
POI should not have made a summary judgment since it did not confirm whether the recreational
trip was business oriented. If the trip was not related to Cope’s business, then, POI would be
eligible to the summary judgment.
The lengthy investigation of IIC after the Plummers reported the occurrence of fire
indicates that IIC had no good faith because it delayed in doing the investigation. In addition, the
additional charges covering consequential damages due to lengthy investigation is not part of the
value of the destroyed property. In this case, the charges of the breach of contract by IIC could
be more because of time increment that increase the loss. So, IIC arguments upon appealing are
Date 1/30: Commercial Paper
Chapter 33: Liability of Parties
According to the fictitious employee rule, AFT Trucking is liable to pay Money Stop for
any loss because it is responsible for having untrue employees. It does not give Fehl the authority
of signing the checks yet she has access to the checks. So, Money Stop holds AFT Trucking any
liability for any inconvenience caused.
The merchant can recover the $2,900 from First National Bank because of its negligence
in writing the check in a way that permitted alteration. The bank has no reason for defense of
check alteration by Smith to read $2,900 instead of $29. Therefore, the merchant has right to
recover the whole $2,900 from the bank.