Question -You have been asked to estimate the market value of an apartment complex that is producing annual net operating income of $44,500. Four highly similar and competitive apartment properties within two blocks of the subject property have sold in the past three months. All four offer essentially the same amenities and services as the … -You have been asked to estimate the market value of Read More »

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Question-You have been asked to estimate the market value of an apartment complex that is producing annual net operating income of $44,500. Four highly similar and competitive apartment properties within two blocks of the subject property have sold in the past three months. All four offer essentially the same amenities and services as the subject. All were open-market transactions with similar terms of sale. All were financed with 30-year fixed-rate mortgages using 70 percent debt and 30 percent equity. The sale prices and estimated first-year net operating incomes were as follows: Comparable 1: Sale price $500,000; NOI $55,000Comparable 2: Sale price $420,000; NOI $50,400Comparable 3: Sale price $475,000; NOI $53,400Comparable 4: Sale price $600,000; NOI $69,000 What is the indicated value of the subject property using direct capitalization?
Smith sued Ariens for injuries sustained while operating a snowmobile
Question Smith sued Ariens for injuries sustained while operating a snowmobile in a field. The snowmobile hit a rock that was partially covered by snow. On impact, the right side of Smithsface came down and hit a brake bracket on the left side of the snowmobile. The brakebracket had two sharp metal protrusions on the inside that were toward the plaintiff’s face.What theory of recovery best supports the plaintiff’s case? Explain. Should the plaintiff be awarded damages? Why?
Carla Contractor Company contracts to build a house for Lisa for $500,000. The house is completed on time and
Question Carla Contractor Company contracts to build a house for Lisa for $500,000. The house is completed on time and is in conformity with contract specifications except that Carla’s workers forgot to put in Kohler plumbing fixtures in the master bathroom and instead mistakenly put in another slightly less expensive and not as prestigious brand. Otherwise the house is fine and is in conformity with the contract, but now Lisa refuses to pay for the construction of the house, saying the performance was defective due to the mistaken fixtures. What is the likely legal result of this dispute? a. Lisa is discharged from any and all contract responsibility and does not have to pay anything and can successfully sue Carla for breach of contract. b. Lisa can sue and prevail since under the Uniform Commercial Code Carla’s performance was not perfect. c. Lisa must pay Carla the agreed upon contract price minus an amount to correct the defect since the “substantial performance” doctrine of the common law prevails. d. Lisa can sue for “pain and suffering” damages since she was stressed out by the “inferior” plumbing fixtures.
With Driver at the wheel, Driver and Passenger motored into town.
Question With Driver at the wheel, Driver and Passenger motored into town. Passenger fell asleepduring the trip. Driver parked 5 feet from a fire hydrant, next to a bank, in violation of amunicipal statute which bans parking within 10 feet of a fire hydrant. Driver went intothe bank to make a deposit. Passenger remained asleep. Trucker, who was drivingdown the street where the bank is located, suddenly swerved the truck to avoid hitting adog which darted into the street and in front of Trucker’s truck. Trucker’s truck smashedinto Driver’s car resulting in a serious injury to Passenger.Had Driver parked anywhere else, Trucker’s truck would not have smashed into Driver’scar and injured Passenger. Passenger sued Driver in Negligence. Discuss whetherPassenger will recover in Negligence Per Se as against Driver. Passenger sued Truckerin Negligence. Discuss whether Passenger will recover as against Trucker in TraditionalNegligence.Use all legal rules and concepts to support your analysis. Comment on ings ofyour classmates.
Eagle Manufacturing, Inc., contracted with Digital Repair Services to maintain Eagle’s computers. A “Liquidated Damages Clause” provides that Digital
Question Eagle Manufacturing, Inc., contracted with Digital Repair Services to maintain Eagle’s computers. A “Liquidated Damages Clause” provides that Digital will pay Eagle $500 for each day that Digital is late in responding to a service request. If Digital is three days late in responding, and Eagle sues to en¬force this clause, Eagle will lose, because liquidated damages clauses violate public policy. lose, unless the liquidated damages clause is determined to be a penalty. win, because liquidated damages clauses are always enforceable. win, unless the liquidated damages clause is determined to be a penalty. Superb Auto Sales sells cars, trucks, and other motor vehicles. A Superb salesperson tells potential customers, “This is the finest car ever made.” This statement likely is an express warranty. an implied warranty. a warranty of title. puffing.
Name the legal term that refers to how an offeree may accepts an offer by promising, by making a
Question Name the legal term that refers to how an offeree may accepts an offer by promising, by making a down payment or by performing? a. manner of acceptance b. method of acceptance c. type of acceptance d. intent Complete the statement. Back in the days of old England, when English judges were developing the common law of contracts in the twelfth and thirteenth centuries, a. changes in the law occurred rapidly. b. the term “contract” became common. c. promises were found not binding unless written and sealed. Complete the statement: Harm that involves Negligence is harm that a. is unforeseeable. b. is always substantial. c. arises by someone acting unreasonably/not carefully and with the foreseeablity that harm might occur. d. arises intentionally. Under a state statute , a dog owner is absolutely and totally liable to any person who is injured in any way by the owne’rs dog. This law is an example of a. negligence. b. strict liability. c. negligence per se. d. res ipsa loquitur. Describe the following.: Tom made the following offer to Jerry: “I will pay you $500 if you agree to destroy all of the mousetraps your owner has placed around the house.” Tom replied that he would. At this point, the contract is an a. executed, unilateral, express contract. b. executory, bilateral, implied-in-law contract. c. executed, bilateral, express contract. d. executory, bilateral, express contract. Ava offers to shovel the snow from Zsa Zsa’s driveway for $35. Zsa Zsa replies “OK.” Ava and Zsa Zsa have just formed a. an express, unilateral contract. b. an implied, unilateral contract. c. an implied, bilateral contract. d. an express, bilateral contract. In New Jersey Dept of Environmental Protection v. Alden Leeds, Inc. the court held: a. That the plaintiff did not have standing to sue as there was no actual injury b. That the plaintiff was liable to the defendant for filing a frivolous lawsuit. c. that the defendant was not strictly liable for the pollution caused by the chemical fire. d. that the defendant was strictly liable for the pollution caused by the chemical fire. The notion that if a plaintiff is even slightly negligent, he or she recovers nothing is known as a. insignificant negligence. b. reasonable negligence. c. comparative negligence. d. contributory negligence. In a negligence case, the plaintiff must establish a. duty, strict liability, causation, and injury. b. duty, actus reus, foreseeable harm, and causation. c. mens rea, breach, foreseeable harm, and injury. d. duty of due care, breach, causation, foreseeable harm, and damages. Which of the following types of property would be considered “goods” under the Uniform Commercial Code? a. a patent b. a promissory note c. a computer d. a stock
Complete the statement: Harm that involves Negligence is harm that a. is unforeseeable. b. arises intentionally. c. arises by
Question Complete the statement: Harm that involves Negligence is harm that a. is unforeseeable. b. arises intentionally. c. arises by someone acting unreasonably/not carefully and with the foreseeablity that harm might occur. d. is always substantial. 10 points Question 2 Barry offers to sell his 1967 collection of Chet Atkins vintage beer bottles to Larry. Before they seal the deal, Barry undergoes bariatric surgery andu dies. Which of the following statements is true? a. The offer is terminated the moment Larry dies b. Barry’s heirs must continue to negotiate the offer and sell the car, if a reasonable price can be determined. c. There is a contract if Barry accepts before learning of Larry’s death. d. Barry’s heirs will have to sell the collection to Larry 10 points Question 3 John enters into a contract to paint Chad’s house. When Chad decides on a color, John will buy the paint and paint the house for the price of $2,500. Which of the following is true? a. The common law of contracts governs because the predominant factor of the contract is for the sale of services and not goods. b. The Uniform Commercial Code governs because a sale of goods is involved. c. Both the common law and the Uniform Commercial Code will govern this contract. d. The common law of contracts governs because this is a mixed contract (one for services and goods). 10 points Question 4 Bob was a weak swimmer and foolishly ignored warning signs in a recreational swimming area and went into the deep water. He soon grew tired of swimming and realized that he could not make it back to shore. Bob saw Dorothy and cried out for help. Dorothy said, “sorry buddy” and ignored the pleas. Dorothy then had a change of heart aned Bob was finally saved by Dorothy. But Bob suffered brain damage from being submerged underwater for so long. . Bob now sues Dorothy for negligence for failing to save him in a timely manner. Bob will most likely: a. lose even though Dorothy had a legal duty to save him, since Bob will not be able to prove that Dorothy’s failure to act was the proximate cause of his injuries. b. lose because Dorothy had no legal duty to rescue him. c. lose because a reasonable person could not have foreseen that someone in a recreation area could not swim well. d. prevail because society places a duty on people to help each other and Dorothy breached this duty, resulting in Bob’s injury. 10 points Question 5 Dick offers to sell Jane his 2015 Tesla. Before Jane can accept the offer, lightning strikes the automobile and it is totally destroyed. OK, what happens now? a. The offer is terminated by law. b. Jane can still accept the offer. She will be entitled to the insurance proceeds that Dick would have received had no offer been made. c. Dick can still revoke his offer so long as he does so before Jane accepts. d. Jane can still accept the offer and Dick must find another Tesla to sell or he will be sued for breach of contract. 10 points Question 6 Kerry owns a thoroughbred horse named Prince Rogers Nelson that just ran in the Kentucky Derby. Prince came in last, much to Kerry’s frustration and embarrassment. Kerry exclaims in a loud voice, “I’m selling this horse to anyone who hands me $100!” Kerry has a. not made an offer because a reasonable person would not conclude that John had intent to make an offer. know that Kerry was just blowing off steam and was not serious b. made a resonable offer and will be bound by his offer for at least 24 hours c. made a valid offer to anyone within hearing distance and will have to sell the horse to the first person who gives him a C note. d. made an acceptance to the first person who can produce $100. 10 points Question 7 A branch of tort law that imposes a much higher level of liability when harm results from ultrahazardous acts or defective products is referred to as a. strict liability b. contract law c. heightened liability. d. strict negligence. 10 points Question 8 Which of the following statements regarding a successful negligence case brought by a plaintiff is correct? a. A plaintiff must show that the defendant’s act created a foreseeable danger even if it was not the factual cause of her injury. b. A plaintiff does not have to show that the defendant’s act either created a foreseeable danger or that the act was the factual cause of her injury. c. A plaintiff must show that the defendant’s act was both the factual cause of her injury as well as a proximate (foreseeable) injury. d. A plaintiff must show that the defendant’s act was the factual cause of her injury even if the injury was not foreseeable. 10 points Question 9 Determine which of these are valid offers: a. putting a painting for on the auction block at Sotheby’s b. a catalog full of advertisements c. a paper napkin with a note scribbled on it that includes the details of the offer d. a board with a list of prices at the deli 10 points Question 10 Which of the following types of property would be considered “goods” under the Uniform Commercial Code? a. a computer b. a stock c. a promissory note d. a patent
Ass.4This assignment should be done after studying Unit 8 and
Question Ass.4This assignment should be done after studying Unit 8 and completing the quiz for that Unit. It is worth 10% of the final course mark.Case Study A (50%):Bonzi found a necklace while staying in a hotel that is owned by Alpha Corp.A legal question arises from this scenario: to whom does the necklace belong? Which legal rules and principles you have studied in Unit 8 may be involved in answering this question? Explain them and show why they may apply. Are there any additional facts that would be required to be established before the legal issue can be fully resolved? What are they, why are they relevant, and how might they affect the question of ownership?Marking RubricMarking Criteria Comments Mark Identifies the type of property involved from a legal perspective and the legal decision to be made in relation to Bonzi /10 Identifies a legal rule which applies to people like Bonzi in the situation he finds himself /10 Identifies another legal rule which applies to original owners of found property which should be considered in answering the question /10 Identifies a third legal rule which applies to landowners like Alpha Corp. and should also be considered in answering the question /10 Lists further information which must be sought, or investigations made, before a decision can be reached and explains why this must be done based on the discussion above /10 Total /50 Case Study B (50%):MC Electric Inc sold circuit boards. Dortmund was the director of sales for MC Electric. His employment contract said he was responsible for managing the sales force of five employees, including promoting sales. Pricing decisions and overall sales strategy were the responsibility of the president.In October, Dortmund was approached by GB Circuits Co, another supplier of circuit boards which had been asked to quote on a large order from a manufacturer of telephones, A-Tel. GB could not fill all the A-Tel order itself and proposed that MC should submit a quote for what GB could not supply and, if MC were successful, it would pay over 50 percent of its profits on the order to GB as compensation for giving the MC the opportunity to bid and the introduction to A-Tel.Dortmund agreed to the deal with GB on behalf of MC. Subsequently, MC quoted and supplied 2500 circuit boards to A-Tel which were paid for. MC did not learn about Dortmund’s agreement with GB until after receiving payment from A-Tel.MC is reluctant to pay the 50 percent commission to GB and it is considering whether there is any legal basis upon which it could be argued that it is NOT OBLIGED to pay the commission.Which legal rules and principles you have studied in Unit 8 may be involved in answering this question? Explain them and show why they may apply. Which facts given in this scenario are relevant to the legal issue raised, and why? How might they affect the legal position of MC? Do you think that MC might be successful in avoiding payment?Marking RubricMarking Criteria Comments Mark Identifies the legal question which will likely be raised by MC and the area of law which is involved in answering it. /10 Describes and explains two rules or principles of law that apply to Dortmund and his actions which should be considered in answering the question of payment by MC to GB. /20 Lists and analyzes the facts that are relevant to the legal principles mentioned above. Gives arguments for both sides on the question of payment using those rules and principles in relation to the facts stated and other facts which may be suggested as possibilities. /15 Comes to a conclusion based on the discussion above and justifies it. Explains any assumptions or assumed facts used in reaching the conclusion.

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