#1- Meta Investments, inc., offers to buy johnson computer corporation. On January 1st, Johnson gives meta copies of Johnsons financial statements for the previous year. The statements show an inventory of $1 million. On January 15th, Johnson discovers that the previous year's inventory is overstated by $500k but does not inform Meta. On February 1st, Meta relying on the financial statements, buys Johnsons. On June 10th, Meta discovers the inventory overstatement. Can Meta succeed in a suit against Johnson for fraud? why or why not?
#2- Hawks Properties, a real estate investment and sales firm, presents a form contract to its customer Floyd, who wants to buy a certain quarter acre of land in a proposed housing subdivision that Hawks is marketing. Hawks does not pressure floyd to sign a contract but offers its form on a take it or leave basis. If floyd signs the form, is it enforceable? why or why not?
#3- Robby promises to pay her cousin Jonny, who is dangerously obese, $10,000 if Jonny loses 100 pounds within the next 2 years. Jonny agrees, performs his part of the bargain, and asks for the money. Robby refuses to pay, saying that she forgot about the deal, but that even if she did make such a pledge, there was no valid consideration for it. Jonny files a suit against Robby. In whose favor is the court likely to rule and why?
#4- Real Estate investments Inc. owns and manages an office building. Secure insurance company agress to lease the building for 5 years. Under the lease, secure is obligated to pay all of the utility costs. Two years into the term, secure askes real estate to modify the lease to provide that the utility costs be split equally between them. Real estate agrees, but later decides it does not want to share the costs and refuses to pay. Is the landlord bound to its agreement to share the utility costs? why or why not?
#5-Baby products inc. hires cole to develop and implement an e-commerce strategy for marketing Baby's products. Cole signs a contract that includes a clause prohibiting him for competing with Baby during and after the employment. Before the strategy is implemented, cole resigns from baby's employ and opens a business to compete with baby. In babys suit against cole, to determine whether cole may compete with baby, what is the most important factor the court should consider?
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