Neil recently obtained his Florida sales associates license. He then decides to open his own office and hire four sales associates to work under him. Neil and his four sales associates agree to split any commissions earned by the four associates 50/50. Has Neil violated any licensing laws? О О No. If a sales associate runs their own office, they are permitted by law to hire up to four sales associates to work under them. Yes. Only licensed real estate brokers can open their own office and hire sales associates to work under them. No. All of Neil's actions are permitted under state law. Yes. As a sales associate himself, Neil is only permitted to take up to 25% of the
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- LouAnn has spent the past 15 years building a bakery business and her reputation in her small community shows by her high volume of sales and her customer loyalty. Dillon contracts with LouAnn to purchase her bakery. What type of agreement would a court allow Dillion and LouAnn to enter into in the sale of this business? A performance based agreement A restrictive adhesion contract A usury agreement A restrictive covenant An exculpatory agreementChuck, Bob, and Bert form CB&B Partnership to run a specialty grocery store. Bert is the day-to-day manager of the store, Bob buys the groceries, and Chuck does all the administrative work. Bob decides he would like a new car to drive to visit prospective wholesalers. He makes a contract with Big Ben Motors in the name of CB&B without consulting Chuck and Bert. The partnership is: a. bound by Bob's ostensible authority to buy a car. b. bound by Bob's apparent authority to buy a car. O c. not bound because buying a car is outside the scope of the partnership business. O d. bound by Bob's actual implied authority to buy a car.In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your answers in light of the principles learned on breach of contract. (maximum 500 words)
- Kerry purchases the Level I software at a price of $50 for his son, Tom, on December 1. Suppose Tom passedthe Level I test on December 10, and Kerry immediately purchased the access code for Level II for an additional$30. Cutler provided Kerry with the access code to Level II on December 20.Required:When would Cutler recognize revenue for the sale of Level I and Level II software?For each independent situation, determine the amount, if any that is includible in the gross income of the employee. The employee of a motel has the choice of free lodging on the premises (fair market value $400 per week) or extra cash compensation. He is not required to live on premises. He chooses the lodging. An employee arranges to have his annual bonus, $1,000, paid directly to his son. His objective is to make a wedding gift to the son. An employee earns a salary of $500 per week. Pursuant to a court order, $100 of his salary goes to his ex-wife for child support.Wigan Associates is a recently formed law partnership. Ellery Hanley, the managing partnerof Wigan Associates, has just finished a tense phone call with Martin Offiah, president ofWidnes Coal. Offiah strongly complained about the price Wigan charged for some legal workdone for Widnes Coal.Hanley also received a phone call from its only other client (St. Helen’s Glass), which wasvery pleased with both the quality of the work and the price charged on its most recent job.Wigan Associates operates at capacity and uses a cost-based approach to pricing (billing)each job. Currently it uses a simple costing system with a single direct-cost category(professional labor-hours) and a single indirect-cost pool (general support). Indirect costs areallocated to cases on the basis of professional labor-hours per case. The job files show thefollowing: Widnes Coal St. Helen’s GlassProfessional labor 104 hours 96 hoursProfessional labor costs at Wigan…
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