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Maurizia Reeser
Answers (11)
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Ronald Coase argued that property rights should never be assigned to the party that is generating a negative externality.
On Aug 01, 2024
False
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At age 16, Smith was a promising young hockey player. He was drafted by the Fredericton Firebirds to play for their club, a junior team one step below the professional league. One year into the contract, the Firebirds terminated the contract and required all of their players to sign new four-year contracts. Smith was to receive $250 weekly, along with room and board and the flexibility to complete his high school studies. In return, Smith agreed to play only for Fredericton and gave them the right to trade him to any other team or terminate the contract at any time. On his 18th birthday, Smith visited the general manager of the Firebirds, and repudiated his contract. Smith had received offers from the professional league, which promised him far greater instruction with superior coaching, as well as $200,000 per season. Smith felt that an early jump on a professional career was vital to him, considering the early retirement age of most hockey players. The general manager was upset with Smith and vowed to bring a suit against him if he signed with the professional league to set an example for the other players. Smith signed the contract with the professional team, and the general manager brought suit against him.
Discuss the contractual issues raised in this case, and discuss in particular the issues of capacity, enforceability, and repudiation that bear in this instance. What aspects would a judge take into account in rendering a decision and why?
Discuss the contractual issues raised in this case, and discuss in particular the issues of capacity, enforceability, and repudiation that bear in this instance. What aspects would a judge take into account in rendering a decision and why?
On Jul 30, 2024
Smith's contract, signed when he was an infant, falls into the category of contracts of service, which are only enforceable if the contract was for the benefit of the infant at the time it was made. Students will no doubt argue that the contract was beneficial to Smith since experience in the junior leagues is the only avenue to a career in professional hockey. It would be further argued by the general manager that the Firebirds were taking a chance on Smith, giving him the benefits of instruction and exposure to the scouts of the professional league.
On the other hand, students have been presented with good reasons why the contract under its current formulation is disadvantageous to Smith, as it reduces his potential playing time as a professional, and the level of his achievable professional income. The text is quite right but emphasizes that beneficial contracts of service are enforceable against minors, so there is indeed basis for a student to conclude that Smith is bound by the contract. The courts do look to the long-term nature of the benefit conferred upon the minor and if the contract is in fact in the long term prejudicial, it will be held unenforceable against the minor. Since Smith's repudiation is timely and he has not ratified the contract he is quite likely to be excused from its performance. This case is based upon the case of the professional hockey player John Tonelli, who for these reasons of long-term benefit, was allowed to repudiate his contract with the Toronto Marlboro Junior A Hockey Club.
Citation: Toronto Marlboro Major Junior A Hockey Club v. Tonelli (1979), 23 O.R. (2d) 193.
On the other hand, students have been presented with good reasons why the contract under its current formulation is disadvantageous to Smith, as it reduces his potential playing time as a professional, and the level of his achievable professional income. The text is quite right but emphasizes that beneficial contracts of service are enforceable against minors, so there is indeed basis for a student to conclude that Smith is bound by the contract. The courts do look to the long-term nature of the benefit conferred upon the minor and if the contract is in fact in the long term prejudicial, it will be held unenforceable against the minor. Since Smith's repudiation is timely and he has not ratified the contract he is quite likely to be excused from its performance. This case is based upon the case of the professional hockey player John Tonelli, who for these reasons of long-term benefit, was allowed to repudiate his contract with the Toronto Marlboro Junior A Hockey Club.
Citation: Toronto Marlboro Major Junior A Hockey Club v. Tonelli (1979), 23 O.R. (2d) 193.
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Employee motivation, teamwork, corporate culture, employee education, performance management, and rewards are the six aspects in the quality improvement program known as "Six Sigma."
On Jul 01, 2024
False
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According to Chester Barnard, directives falling within the zone of indifference are obeyed, whereas those falling outside of it are not considered legitimate under the terms of the psychological contract.
On Jun 30, 2024
True
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Junk Food.Mary Dogood,a member of the school board in ABC County,is appalled at the amount of junk food in the schools.She convinces the state legislature to pass an ordinance that no stores may sell any unhealthy junk food within 500 feet of any school or day care center.A teacher of political science raises the issue of whether the regulation is valid and is told that it is a valid exercise of the jurisdiction's police power to protect its citizens.Convenience stores balk at the regulation and challenge it in court.In determining whether the law is constitutional,which of the following will a court likely ask?
A) Whether the state regulation is needed for a compelling reason.
B) Whether the state regulation is rationally related to a legitimate state end.
C) Whether the state regulation is needed for an important reason.
D) Whether the state regulation will impact tax revenue.
E) Whether the state regulation is needed for a compelling reason and also whether the state regulation will impact tax revenue.
A) Whether the state regulation is needed for a compelling reason.
B) Whether the state regulation is rationally related to a legitimate state end.
C) Whether the state regulation is needed for an important reason.
D) Whether the state regulation will impact tax revenue.
E) Whether the state regulation is needed for a compelling reason and also whether the state regulation will impact tax revenue.
On Jun 01, 2024
B
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Which of the following theories emphasizes the nature of the interaction between an individual and the environment?
A) Maslow's hierarchy of needs
B) Expectancy theory
C) McClelland's need theory
D) Herzberg's two-factor theory
A) Maslow's hierarchy of needs
B) Expectancy theory
C) McClelland's need theory
D) Herzberg's two-factor theory
On May 31, 2024
B
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Even economists who advocate small government agree that national defense is a good that the government should provide.
On May 02, 2024
True
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The term ________ is used to describe how well a process makes units within design specifications (or tolerances).
On May 01, 2024
process capability
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The basic conservative solution to welfare dependency is ___________________.
On Apr 30, 2024
forcing people off welfare
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Suppose you buy eight pairs of shoes every spring.This year,your shoe store has a huge sale and you end up buying 12 pairs.How does your consumer surplus now compare to how much it would have been had there been no sale?
A) It is higher.
B) It remains the same.
C) It is lower.
A) It is higher.
B) It remains the same.
C) It is lower.
On Apr 30, 2024
A