01 May QuestionWho owns the house? (graded)
Question
Who owns the house? (graded)
On August 9, 1995, McCarthy executed an offer to purchase Tobin’s real estate on a pre-printed form generated by the Greater Boston Real Estate Board. The OTP contained, among other provisions, a description of the property, the price to be paid, deposit requirements, limited title requirements, and the time and place for closing
The OTP required that the parties “shall, on or before 5 p.m. August 16, 1995, execute the applicable Standard Form Purchase and Sale Agreement recommended by the Greater Boston Real Estate Board. which, when executed, shall be the agreement between the parties hereto.” In the section containing additional terms and conditions, a typewritten insertion states: “Subject to a Purchase and Sale Agreement satisfactory to Buyer and Seller.” The OTP provided, “Time is of the essence hereof.”
On August 16, 1995, sometime after 5 p.m., Tobin’s lawyer sent a first draft of the purchase and sale agreement by facsimile transmission to McCarthy’s lawyer. Over the next 10 days, the lawyers for the two parties discussed changes to the first draft of the purchase and sale agreement and on August 26, McCarthy signed the agreement and his lawyer forwarded the signed agreement and deposit money to Tobin’s lawyer via overnight delivery.
On August 26, Tobin accepted an offer from a second buyer, Davis. On August 27, Tobin’s lawyer told McCarthy’s lawyer that Tobin had accepted Davis’s offer.
Was the offer to purchase executed by McCarthy and Tobin a binding contract? Explain why you think your answer is correct.
Time for Tort Reform? (graded)
In 2008, torts cost an average of $838 per year for every American. The 2011 update from Towers Watson yielded the following key findings.
U.S. tort costs increased by 5.1% in 2010. The increase is attributable to the April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico. Absent the cost from this event, tort costs would have shown an overall decrease of 2.4% in 2010.
The U.S. tort system cost $264.6 billion in 2010, which translates to $857 per person, versus $820 per person in 2009.
Are tort cases costing too much? Are Americans too litigious? Is it time for tort reform? What do you think? Remember to give reasons for your opinions.
week 4
Employers—Do They Need to Know? (graded)
Many people begin to participate in social media at a very young age. Years later, indiscrete comments and visuals are accessed by prospective employers. Increasingly, employers are mining social media to turn up information on job applicants. Some employers make access to your Facebook account a condition of your application. Should employers have a right to do this, or should there be a law that prohibits them from demanding access to your social media sites?
Labor Unions (graded)
More than a third of the U.S. Labor Force was unionized in the mid-1950s. By 2011, union membership had declined to slightly more than 10%, a 70-year low.
According to the Pew Research Center, while overall 64% of Americans believe unions are necessary to protect the working person, 57% agree that “labor unions have too much power.” (Pew Research Center, Trends in American Values. Released June 4, 2012) http://www.people-press.org/2012/06/04/section-5-values-about-business-wall-street-and-labor/Retrieved June 13, 2012.
Do we need labor unions to counterbalance the power of big corporations? Explain your answer, and provide links to any outside material you found useful in forming your answer.
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