Business Law Scenarios

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By the due date assigned, submit your answers for two scenarios to this Discussion Area. Start reviewing and responding to your classmates as early in the week as possible. You should review and critique the work of other students as outlined in the expanded rubric by the end of the week .Select two of the scenarios listed below and explain the best solution for each. Include comments related to any ethical issues that arise. You should locate at least one scholarly source from the SUO Library or one case that has been decided or is currently pending to support your answer.Scenario 1 – Holders and Holders in Due CourseGreg sold Mitch a fishing boat for $8,500, maintaining to Mitch that the boat was in excellent condition. Mitch gave Greg a check for $8,500, which Greg endorsed and gave to Denise in exchange for a debt he owed her. When Mitch took his friends out on the boat, he discovered that the boat leaked, needed to be painted, and required a new motor. Mitch stopped payment on the check, which had not yet been cashed.Scenario 2 – Electronic Funds AbuseCole Howard held an account with Regions Bank in Atlanta. Julie Wedman, a woman with whom Howard was briefly involved in a romantic relationship, stole his debit card and used it for fourteen months (well beyond the length of their relationship) to make unauthorized purchases in excess of $10,000. When Howard learned what was happening, he closed his account. The bank refused to reimburse him more than $476.56, the amount of unauthorized transactions that occurred within sixty days of the transmittal of the bank statement that revealed the first unauthorized transaction.Scenario 3 – Financial ScamsNick was the victim of a Nigerian email scam. He agreed to receive money owed to Nigel, a gentleman in allegedly located in London and would then pay the money out as directed by Nigel in exchange for a 10 percent fee. Nick received four checks totaling $37,500 and deposited them in an account at Home Bank. Nick then requested that Home Bank pay out $32,000. Thereafter, all of the checks Nick deposited bounced. Home Bank filed suit against Nick to recover the overdraft. Nick claims that Home Bank was negligent.Scenario 4 – Consumer ProtectionSuntan Enterprises (Sun), was a distributor of a product known as Sunless Tanning Tablets. The tablets allowed consumers to achieve a tan without exposure to the sun. When ingested, the tablets gave color to the skin through the use of various ingredients, one of which is thaxanthin, a coloring agent. The Food and Drug Administration (FDA) had not approved the use of thaxanthin as a coloring additive. The FDA became aware that Sun was selling the tablets. The FDA filed a lawsuit, seeking forfeiture of the tablets in the possession of the company. Sun challenged the FDA’s right to seize the tablets.Purchase the answer to view it