Elements of Reasoning and Intellectual Standards

 

For our assignment this week, you may choose either Option A or Option B. Regardless of the option you choose, be sure to read through the entire assignment directions before crafting your essay.

Additionally, use the Week Six Assignment Organization Guide to help you organize your paper.

HU260 W6 Assignment Organization Guide

 Option A

Using the Eight Elements of Reasoning that were outlined in week two (purpose, problem, information, concepts, assumptions, inferences, points of view, implications, or consequences) choose a news article and break it down according to those elements. Make sure you address each of these elements. If one of these elements does not apply to your article (rare), address that in your essay and explain how the article could have been improved by including it or how the author is justified in leaving it out.

Option B

Describe how each of the Eight Intellectual Standards (clarity, accuracy, precision, relevance, depth, breadth, logic, and fairness) were used or not used in the article, supported by an example. If one of these standards does not apply to your article (rare), address that in your essay and explain how the article could have been improved by including it or how the author is justified in leaving it out.

 

For either option you choose:

Write an introduction identifying the reasons for choosing either Option A or Option B and justify your reasoning.

In the conclusion of your essay, describe how you feel the article is biased.

Keep in mind, for either option you are being asked to analyze the article/author itself/himself/herself, NOT the topic discussed. Do not include your own opinion/position on the topic being addressed.

Multiple choice

1. At one point in time, the company Gator-Aide commanded 83% of the sports beverage market. This market share was primarily due to the fact that a University of Florida professor had invented the product which became very popular and thus the company became very successful. However, there were two other competitors in the market – Coke and Pepsi, which approximately shared the rests of the market. Pursuant to Section 2 of the Sherman Act, the best conclusion regarding anti-trust liability for Gator-Aide would be:

The company would be deemed guilty of monopolization of commerce since it possessed a very high share of the market.

The company would not be deemed guilty of monopolization of commerce.

The company would not be liable since the courts would say that the market was too narrowly defined and should include other sports drinks, such as water, soda, and beer (but only light beer).

The company committed a horizontal restraint of trade by “freezing out” its main competitors.

 

2.Dan assigns to Evan a contract to buy a used car from Fran. To be valid, the assignment must

be in writing and be signed to Dan.

be supported by adequate consideration from Evan.

not be revocable by Dan.

not materially increase Fran’s risk or duty.

 

3. Digital Products Company agrees to sell to Eagle Manufacturing, Inc., a customized software system. If Eagle materially breaches the contract, the remedies available to Digital include the right

to cancel the contract only.

to recover damages only.

to cancel the contract and recover damages.

none of the above.

 

4. Shaquille is hired as a clerk in a “check-cashing store.” He receives a notice in the mail to attend “jury duty.” His boss tells him that he MUST work and can NOT attend jury duty because he is needed at work. Nonetheless, Shaquille goes to jury duty and is picked as a juror. Eventually, after a five day trial, he returns to work. His boss then fires him for being absent even though Shaquille called each day to inform his boss that he was on jury duty. When Shaquille informs his boss that he intends to sue him for “wrongful discharge,” the boss laughs and tells Shaquille that he cannot sue because he is only an employee at-will. Which of the following is the most accurate statement?

a. The boss is right since an employee at-will can be fired for virtually anything.

b. The boss is right since everyone who is absent from work can be fired.

c. The boss is wrong since there was an implied contract that Shaquille could remain at his job for a reasonable amount of time.

d. The boss is wrong because being fired under these circumstances is likely a violation of the Public Policy doctrine.

 

Multiple choice

1. Merchandise inventory: 

A) is a long-term asset. 

B)is a current asset. 

C) includes supplies. 

D) is classified with investments on the balance sheet. 

E) Must be sold within one month. 

 

2. The credit terms 2/10, n/30 are interpreted as: 

A) 2% cash discount if the amount is paid within 10 days, with the balance due in 30 days. 

B) 10% cash discount if the amount is paid within 2 days, with the balance due in 30 days. 

C) 30% discount if paid within 2 days. 

D) 30% discount if paid within 10 days. 

E) 2% discount if paid within 30 days. 

 

3. On October 1, Robinson Company sold merchandise in the amount of $5,800 to Rosser, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Robinson uses the perpetual inventory system. The journal entry or entries that Robinson will make on October 1 is: 

A)Sales…………………………5,800 

       Sales receivable ………….       5,800 

B)Sales…………………………5,800 

       Accounts Receivable………..       5,800 

Cost of goods sold……………..4,000 

       Merchandise inventory………       4,000 

C)Accounts Receivable…………….5,800 

       Sales…………………….       5,800 

D)Accounts Receivable…………….5,800 

       Sales…………………….       5,800 

Cost of Good Sold………………4,000 

       Merchandise Inventory………       4,000 

E)Accounts Receivable…………….4,000 

       Sales…………………….       4,000 

 

4. On October 1, Whaley Company sold merchandise in the amount of $5,800 to Lee Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Whaley uses the perpetual inventory system. Lee pays the invoice on October 8, and takes the appropriate discount. The journal entry that Whaley makes on October 8 is: 

A)Cash………………………….5,800 

      Accounts Receivable…………       5,800 

B)Cash………………………….4,000 

      Accounts Receivable…………       4,000 

C)Cash………………………….3,920 

Sales Discount…………………   80 

      Accounts Receivable…………       4,000 

D)Cash………………………….5,684 

      Accounts Receivable…………       5,684 

E)Cash………………………….5,684 

Sales Discount………………… 116 

      Accounts Receivable…………       5,800 

 

Multiple choice

1. You write a newspaper story about a local hobbyist. You take a dislike to the man and in your article, throw in the assertion that he molested neighborhood children. You won’t be liable for defamation if

A. the plaintiff consented to you writing a story about his hobby.

B. the plaintiff is a public figure.

C. what you said is true.

D. only one other person besides the plaintiff saw your statement.

 

2. The defendant walked up to the plaintiff, a stranger, and quietly demanded her money. No weapon was used. However, the plaintiff felt intimidated and handed over her purse. After this episode she suffered nightmares for several weeks and required a sleeping pill prescription.

A. The plaintiff has a case for conversion and appropriation.

B. The plaintiff has a case for conversion and intentional infliction of emotional distress.

C. The plaintiff has a case for conversion but not intentional infliction of emotional distress. Among other reasons, the facts don’t suggest intent or outrageous or extreme behavior by the defendant.

D. The plaintiff has a case for battery and conversion.

 

3. You’re sitting in your easy chair reading a magazine by the light of your picture window. You look up in time to see a boy throw a rock at the window. Instinctively you duck. The rock shatters the window, hitting you before falling to the floor. The boy takes off running, but the police pick him up later. What are the most torts you could reasonably claim the boy committed?

A. Assault.

B. Assault and battery.

C. Assault and battery and conversion.

D. Assault and battery and conversion and trespass.

 

4. A Massachusetts business has the name The Coffee & Tea House. Will the state allow someone to use The Coffee House Cafe as a name for their business also to operate in Massachusetts?

A. It depends. The state will have to determine whether or not the two names are XXXXX XXXXX

B. Yes, because the names aren’t identical.

C. If the Coffee House is a foreign corporation, the state has absolutely no control over them of any kind.

D. Yes, if the businesses are organized as different types of entities. 

 

Multiple choice

1. Carrie owed Charlotte $20,000. Carrie offered Charlotte a promissory note (a negotiable instrument) worth $200,000 upon maturity, which occurred in six months, as payment for the debt. Carrie had actually stolen the promissory note from her friend Samantha. Charlotte probably won’t qualify as a holder in due course because 

A. Charlotte didn’t give value for the instrument. 

B. Charlotte didn’t take the instrument in good faith. 

C. Charlotte should have known the instrument was stolen. 

D. the instrument was stolen from Samantha. 

 

2. Ella owed Mark $500. Since Ella didn’t have the money to pay Mark, she asked Mark if he would accept a negotiable instrument, such as a promissory note, as payment for the debt. Mark indicated he would accept a negotiable instrument as payment. Ella wrote out a promissory note in which she agreed to pay Mark $550 in 60 days if she failed to pay him the $500 in cash within the next 30 days. Ella’s promissory note isn’t negotiable because negotiable instrument must 

A. be payable at a definite time. 

B. state a fixed amount of money. 

C. be payable to order or to bearer. 

D. give an unconditional promise or order to pay. 

 

3. Don purchased a boat from Randy. Randy told Don that he owned the boat free and clear of all liens, which Randy knew to be false, because he had just put the boat up as collateral on a loan at the bank two weeks earlier. Don issued Randy a negotiable promissory note for $5,000 to pay for the boat. By the time the promissory note came due, the bank had repossessed the boat, making Don aware of Randy’s deception. Don will be able to avoid payment to Randy because there was 

A. a failure of consideration. 

B. a breach of contract. 

C. some sort of illegality. 

D. fraud in the inducement 

 

4. Joey makes a deposit at Hometown Bank in the amount of $500. Joey’s deposit consist of a 4500 check written to him by Ross, who banks with Crosstown Bank. Hometown Bank deposits the check with Friend’s Bank, which in turn sends the check to Crosstown Bank. Which of the following is true about this set of facts? 

A. Hometown Bank is the payor bank. 

B. Crosstown Bank is the payor bank. 

C. Hometown Bank is an intermediary bank. 

D. Crosstown Bank is the depository bank.  

 

it1

 

n this module, I include a file called Bisection Technique. I use an example similar to the textbook described in section 2.1.  I start to solve the example by hand and complete it using MATLAB. After reading the Bisection technique lesson 4 and section 2.1 of the textbook, answer the following discussion question in your own words. 

When running the Bisection method in lesson 4 (program 1.1), with a tolerance of 0.001 the answer is 1.3652 which is equivalent to p9 according to the table 2.1 from the textbook.  When running p13 in lesson 4 (program 1.2), the answer is 1.3651 which is equivalent to p13.  Which one of the answers do you think is the most accurate answer closest to the solution and why? Which of the two calculation methods do you prefer and why?  Elaborate in your answers.

file attached 

 

Lesson 4
Bisection Technique
To find a solution or root of an equation f(x) we can apply the bisection method, which is an
approximation technique to get closer and closer to the value of the root by dividing the
interval in half after each iteration.  The bisection method or binary search technique is based
on the Intermediate Value Theorem.  Suppose f is a continuous function on the interval [a,b]
with f(a) and f(b) of opposite sign, the Intermediate Value Theorem implies that a number p
exists in [a,b] with f(p) = 0.  The method calls for a repeated halving or bisecting of subintervals
of [a,b] and at each step locating the half containing p.
Example:
Does
f(x) = x
3
+4x
2
-10
has a root or solution in
[a,b] = [1,2]?
1)   Let’s check if f(1) and f(2) have opposite signs according to the Intermediate Value
Theorem.
f(a) = f(1)
= (1)
3
+ 4(1)
2
– 10 = -5
(negative)
f(b) = f(2)
= (2)
3
+ 4(2)
2
– 10 = 8+16-10 = 14
(positive)
The answer is yes, which means since f is continuous there must be a solution in the
interval [1,2].
2)   Let p be the solution we are searching for and let p1 be the first midpoint of [a,b] = [1,2].
p1
= (a+b)/2 = (1+2)/2 = 3/2 = 1.5
f(p1)
=
f(1.5)
= (1.5)
3
+4(1.5)
2
-10 = 2.375
(positive)
3)   If
f(p1)
= 0
then p1 is the root or the solution, so p= p1. Done.
Otherwise, if
f(p1)
is not equal to zero, which is the case, we’re going to replace either a or b by
p1 to obtain a new interval closer to the root or the solution.  
How do we know which one to replace?  Simple.  The goal is to keep two intervals of which
their functions have opposite signs when we calculate the function
f
at these two intervals.  The
question to ask is rather which of the two
f(a)
and
f(b)
has opposite sign to the function
f(p1)
?
a)   If
f(p1)
and
f(a)
have the same sign, then they don’t satisfy the Intermediate Value
Theorem.  We replace
a
by
p1
, so the new interval that contains the solution p will be
[p1, b].
b)   If
f(p1)
and
f(a)
have opposite signs, then they satisfy the Intermediate Value Theorem.  
We replace
b
by
p1
so the new interval that contains the solution p will be [a, p1].

In our case,
f(a) which is f(1)
has opposite sign to
f(p1) which is f(1.5)
. We replace (
b
which is 2 by
p1
which is 1.5).  The new interval that contains a solution is [a, p1] = [1,
1.5].
Next we go back to step 2 and step 3 by repeating this process again to find the new
midpoint p2, check if p2 is the solution, if not obtain a new interval.
Let’s continue with steps 2 and 3.
Step 2:
a.   let p2 be the second midpoint of [a, p1] = [1, 1.5].
p2
= (a+p1)/2 = (1+1.5)/2 = 2.5/2 = 1.25
f(p2)
= f(1.25) = (1.25)
3
+4(1.25)
2
-10 = -1.796875
(negative)
Step 3:
Which of the two
f(a)
and
f(p1)
has opposite sign to the function
f(p2)
OR
Which of the two
f(1)
and
f(1.5)
has opposite sign to the function
f(1.25)
?
f(a)
=
f(1)
= -5;    
f(p1) = f(1.5) = 2.375;  
f(p2) = f(1.25) = -1.796875
The answer is
f(p1) = f(1.5)
and
f(p2) = f(1.25), so we replace a by p2.
Therefore, the new interval that contains a solution is: [p2, p1] = [1.25, 1.5].
We repeat steps 2 and 3 again and again until
f(midpoint) = 0
or within a Tolerance, let’s
say 0.001 = 10
-4
.
To do this we can use the MATLAB tool.  The following program 1.1 can be used to find
the root of the same function using bisection method with a tolerance of 0.001 = 10
-4
%Program 1.1 Bisection Method
%Computes approximate solution of f(x)=0
%Input: inline function f; a,b such that f(a)*f(b)<0,
%     and tolerance tol
%Output: Approximate solution xc
function xc = bisect(f,a,b,tol)
if sign(f(a))*sign(f(b)) >= 0,

  error(‘f(a)f(b)<0 not satisfied!’)
%ceases execution
end
fa=f(a);
fb=f(b);
k = 0;
while (b-a)/2>tol
 c=(a+b)/2;
 fc=f(c);
 if fc == 0              
%c is a solution, done
   break
 end
 if sign(fc)*sign(fa)<0  %
a and c make the new interval
   b=c;fb=fc;
 else                    %
c and b make the new interval
   a=c;fa=fc;
 end
end
xc=(a+b)/2;               
%new midpoint is best estimate
1.  Copy and paste this program in MATLAB in the editor window.  
2.  Save the program as bisect.
3.  To run the program, type the following in the command window:
>> bisect(@(x) x^3+4*x^2-10,1,2,0.0001)
@(x) x^3+4*x^2-10
represents the function
1,2
represents the interval
0.01
represents the Tolerance.
The output is:
ans =
   1.3652

The following MATLAB program 1.2 can be used to find the root of the same function
using bisection method with 13 iterations meaning that we will find the midpoint 13 times pn =
p13.
%Program 1.2 Bisection Method
function [x e] = mybisect(f,a,b,n)
% function [x e] = mybisect(f,a,b,n)
% Does n iterations of the bisection method for a function f
% Inputs: f — an inline function
%         a,b — left and right edges of the interval
%         n — the number of bisections to do.
% Outputs: x — the estimated solution of f(x) = 0
%          e — an upper bound on the error
format long
c = f(a); d = f(b);
if c*d > 0.0
   error(‘Function has same sign at both endpoints.’)
end
disp(‘           x                  y’)
for i = 1:n
   x = (a + b)/2;
   y = f(x);
   disp([    x     y])
   if y == 0.0     
% solved the equation exactly
       e = 0;
       break     
% jumps out of the for loop
   end
   if c*y < 0
       b=x;
   else
       a=x;
   end
end
e = (b-a)/2;
1.  Copy and paste this program in MATLAB in the editor window.  
2.  Save the program as bisection.
3.  To run the program, type the following in the command window:
>> bisection(@(x) x^3+4*x^2-10,1,2,13)

@(x) x^3+4*x^2-10
represents the function
1,2
represents the interval
13
represents the number of iterations.
The output is:
x     
            y
  1.500000000000000   2.375000000000000
  1.250000000000000  -1.796875000000000
  1.375000000000000   0.162109375000000
  1.312500000000000  -0.848388671875000
  1.343750000000000  -0.350982666015625
  1.359375000000000  -0.096408843994141
  1.367187500000000   0.032355785369873
  1.363281250000000  -0.032149970531464
  1.365234375000000   0.000072024762630
  1.364257812500000  -0.016046690754592

   1.364746093750000  -0.007989262812771
  1.364990234375000  -0.003959101522923
  1.365112304687500  -0.001943659010067
ans =
  1.365112304687500

Due Sept.29 by noon CST

  

RESPOND TO THE BELOW (minimum 100 WORDS) – 

Use this reference also: Appelrouth, S., & Edles, L. D. (2010). Sociological Theory in the Contemporary Era: Text and Readings (2 ed.). Thousand Oaks, California: Sage Publications.

in response to the below do at least ONE of these:  offering advice or strategy; posing a question and providing an alternative point-of-view, 

Forum to reply to: 

Anna;

Ethnomethodology was developed by Harold Garfinkel, and it literally means the study of the methods people use to accomplish their everyday lives (Appelrouth, p. 297).  Ethnomethodologists are concerned with the methods people use to tackle their everyday lives instead of the why, in other words, how people accomplish getting through the day, what they do, what may work for one, may not work for another.  Ethnomethodology is a sociological study.  

Some of the main concerns are they reject fundamental sociological superiority, that the actors’ view of their social world is somehow flawed.  They disapprove of predictable approaches for simply taking for granted the same skills, practices and ideas as the “unenlightened” members of those they are studying.  They pursue to suspend belief in a rule-governed order to study different parts of social life and how it brings order to itself (Appelrouth & Edles, 2011).  They also try to understand how people view and act to different situations in life.

The breaching experiment was doing experiments in everyday life, but tossing in a road block to see how others will react.  Garfinkel modified the object structure of a familiar scenario by switching up one factor.  In his one experiment, he had students go home and act as borders instead of children to the parents.  They treated the parent as an acquaintance instead a close family member.  The parents were caught off guard and tried to turn the situation around.  This is a sociological study of the reaction to the parent when a factor in their life is changed.

Reference:

Appelrouth, S., & Edles, L. D. (2011). Sociological Theory in the Contemporary Era: Text and Readings. (2nd Ed). Thousands Oaks, California: Sage Publications.

10 Mcqs Lab

Question 1 of 10
10.0 Points
What is the largest environmental impact of renewable energy?

 
 
 
Question 2 of 10
10.0 Points
What are the two most important drawbacks of renewable energy?

 
 
 
Question 3 of 10
10.0 Points
The focus of this week’s lab activity was on looking at

 
 
 

 

 

Question 4 of 10
10.0 Points
How do we estimate our future usage of electricity?

 
 
 

Question 5    What is the purpose of the online calculator?

 
 
 

 

Question 6 of 10
10.0 Points
What is the first information that the online calculator needs in order to estimate energy consumption?

 
 
 

 

Question 7 of 10
10.0 Points
What can you use the Home Energy Saver calculator for?

 
 
 

 

 

 

 

Question 8 of 10
10.0 Points
What is the annual average solar resource of North Carolina?

 
 
 
Question 9 of 10
10.0 Points
On average, what is the approximate efficiency of most standard solar panels?

 
 
 
Question 10 of 10
10.0 Points
On average, what is the approximate cost of a standard solar panel?

 
 
 
 

 

 

 

 

LEG 500 Assignment 4 Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Assignment 4: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Due Week 9 and worth 300 points

You are a new associate at the law firm of Dewey, Chetum, and Howe. John, a former researcher at PharmaCARE, comes to your office. He has concerns about PharmaCARE’s use of AD23, one of the company’s top-selling diabetes drugs. Two (2) years ago, after PharmaCARE’s research indicated that AD23 might also slow the progression of Alzheimer’s disease, John and his team of pharmacists began reformulating the drug to maximize that effect. In order to avoid the Food and Drug Administration’s (FDA) scrutiny, PharmaCARE established a wholly-owned subsidiary, CompCARE, to operate as a compounding pharmacy to sell the new formulation to individuals on a prescription basis. CompCARE established itself in a suburban office park near its parent’s headquarters. To conserve money and time, CompCARE did a quick, low-cost renovation.

CompCARE benefited from PharmaCARE’s reputation, databases, networks, and sales and marketing expertise, and within six (6) months had the medical community buzzing about AD23. Demand soared, particularly among Medicare, Medicaid, and Veterans Affairs patients. Seeing the opportunity to realize even more profit, CompCARE began advertising AD23 directly to consumers and marketing the drug directly to hospitals, clinics, and physician offices, even though compounding pharmacies are not permitted to sell drugs in bulk for general use. To circumvent this technicality, CompCARE encouraged doctors to fax lists of fictitious patient names to CompCARE. PharmaCARE sold CompCARE to WellCo, a large drugstore chain, just weeks before AD23 was publicly linked to over 200 cardiac deaths.

As CompCARE and its new parent company enjoyed record profits and PharmaCARE’s stock price approached $300 per share, reports started surfacing that people who received AD23 seemed to be suffering heart attacks at an alarming rate. The company ignored this data and continued filling large orders and paying huge bonuses to all the executives and managers, including John, whose wife recently died from a heart attack after using AD23.

John has come to you with an internal company memo describing the potential problems with AD23, and information describing the company’s willingness “roll the dice” and continue to market the drug.

Your senior partner has asked you to write a memo outlining the following issues for review by the senior partners.

In preparation for this assignment, use the Internet or Strayer Library to research examples of intellectual property theft that occurred within the past two (2) years.

Write an eight to ten (8-10) page paper in which you:

  1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety and examine whether PharmaCARE violated any of the issues in question.
  2. Argue for or against Direct-to-Consumer (DTC) marketing by drug companies. Provide support for your response.
  3. Determine the parties responsible for regulating compounding pharmacies under the current regulatory scheme, the actions that either these parties or the FDA could / should have taken in this scenario, and whether PharmaCARE could face legal exposure surrounding its practices. Support your response.
  4. Analyze the manner in which PharmaCARE used U.S. law to protect its own intellectual property and if John has any claim to being the true “inventor” of AD23. Suggest at least three (3) ways the company could compensate John for the use of his intellectual property.
  5. Summarize at least one (1) current example (within the past two [2] years) of intellectual property theft, and examine the effect on that company’s brand.
  6. Analyze the potential issue surrounding the death of John’s wife and other potential litigants against PharmaCARE as a result of AD23.
  7. Specify both the major arguments that John can make to claim that he is a whistleblower and the type of protections that he should be afforded. Justify your response.
  8. Use at least three (3) quality resources in this assignment. Note: Wikipedia is not an acceptable reference and proprietary Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze and assess legal and ethical restraints on marketing and advertising, relative to both consumers and organizations.
  • Analyze and evaluate laws and regulations relative to product safety and liability.
  • Explore copyright laws and intellectual property rights and assess how well they balance competing interests.
  • Use technology and information resources to research issues in law, ethics, and corporate governance.
  • Write clearly and concisely about law, ethics, and corporate governance using proper writing mechanics.

Multiple choice

1. Eagle Manufacturing, Inc., contracted with Digital Repair Services to maintain Eagle’s computers. A “Liquidated Damages Clause” provides that Digital will pay Eagle $500 for each day that Digital is late in responding to a service request. If Digital is three days late in responding, and Eagle sues to enforce this clause, Eagle will

A) lose, because liquidated damages clauses violate public policy.

B) lose, unless the liquidated damages clause is determined to be a penalty.

C) win, because liquidated damages clauses are always enforceable.

D) win, unless the liquidated damages clause is determined to be a penalty.

 

2. Fast Ed, a stock trader, engages in a “pump and dump” scheme whereby he goes into Internet chat stock rooms and “hypes,” praises, and extols certain stocks he owns. He says such things as: “This is the best stock ever.” “This stock is great and will make us a fortune.” “You MUST own this stock in your portfolio.” He does repeatedly and uses several aliases. Then, when Fast Ed has “pumped up” the price of the stock to a certain level, he calls his broker to sell, that is, to “dump,” the stock. He makes a lot of money with this scheme. Fast Ed is likely acting:

A) Illegally pursuant to the common law tort of deceit since he did not disclose the aliases.

B) Illegally pursuant to the Securities Act of 1934 for engaging in stock manipulation.

C) Legally since he was careful not to make any misrepresentations of material fact regarding the stock, and just used “puffing” or sales talk.

D) Legally since everyone knows not to put any credence behind what people say in chat rooms, especially about stocks, and thus “Let the buyer beware.”

 

3. Stan buys a CD player from Tom, his neighbor, who agrees to keep the player until Stan picks it up. Before Stan can get it, the player is stolen. The loss is suffered by

A) Stan only.

B) Tom only.

C) Stan and Tom.

D) none of the above.

 

4. General Construction contracts to build a store for Home Stores for $1 million. In mid-project, Home repudiates the contract, and General stops working. General incurred costs of $600,000 and would have made a profit of $100,000. General’s measure of damages likely is

A) $1 million.

B) $700,000.

C) $100,000.

D) nothing.