Week 5

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Week 5 - Overview & Learning Objectives
Week 5 - Overview & Learning Objectives
Attached Files:
o  Chapter 12-Contracts and Sales Performance, Remedies, and Collection.pptx  Chapter 12-Contracts and Sales Performance,
Remedies, and Collection.pptx - Alternative Formats (260.03 KB)
o  Chapter 13-Business Marketing and Products Ads and Product Safety.pptx  Chapter 13-Business Marketing and Products
Ads and Product Safety.pptx - Alternative Formats (234.913 KB)
o  Chapter 14-. Business Competition Antitrust Law..pptx  Chapter 14-. Business Competition Antitrust Law..pptx -
Alternative Formats (521.466 KB)
o  Chapter 15-Business and Intellectual Property Law.pptx Chapter 15-Business and Intellectual Property Law.pptx -
Alternative Formats (197.068 KB)
Assigned Readings:
Chapter 12. Contracts and Sales: Performance, Remedies, and Collection.
Chapter 13. Business Marketing and Products: Ads and Product Safety.
Chapter 14. Business Competition: Antitrust Law.
Chapter 15. Business and Intellectual Property Law.
Overview:
This week, we begin the readings with the second chapter directly concerning contracts before transitioning
to the much different subjects of product safety, antitrust law, and intellectual property law.  While it is very
important to understand formation issues examined in the previous contracts chapter, many times the
performance of the contract and what remedies are available if one party fails to perform have significant and
practical implications.  An important portion of this study examines what happens if assumptions are made
during the formation of a contract that turn out to be untrue and the effect this may have on performance
requirements.  For validly formed contracts for which a non-performance excuse does not exist, what may a
damaged party do to become whole again?  These damages can go beyond the original contract and are
sometimes even negotiated beforehand, such as in liquidated damages clauses. 
The reading then moves on to explore how businesses market its products and services, the duties owed to
consumers to ensure safety, and how various governments protect consumers by the implementation of
antitrust laws.  Again, these chapters build on previous subjects, such as tort liability for defective products
and how administrative agencies and other bodies create and enact laws and rules.  Our study of antitrust
laws then examines the specific acts on which this body of regulation is based, as well as penalties that can
be imposed for restraints of trade.  This chapter also compares horizontal and vertical trade restraints and
defenses an accused business may bring for each.  Finally, the readings turn toward intellectual property
law.  Intellectual property can be some of the most valuable property owned by a business, and the reading
looks at the types of intellectual property a business may own, and the legal protections afforded to it. 
International issues again are discussed in this chapter with an examination of the various applicable treaties
and organizations dedicated to the protection of intellectual property.   The chapter concludes with a review of
the remedies available in the case of infringement, such as money damages or injunctions.  
Learning Objectives:
Chapter 12: Contracts and Sales: Performance, Remedies, and Collection
Learning Objectives:
5. Understand the basic defenses to contract formation.
6. Distinguish between misrepresentation and fraud.
7. Identify when the parties of a contact must perform their contractual duties and when this performance might
be excused.
8. Understsand the Fair Debt Collections Practices Act (FDCPA) and how it protects the consumer.
9. Elaborate the different types of damages that are available to non-breaching party.
Chapter 13: Business Marketing and Products: Ads and Product Safety
Learning Objectives:
10. Broadly understand how the Federal Trade Commission (FTC) controls advertising.
11. Identify the difference between a statement of fact and statement of opinion in an advertisement.
12. Identify situations where the implied warranty of mechantability applies.
13. Give examples of strict liability in product liability cases.
14. Understand the different defenses to product liability and how they affect a products liability lawsuit.
Chapter 14: Business Competition: Antitrust Law
Learning Objectives:     
15. Identify the basic guidelines for constructing a valid non-compete agreement.
16. Compare and contrast horizontal and vertical restraints on trade.
17. Identify the various types of anti-trust laws and what each law aims to prevent.
18. Explain how the right to free speech can affect the Sherman Act’s regulation of anti-competitve behavior.
19. Understand why the Robinson-Patman Act prohibits price discrimination.
Chapter 15: Business and Intellectual Property Law
Learning Objectives:
20. Understand what a patent protects, how a patent protects, and how long patent protection lasts.
21. Understand what a copright protects, how a copyright protects, and how long copyright protection lasts.
22. Understand what a trademark protects, how a trademark protects, and how long trademark protection lasts.
23. Identify what qualifies as a trade secret and how businesses may protect their trade secrets.
24. Identify the various remedies for violations of intellectual property rights.

Reflection and Discussion Forum Week 5

Reflection and Discussion Forum Week 5

Assigned Readings:
Chapter 12. Contracts and Sales: Performance, Remedies, and Collection.
Chapter 13. Business Marketing and Products: Ads and Product Safety.
Chapter 14. Business Competition: Antitrust Law.
Chapter 15. Business and Intellectual Property Law.
Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was
the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your
understanding in each assigned textbook chapter.Your initial post should be based upon the assigned
reading for the week, so the textbook should be a source listed in your reference section and cited within the
body of the text. Other sources are not required but feel free to use them if they aid in your discussion.
Also, provide a graduate-level response to each of the following questions:

1. Sly Salesperson sells cars.  While selling a car, Sly Salesperson tells the potential buyer that “this is the best
car around.  It’s a great car and sips gas.”  The car has an average fuel rating.  Has Sly Salesperson
committed a misrepresentation?  Fraud?  Why or why not?  Does the analysis change if Sly Salesperson
says the car get 40 miles per gallon, but in fact the car only gets 30 miles per gallon?
2. What factors have courts considered when evaluating factual statements versus opinion-based statements? 
Could there still be liability for purely opinion-based statements? 
3. Explain what the Robinson-Patman Act prohibits, what is required to show a violation, and what the defenses
are.
4. Explain the differences in patents, copyrights, and trademarks, including the length of each and examples of
each.

[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in
the student's own words - do not provide quotes!]
  [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font
size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word
version of the paper for APA review]
Submitting the Initial Posting:Your initial posting should be completed by Thursday, 11:59 p.m. EST. 
Response to Other Student Postings:  Respond substantively to the post of at least two peers,
by Friday, 11:59 p.m. EST. A peer response such as “I agree with her,” or “I liked what he said about that” or
similar comments are not considered substantive and will not be counted for course credit.
[Continue the discussion through Sunday,11:59 p.m. EST by highlighting differences between your postings
and your colleagues' postings. Provide additional insights or alternative perspectives]
Evaluation of posts and responses: Your initial posts and peer responses will be evaluated on the basis of
the kind of critical thinking and engagement displayed. The grading rubric evaluates the content based on
seven areas:
Content Knowledge & Structure, Critical Thinking, Clarity & Effective Communication, Integration of
Knowledge & Articles, Presentation, Writing Mechanics, and Response to Other Students.

Week 5 - Short Essays

Question I - Claire is severely injured in a car accident.  The local hospital cannot treat Claire’s injuries.  In
order to survive, Claire must be flown via Helicopter to a hospital in a bordering state.  Prior to boarding the
helicopter, Claire signs a contract obligating her to pay for the helicopter flight and all of its expenses.  Claire
lives and fully recovers.  However, she is being sued by the helicopter company in the amount of $50,000 for
the helicopter transportation and its accompanying expenses.  What is argument Claire could make in order
to rescind the agreement?  Does it matter that the helicopter company performed its obligation under the
contract?
Question II - Bono is a musician.  He sells his neighbor a gently used lawn mower at a deeply discounted
price.  The neighbor is dissatisfied with the performance of the lawn mower.  Can the neighbor sue Bono
under the UCC §2-314, the implied warranty of merchantability?  Why or why not?
Question III - If cigarette companies want to work with one another for a common interest, what is one
example that would allow the cigarette companies to do so without violating the Sherman Act?  What source
of law protects the cigarette companies’ actions?
Question IV - The year is 2012 and the light bulb has not yet been invented.  Thomas Edison and Nikola
Tesla are in a bitter feud to see who can bring electricity to the masses first.  In this alternative history, it is
indisputable that Tesla invented the lightbulb first.  However, Edison filed his lightbulb patent prior to
Tesla.  According to the law in 2012, who holds the patent to the lightbulb?
Requirements:

 There is no minimum or maximum required number of pages. Your analysis will be considered complete, if it
addresses each of the 4 components outlined above.
 Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must
be properly cited. A minimum of 7 sources (excluding the course textbook) from scholarly articles or business
periodicals is required.
 Include your best critical thinking and analysis to arrive at your justification.

Submission: Upload/attach your completed paper to this assignment by the due date. 

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Week 5 Video

Week 5 Video