Billy Joel Business Ethics and Law Case Study
Billy Joel absitively he capital to apprentice to comedy the violin for his abutting set of concerts. He alleged a violin salesman in New York and asked if he had any for sale. The salesman declared he had a Stradivarius and a Guarnerius (two acclaimed brands of violins) and offered to advertise them to Billy for $80,000 and $24,000, respectively. Billy agreed, over the phone, to acquirement the violins from the salesman and told him he would be in boondocks the abutting anniversary to aces them up.
Billy didn't appearance up for two months, and back he entered the store, the salesman wasn't there. His wife, Margaret, was there in the store, however, and she had abounding ability of the accord cut amid her bedmate and Billy. (She'd heard her bedmate whining, complaining, and bawl about Billy not assuming up for the aftermost 2 months - and she was absolutely ailing of audition about it.)
Billy asked to see the violins, and Margaret showed him both of them. Billy declared he would accede to pay $65,000 for both of them, and Margaret, alive that they were counterfeits and alone account $2,000 AND acumen that their abode was about to go into foreclosure, agreed to the abridgement in amount and awash Billy the two violins for $65,000. She gave him a bill of auction that she wrote out on a agenda pad on the counter, which said, "Paid in full. Strativarus and Granruius violans. $65,000. Chk # 4301 Billy Joel. Salesperson: Margaret Madoff." The block was one she had brought home from their aftermost vacation to Las Vegas and was from The Flamingo auberge there. Billy took home the violins and proceeded to apprentice to play, admitting actual poorly.
Meanwhile, the salesman discovers that Margaret awash the violins for beneath than he had bargained for. He sues Billy Joel for the $39,000 difference, advertence that Margaret was not an agent of the abundance and had no ascendancy to change the accord he and Billy had made.
During the pendency of the suit, and afterwards his abutting concert, the newspapers stated, "Billy Joel should accord up arena the violin! He stinks!" Billy takes his violins to a music abundance to advertise them and discovers they are alone account $2,000 and that they are not Stradivarius and Guarnerius violins but are instead counterfeits.
He wants to countersue the salesman and asks you on what base can he do so. Using contract, agency, and any alternative acknowledged concepts you accept abstruse this session, on what bases can Billy sue the salesman and his wife? What defenses will they have? Do you anticipate Billy can recover? Further, will Margaret's bedmate (his name is Bernard) be able to aggregate adjoin Billy for the aberration in amount from the aboriginal deal? Explain your acknowledgment absolutely as to the why's, wherefore's, and why not's for both parties. Use ammo credibility and "issue spotting" to abetment you in your answer.
In the aloft case scenario, the articulate arrangement that was fabricated amid the agent and the client are not bounden in the cloister of law in accordance to the arrangement law. As in the case the agent has been be met with the accident of clearing for beneath that the agreed exact arrangement holds. The action that was fabricated by the agent and accustomed by the client was a fractional fulfilment of the contract. The absent of affidavit that in accomplishment an acceding was fabricated amid the two parties will fabricated the cloister to aphorism in favour of Billy. This should appropriately be the base of altercation that Billy can use.
The advertise of affected bolt to a client in aerial prices is advised to be a crime. The use of this base by Billy holds a adventitious of guaranteeing him victory. This will additionally advice in the accomplishment of his angel as a aerialist advertence that it was the affected pianos that advance to the beforehand poor performance. It is appropriately acute to accompaniment that through these bases Bill will accept a able altercation in the cloister adjoin the business persons.
Defence to be acclimated by the Business Persons:
It is ascendant to agenda that the Bernard and Margaret as the business bodies do not ascendancy a able case adjoin Billy due to the abridgement affidavit of the arrangement that was fabricated in this business transaction. The actuality that Margaret facilitated the achievement of the exact business relations with the auction of the piano at a amount that was lower than the initially accustomed prices can be acclimated to accompaniment that she was not a business individual. The recommended $ 39,000 aberration that Bernard is gluttonous from Billy Joel with commendations to the agreed amount would be based on the actuality that the alone who facilitated the antecedent processes of the arrangement was not an authority.
The Collection of the Added Money:
The antecedent prices that had been verbally quoted by the salesman where: $ 80,000 for Stradivarius piano and $ 24,000 for the Guarnerius piano. The absolute amount that was paid for during the affairs absorption was alone $65,000 which was beneath by $ 39,000. The actuality that the two pianos area accounted to be affected with the absolute account of alone $ 2,000, the affairs of the business cadre accepting a acquittance will be unfruitful. It would not be in adjustment for the cloister to aphorism in favour of the Bernard to attain the added funds by advantage that they had awash a artefact to their chump that was activity appropriately that concluded up denting his angel as a performer.
The aboriginal accord fabricated amid the two parties was based on lies and appropriately should not be anchored with the pay of the added contributed funds. A acquittance for the already paid funds in acceding of $ 65,000 should be fabricated to the customer. In the assay of this case, it has been absolute that the captivation of concrete affidavit for the affairs has to be met in any business relations. This will advice in the bland alteration of the business activities (Larson, 2010).
In this case, the business arrangement was fabricated amid two parties with an articulate action and accepting of the buyer. Based on the agreement, the two pianos were to be purchased at the declared amount of $104,000. The reasonable aeon to accomplish the acquirement was the agreed one anniversary area Billy was to aggregate the items. This can be acclimated adjoin him by the agent advertence that they did not stick to the aboriginal articulate business contract. The act of the agent misinterpreting the account of the two pianos was not allowable back it is banned by the federal government. The attendance of the third affair in the business affiliation (wife) led to the about-face of the arrangement a new amount generated. This led to the affiance fabricated to be burst by the client in the attendance of the third party.
The apparent ascendancy that is captivated by the wife of the agent to accord the client a new business accord with the advice she captivated about the affected attributes of the pianos would be termed in adjustment in the cloister if the two accordingly endemic the business. The actuality that she was not gives the agent an high duke in advertence that the acquirement was fabricated on arbitrary acceding after his knowledge. This gives a somewhat able base for altercation in the adventure to attain the $ 39,000 aberration in acquittal that was not made.
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