Uncle Pennybags plans to build a hotel on Marvin Gardens, but to do so, he needs to acquire adjacent properties on Atlantic Avenue, owned by Charles Darrow, and Ventnor Avenue, owned by George Parker. Pennybags knows that if Darrow or Parker knew of his plans, they would demand a higher price for their properties and a still higher price would be demanded by the last lot owner to sell. So Pennybags forms a dummy company called Acme Acquisitions, LLC and appoints his good friend, Lizzie Magie, as its president. Magie approaches Darrow and Parker, who both agree to sell their properties to Acme Acquisitions on favorable terms. After the contracts have been signed, Pennybags announces that he is the true purchaser and that he plans to build his hotel. Furious, Darrow and Parker refuse to consummate the transaction, so Pennybags sues. Are Darrow and Parker out of luck?
Continue Reading Using a Dummy Company Can Be a Smart Business Decision
Employee Embezzlement: 4 Tell-Tale Signs
Having started as a bookkeeper and worked his way (fifteen years later) to become controller of the Bunz in the Oven family owned business, Swendoll Hugh felt underpaid and
under-appreciated by Bertha Bunz and her highly successful business. When Swendoll’s grandmother passed away, he “borrowed” funds from Bunz in the Oven to cover funeral expenses.
Lost or Stolen: Liability for Unauthorized Credit Card Charges
On a brisk January day, Mary A. Richman opened her mailbox and was confronted with the sobering sight of thick envelopes from Visa, American Express and MasterCard each containing a month’s worth of extravagant Christmas purchases. Although she expected the bills to be large, she didn’t expect them to be this large. When she carefully reviewed the charges, the weather wasn’t the only thing giving Richman the chills. She quickly noticed entries for businesses with which she was unfamiliar, including a $1,200 Visa charge on December 25th for a bar in Chihuahua, Mexico called Tequila Mockingbird. Richman lost her Visa card on December 21st, but never reported it. Is Richman liable for the unauthorized charges?
Continue Reading Lost or Stolen: Liability for Unauthorized Credit Card Charges
Can You Get Away With Faking Your Own Death?
Aaron Elvis is a world-renowned chemist. His latest paper explaining the chemical origins of life has received unprecedented acclaim in the scientific community. However, there is a small problem. Elvis manipulated some of his test results upon which the paper was based, and now one of his graduate students is about to expose Elvis as