Legal Issues in Two Business Cases
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This paper discusses two business related legal cases; the first case examines whether one party to negotiations can change his mind about an agreement after he learns he was wrong about a key fact, the limits of an insurance policy. The apper also addresses a case that deals with delivery of damaged goods. The paper explains the issue here, that is when the resposibility for damage of the manufacturer ends and that of the owner begins.
From the Paper:""Lanci v. Metropolitan Insurance Company": This case deals with a motorist, Lanci, involved in an accident with an uninsured motorist. Negotiations between Lanci and his insurance company were conducted in writing. Lanci finally settled for a payment of $15,000. Lanci's correspondence indicates that he thought this was the limit of coverage of his policy. However, he did not have a copy of his policy at the time the negotiations were underway. Lanci eventually learned that the actual policy payment limit was $250,000. He refused to accept the..."
Cite this Analytical Essay:
Legal Issues in Two Business Cases (2007, December 01) Retrieved August 06, 2020, from https://www.academon.com/analytical-essay/legal-issues-in-two-business-cases-135908/
"Legal Issues in Two Business Cases" 01 December 2007. Web. 06 August. 2020. <https://www.academon.com/analytical-essay/legal-issues-in-two-business-cases-135908/>