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BASICS OF LAW

Online course

WEEKLY ASSIGNMENTS

HAAGA-HELIA BASICS OF LAW WEEKLY ASSIGNMENTS

Online Course

INSTRUCTIONS

Giving answers

The purpose of the weekly assignments is to make you understand the theory you have learned. Therefore study thoroughly the learning material of the particular week before starting on your assignment. Answering questions based solely on your assumptions is a waste of time because you don’t learn anything new. That is why you should make use of the course materials, acts and decrees when completing assignments. A databank of Finnish acts and decrees are available on the Finlex website at www.finlex.fi.

After reading each assigned case, think about the problem and think about which provisions are applicable. The cases are short for practical reasons and don’t tell very much about the situation in question. Try to solve the cases by taking into account only the facts provided. If this is not possible and you need more facts, make assumptions but remember note them in your solution.

To get a passing grade, your answers must be based on legal facts. Answers based on your feelings or opinions are not sufficient. Your answers must be based on legal sources. Remember also to provide the reasons for your answers. Pure declaratory statements (”the buyer was wrong”, “the offer was revocable”) are not sufficient unless you explain the reasons.

You need not indicate the sources you used in the weekly assignments but you may do so if you wish.

Solutions and feedback

Correct solutions for the weekly assignments are posted after the due date in the same block where you submitted your answers. Study the solutions carefully and compare them to your answers, that is the best way of learning. The nature of online courses is such that it is the student who is responsible for his/her own learning.

Because correct solutions are provided, answers submitted after the deadline will not earn points or be reviewed.

The teacher gives general feedback after having read the students’ answers.

Assessment

The weekly assignments are evaluated as pass or fail. Each passing assignment earns 0.5 points in the exam, i.e. of the 20 maximum points awarded in the exam, the student may have gained 3.5 by completing the weekly assignments. However, more important than the points gained is the learning effect of the weekly assignments.

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1 st Weekly Assignment

FINNISH LEGAL ORDER, LEGAL PERSONALITY

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 9-45o Guardianship Services Act, 442/1999o PowerPoint slides

ORIENTATION TO LAW STUDIES

Study the website www.finlex.fi. Learn how to find the acts you need, and study how sections and subsections are organised.

ASSIGNMENT

Consider the following questions and give your reasoned answers:

1. Is it possible that a one-month-old baby, Liisa, owns a piece of land?

2. Today Liisa is 15 years old and she still owns the plot. She would like to sell it and use the money to rent an apartment for herself because she wants to move away from home. Can she do it?

3. Can a thirteen-year-old boy buy jeans?

4. A sixteen-year-old girl, Marja, has earned € 2,300 in her summer job. She would like to use the money to buy a motorcycle? Can she do this without her parents’ approval?

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2 nd Weekly Assignment

CONTRACT

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 46-62o Contracts Act, 228/1929o PowerPoint slides

ASSIGNMENT

Consider the following questions and give your reasoned answers:

1. An airline company Hiphop Oy sent on Monday morning a letter to Jihuu Oy, offering 10 tickets to Peking at a reduced price. However, on Monday evening after learning about a quick rise in oil prices, Hiphop wanted to cancel the offer. Can they cancel it?

2. Jihuu sent Hiphop a letter on Tuesday afternoon telling that they would accept the offer. Minutes later they heard about a contagious disease spreading all over China and they were wondering if the contract was already binding. Was it?

3. Mr. Virtanen and Mr. Mäkinen spent a wild night drinking and recollecting the happy days of their youth. Virtanen told that he had always envied Mäkinen for his good luck with horse deals. Even now Mäkinen’s new horse had done so well in the shows that it definitely was worth at least € 10,000. Mäkinen was very pleased and towards the end of the evening became even more cheerful and drunk while Virtanen was drinking more moderately. At one point Mäkinen promised to sell his horse to Virtanen for € 5,000 because they were such good friends, and because he was so wealthy and lucky anyway. Virtanen quickly completed a written agreement, and so they signed it.

The following day Mäkinen denied having contracted on anything with Virtanen. He absolutely refused to give up his horse for € 5,000. Help the gentlemen!

4. A dealer sells a bicycle built three years ago as a new model. The bike has been stored in a shipping terminal and in a dealership warehouse. What is your expert opinion on the contract?

5. Sammy and Bill bumped into each other one fine night in the harbour. Sammy asked Bill to lend him € 1,000. Sammy also said that he would pay the loan back in a month. Bill went along, and together they agreed that the interest on the loan would be € 500. Comment on the agreement?

6. A village shopkeeper has for years ordered ten kilograms of pork each weekday morning from his supplier. One Monday morning, when the Nordic winter was at its darkest, he ordered ten tonnes of pork by mistake. What if the shopkeeper received the ten tonnes of meat along with the invoice?

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Online Course7. A car dealer offered to sell a used car and its trailer for € 20,000. He failed, however, to give the

correct price. The car alone cost € 20,000. Including the trailer, the correct price was € 22,500. The customer received a written offer for € 20,000 a few days ago and the corrected version for € 22,500 in writing yesterday. Specify the legal problems in this case.

8. A buyer uses a messenger to make a verbal purchase offer. The messenger, however, tells the seller the incorrect price. The buyer had told the messenger that he was willing to pay € 7,900 for the merchandise and not € 9,700 as the messenger mistakenly said. The buyer refuses to pay the€ 9,700 and tells the salesperson that he would gladly pay € 7,900. The salesperson insists that he is to pay € 9,700. Solve the problem!

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3 rd Weekly Assignment

BUSINESS TRADE

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 63-72o Sale of Goods Act, 355/1987o PowerPoint slides

ASSIGNMENT

Consider the following cases and give your reasoned answers to the questions:

1. Case: Assembly Line.Teknoprosess Oyj delivered, on basis of a contract, a packaging machine to Makkaratehdas Oy. The machine was installed as part of the assembly line two weeks after delivery, and Makkaratehdas was able to test the machine. Makkaratehdas notified of a defect and claimed that that the capacity of the machine was significantly less than expected. Teknoprosess refused to compromise. Your comments?

2. Ladies’ fashion manufacturer Fashion Ky ordered fabrics for the following season from Pohjan Kangas Oy. The manufacturer had these fabrics on show on their stand at a fashion fair, and the parties concluded a contract setting 15 March as the date of delivery. However, on the agreed date there was no delivery. The seller informed that they had got a bigger order from France and in that deliver they had had to include also the fabrics ordered by Fashion Ky. Fashion Ky answered that they desperately needed the fabrics and 30 March would be their absolute deadline because any further delay would force them to shut down their manufacturing process. Pohjan Kangas did not respond to this but delivered the fabrics to Fashion Ky on 15 April. Fashion Ky no longer accepted the fabrics saying that they had purchased fabrics for the season from another manufacturer. Analyze the case?

3. A hardware store in Eastern Finland ordered lamps from Lampukas Ky, a manufacturer located on the Western coast of Finland. The parties agreed that the hardware store would pay for transportation in such a way that the seller would include the transportation costs in the invoice for the lamps. None of the parties came to think of insurance.

While in transit, problems occurred. There was an accident on a slippery road, the carrier’s car crashed with another car and practically all of the lamps were broken.

The hardware store now refuses to pay since they didn’t receive the lamps and since the contract between the parties stipulated nothing about this kind of situation. Is the hardware store right?

4. A retailer bought 100 kg of blueberries from the dealer and checked the quality of the berries in the dealer’s warehouse. Since both parties were located in the same city they agreed that the seller would deliver the berries to the buyer’s store.

When the berries arrived the next day, the buyer was no longer satisfied with the quality. He immediately complained to the dealer. Does he have any rights?

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4 th Weekly Assignment

CONSUMER PROTECTION

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 63-72o Consumer Protection Act, 38/1978o PowerPoint slides

ASSIGNMENT


1. Which of the following cases are in accordance with the regulation of marketing as stipulated in the Consumer Protection Act?

a) A sports store advertised a Finnish bike for sale at €70. The components and frame of the bike had been made in Taiwan and assembly in Estonia. The bike was of a well-known Finnish brand.

b) Face cream was sold by saying ”Rejuvenates everyone by 10 years”.

c) A department store was marketing its Easter happening. The store’s home department had an Easter table setting contest and several celebrities were invited to participate. Customers got to vote for the best setting, and while voting they also could participate in a raffle, the prize of which was a delicious Easter basket.

d) A computer game was advertised on TV. In the advertisement a young boy played the game first thing in the morning, went on playing while other children left for school and continued until the afternoon when the others came from school. The message was that this boy had a much better day than the other children.

e) A car dealer gave every new customer a Christmas ham into the bargain.

f) A computer was on sale as follows: ”Standard retail price € 2,300, our discount price € 1,790 – now lower by € 510!”

g) A manufacturer advertised its sneakers as ”being of significantly better quality and more durable than those of the competitor XYZ Ltd.”

2. Jussi Juonio bought a television set. The TV was on sale at a store and cost € 200. The seller gave a one-year warranty. The TV worked fine for 15 months but then it went black. Jussi called an authorized repairman to have a look at it. The repairman concluded that the picture tube was broken, a new one should be installed and it would be expensive. He said that obviously there was a manufacturing defect in the product because normally a picture tube would last for over ten years. Jussi requires the seller to rectify the defect.

The seller, however, refuses saying that he has no responsibilities sincea) the warranty period has expired, andb) the TV was on sale.Who is correct? What are Jussi’s rights?

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3. Solve the following legal problem between buyer and seller: Bill Batter bought a used video camera for € 400 from Chuck’s Camera World Ltd. Bill, however, felt that the camera was in poor condition. The sound was lousy and the picture fuzzy. Bill went back to the shop and asked if Chuck could replace it with another similarly priced camera. Unfortunately, Chuck was reluctant to replace the camera. He hinted that the problem might be with the user and asked if he could inspect and possibly repair the camera during the next week. Bill refused and wanted his money back if he couldn’t get a new camera.

4. Family Mäkinen had bought a wicker chair for €15 in September. In December their neighbour, a stocky gentleman, came for a visit. When he sat on the chair it immediately broke down entirely. The Mäkinens complained to the seller and declared the contract void. The seller, referring to the cheap price of the chair and the time passed since the purchase, didn’t agree to any remedy. What can the Mäkinens do?

5. Ville ordered custom-made Venetian blinds for his windows. The agreed delivery period was 4 weeks and the delivery was due on 14 May. That day, however, there was no delivery. On the following day the sales clerk called Ville telling him that the delivery was a little delayed but Ville could come and collect the blinds the next day in the afternoon. Ville did this but the blinds still were not ready. Now the sales clerk promised to bring them to Ville on 18 May. However, Ville got so annoyed that he declared the contract void. Analyze the case.

6. Liisa purchased a sewing machine which was on sale for € 720. On her way home she noticed another retailer advertising the same machine for € 680. She returned to the first shop and required that the deal be cancelled.

a) Does the seller have to agree to Liisa’s requirement?b) Can Liisa present further requirements? Give your reasons.

7. Consider the situations below:

a) Matti Virtanen orders a product from a domestic mail catalogue. Having received the package, he returns the unopened package to the seller, who argues that no proper announcement of withdrawal has been sent and the sales contract is valid. Is he correct?

b) An airline advertised cheap tickets to London in a newspaper. Mr. Koivisto ordered tickets for himself and his wife. Now he regrets the purchase since he actually should have put the money aside to be finally able to upgrade his ancient car. Can he return the tickets?

c) An artist came to a university hall to sell his paintings and some students bought his artwork. What can you say about the deals?

d) Minna bought a plastic bowl at a Tupperware party. Later at home her husband was very angry because in his opinion this was a total waste of money since they didn’t need this bowl. Is there anything that can be done?

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COMPETITION LAW AND INTELLECTUAL PROPERTY RIHGTS

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 99-105o Act on Competition Restrictions, 480/1992o Unfair Business Practices Act,1061/1978 o PowerPoint slides

ASSIGNMENT


1. A local wholesaler arranges a competition in which any retailer who buys goods worth at least € 10,000 in the following week takes part in a raffle. The first prize is the opportunity to participate in a top management course for free. The prize also covers a free trip to Sicily where the course is being arranged. Do you believe that such a competition is legal?

2. Pakkausihme Oy was a leading manufacturer of cartons for foodstuffs in Finland. Its market share was 80%. In addition to cartons it also made filling machines that could be used in filling Pakkausihme cartons. These filling machines were not necessary, however, since they could easily be replaced by other corresponding equipment.

A foodstuffs company that had used Pakkausihme packages for a long time bought a new filling machine from another manufacturer. Because of this Pakkausihme refused to deliver cartons to the company any longer. According to their business policy Pakkausihme only delivered cartons to customers who used Pakkausihme filling machines. Analyse the situation with regard to competition law provisions.

3. Pakkausihme faced a serious new competitor. Pakkausihme therefore decided to price its competing products under manufacturing costs for a while. Was this legal?

4. Finnish Wood is a marketing association of Finnish paper companies. Its target is to promote the trade of its members. A meeting of the association approved a marketing campaign to customers and to collect and register information on concluded deals (size of deliveries, customers, prices etc.). The aim of the campaign was to make the members of the association better known in the market. The association also formulated standard contract terms covering delivery terms, notifications, quality standards, exemption clauses, choice of law and choice of forum clauses. Also the price level and mutual pricing principles were discussed. The members agreed to strive to reduce mutual competition and to improve co-operation. These discussions were not recorded. Some time after the meeting a member of the association increased its prices by 20%. In a few months all the member companies had increased their prices to the same level. Evaluate the activities.

5. Consider the following questions and briefly explain why they are true or false.

a) Industrial rights consist of patent, trademark and copyright.

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Online Courseb) A new dance style cannot be patented.

c) Patent rights cannot be renewed.

d) A utility model is valid for a shorter period of time than a patent and can be obtained in less time.

e) A copyright can be renewed.

f) A right in a trademark can be renewed indefinitely.

g) A copyright is granted by the NBPR after the applicant has filed for registration.

h) Finnish law on fair competition includes a general clause that prohibits erroneous and misleading advertisements.

i) Both price and bidding cartels are banned, with the risk of being fined.

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Option 6.a

LABOUR LAW

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 174-189o Employment Contracts Act, 55/2001o Annual Holidays Act, 162/2005o Working Hours Act, 605/1996o PowerPoint slides

ASSIGNMENT


1. Tuomo Toppinen was offered an apprenticeship at Konttorikone Oy. The employment contract was to last three months. At the end of the apprenticeship period, the employer announced that they were satisfied with Tuomo’s performance and wished to offer him work for the next year. The employer repeated the same offer a year later. At this stage Tuomo expressed his desire for a permanent employment contract. The employer argued that it could make only a one-year agreement because of market swings. Analyze the case.

2. Valtteri Vepsäläinen treats his employees in the following ways, give your comments:a) He fired the shop assistant after he had arrived at work an hour late.b) He refused to pay the stock manager her salary for the two days she missed due to illness.c) He raised the shop manager’s pay from the minimum hourly wage FIM 40 to FIM 55. d) He announced that all employee salaries would henceforth be paid into accounts at the local

Osuuspankki branch. e) He told the cashier that the employer is not required to pay the employee’s salary during

maternity leave.

3. Tuomo was given notice on November 31 and his period of notice was three months. He immediately began to look for a new job. On December 15, he learned that he had been offered a position at a local electronics retailer. The catch was that he had to start work there at the start of the new year. Tuomo wondered whether he could leave his current job at the end of December or not.

4. A shop attendant was in the habit of missing work for no reason at all. After particularly long absenteeism, the employer decided to terminate the attendant’s employment contract but wondered how long the period of notice should be in this case.

5. Johannes began work on a project and the employment contract was concluded for the fixed period from June 1, 2002 until December 31, 2004. However, in March 2003 the employer announced that the project had encountered difficulties and might be cancelled before the end of the year.

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Online CourseConsequently, Johannes’ employment contract would be terminated in May 2003. Can the employer do this?

6. Matti was given notice on November 1, 1997. His employment relationship was to end on April 4, 1998. The employer also demanded that Matti spend accrued holidays before April. Matti, however, would have preferred the holidays in the form of pay. Is Matti entitled to this?

7. Simon’s employment relationship was terminated at the end of February. He agreed with his employer that he would spend his accrued holidays in February and thus not arrive at work. If so, can he begin his new job at the beginning of February?

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Option 6.b

TENANCY

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 166-173o Act on Residential Leases, 481/1995o Act on the Lease on Business Premises, 482/1995o PowerPoint slides

ASSIGNMENT


1. Pekka concluded a fixed term lease agreement on an apartment for the period of his studies 1.9.2008-30.8.2010. He completed his studies early in June 2010, however, and got a job in the same town. Because of this, even though the lease agreement had ended 30 August, he continued living in the apartment paying regularly the same rent as before. In April 2011 Pekka came to realize the situation and began wondering

a) if he has any right to live in the apartment at all, or could the landlord accuse him of living there illegally?

b) if he has any security against termination, or could the landlord eject him immediately?

2. Liisa had lived for five years as a tenant in an apartment owned by an insurance company. She received from the insurance company by mail a letter saying that the company would terminate the lease agreement in seven months from the date of the letter.

Liisa started looking for a new apartment but couldn’t find a suitable one. Now there is only a week left before the seven months is up and she is asking you for advice about what she could do to postpone the termination.

3. Unto, a business student, got a summer job in his home region 150 km away, and would therefore like to lease his apartment for the summer to his cousin who is coming to town. However, the landlord objects to the idea because to him it is important that nobody but Unto lives in the apartment. Now the landlord is wondering,

a) if he could forbid Unto from leasing the apartment to the cousin?b) in case Unto was allowed to lease the apartment to the cousin, which one of these two

would be liable to him for the apartment remaining in good condition and the rent being paid?

4. Nils Noponen made a three-year fixed term lease agreement on a two-bedroom apartment. In the agreement the rent was € 300/month. Nils got married one year later, and soon not only the new wife but also her elderly parents moved into the apartment. The lessor is now of the opinion that

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Online Coursebecause there are four people living in the apartment instead of one, it is reasonable that the rent is also higher. He notified Nils that

a) either his parents-in-law must move out of the apartment orb) the rent from now on would be € 320/month until the end of the contract period.

Has the lessor the right to impose such demands?

5. Juhani had made a lease agreement on following conditions:

a) The agreement is valid for a non-fixed term, the tenant’s period of notice being three months, and the lessor’s period of notice being six months.

b) The amount of rent is € 250/month however, the lessor may revise the amount of rent yearly no more than 10%.

c) The tenant must let the lessor into the apartment if necessary to check its condition.

Are the conditions in accordance with the law?

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Option 7.a

FORMS OF ENTERPRISE

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 86-97o Limited Liability Companies, Act 624/2006o PowerPoint slides

ASSIGNMENT


1. Timo’s enterprise

Timo Muhos is an entrepreneur. His firm is experiencing financial problems and his wife worries what will happen to their property if the enterprise goes bankrupt. Timo says there is no reason to worry because their private property will not be at risk. What do you say?

2. Partnership troubles

Toppinen & Co was a Finnish general partnership owned by Jukka Toppinen and an Irish friend of his, John Smith. Jukka and John had invested an equal amount of money in the company, EUR 9,000 each, and agreed that the line of business was “importing and installing computer technology”. They also had agreed that Jukka would manage the company making all strategic decisions while John would only take care of marketing.

However, thanks to his very good contacts in Ireland, John received a tempting offer of 5,000 desktop scanners from an Irish company. The offer was extremely good but valid only for a few hours: there would be plenty of other companies interested. John had no time to consult Jukka and he ordered the products by himself. To be able to handle the payment he signed a bill of exchange in the name of the company. When Jukka learned this he was furious. He left Finland for Ceylon, where he bought a lodge for the company, and stayed there for five weeks.

Meanwhile, John had closed several deals with suppliers concerning future production. He was also considering diversifying the company’s business. John had employed an assistant, a charming Irish lady, Jessica Porr. When Jukka returned, John told him that he is going to make Jessica a partner if she proves to be a good worker since Jukka travels too much and John doesn’t like to have all responsibility on his own. Jukka is scared the company might go bankrupt. Explain the legal facts to him.

3. New partner

On August 1, 1993, as the partnership was entering its third financial year, Jessica was accepted as a new partner. Jessica, however, had strong disagreements with the other partners and indicated on January 31, 1994 that she would resign on July 31, 1994. Her resignation was entered into the trade register, with public notice given on December 20, 1994. Later, she asked you to help her sort out her debts to the company. Jessica understood that she was liable for trade debts from August 1,

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Online Course1993 to July 31, 1994. However, she doesn't know whether she is also liable for trade debts before August 1, 1993 and after July 31, 1994. What is your answer?

4. Setting up a limited company

Jukka Toppinen dissolved the general partnership. However, he still wants to carry on his business of importing and installing computer technology and he wonders if he could manage better in the form of a limited company. He would like to continue co-operation with the charming Jessica Porr but not with John Smith. However, John would also like to participate in the business and he regrets the disagreement he had with Jukka. John has a big card up his sleeve: he has money.

Jukka has many worries: the potential bureaucracy connected with registering a limited company; how much time it will take before he can start doing business; and the share capital. He also worries about extending the company too much; he would like to keep decision-making power to himself as much as possible. He wonders what will be the composition of the board of directors, and who will make decisions concerning his business.

5. Matchbox Oy

Shareholders of Matchbox Oy were concerned about the administration of the company during the transpired financial year.

a) Mr. Smith, Managing Director, had given a sailing boat as a present to a German company, which is an important customer. The financial situation of the company looked bad and shareholders Martinsen and Brown were considering whether Smith was entitled to make a decision like this. How would you advice them?

b) The bookkeeping was seriously defective with several months’ accounts entirely missing. The auditors nevertheless proposed to the Annual General Meeting that the balance sheet be approved and that release from liability be granted. Who is responsible?

6. Mrs. Clive’s rights

The shareholders’ meeting of Matchbox Ltd. decided on a provision guaranteeing valuable retirement benefits to the five shareholders who had founded the company and to their spouses. The decision was made by a majority of votes cast. One shareholder, Mrs. Clive, objected saying the decision was not valid. What do you think?

7. Oy Hilavitkutin Ab

According to its articles of association Oy Hilavitkutin Ab has two classes of shares: with the first entitling one vote and the other ten votes. The company’s complete list of votes is as follows:

Aapeli Aho 30 shares at 10 votes = 300 votesBerit Aho 20 shares at 10 votes = 200 votesCecilia Kulo 50 shares at 1 vote = 50 votesTaavi Lanu 50 shares at 1 vote = 50 votesTotal 150 shares = 600 votes

a) A vote for board members was arranged at the shareholders' meeting. Eero and Gabriel were competing for the same position. What was the outcome if Cecilia and Taavi voted for Eero and Aapeli and Berit voted for Gabriel?

b) In another shareholders’ meeting of Hilavitkutin, the partners contemplated an amendment to the Articles of Association. Aapeli couldn't attend the meeting. Berit and Cecilia agreed to the proposal, while Taavi abstained from voting. Was the proposal accepted?

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Option 7.b

DEBTS AND COLLATERALS

Material: o Aapo Surakka. Access to Finnish Law. 1st edition pp. 106-125o Promissory Notes Act, 622/1947o Consumer Protection Act, 38/1978o Act on Guarantees and Third Party Pledges, 361/1999o Code of Real Estate, 540/1995o PowerPoint slides

ASSIGNMENT

1.1. If you found a document like the one on the left, what would you do?

2. On basis of the Promissory Notes Act,

a. Comment on the form of the document?b. To whom shall the debt be paid?c. Where shall the debt be paid?d. When shall the debt be paid?e. How much shall Vivi pay, how about Tom?f. What happens if either Vivi or Tom pays nothing?g. How much is the interest?h. If the payment is delayed, what is the penalty

interest ratei. From what date shall the overdue interest be paid?

2. Study what the Consumer Protection Act (Chapter 7, Section 19) stipulates about unauthorized credit card use, and solve the following case: Jessica Lang’s credit card was stolen on 11 June during an international cruise. Because of her poor language skills she did not notify of the crime until 13 June when the ship arrived home.

Later Jessica was informed that her credit card had been used on 12 June to pay for two restaurant bills worth € 200 signed by Rita Jones, and on 14 June at a jeweller’s signed by Jessica Lang.

Jessica is desperate, will she have to pay for someone else’s purchases?

We will pay € 4000

Vivi Smith Tom BlackVivi Smith Tom Black

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Online Course3. Jack H. Baloo, the director of Hulabaloo Inc. is planning to transfer a promissory note to Canadian

Central Bank Ltd. Tell him how to write the endorsement.

4. Cliff had given Rita a € 2000 promissory note made out to order, and later paid Rita € 300. Lisa and Cary

were guarantors of the debt. There was no mention about the nature of the guarantee or the mutual responsibility of the guarantors.

Rita had transferred the promissory note to Irma. On the due date Cliff claimed that his remaining debt was only € 1700 and that he couldn’t repay even that because he had no money.

How much money could Irma demand from Lisa and how should she proceed?

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