Business Law Briefing Paper (Essay Sample)
Briefing Paper 1: Critical Legal Thinking
Read Murphy Oil USA, Inc. synopsis -- Cheeseman text page 285-286 13.8 Guaranty Contract
There is no need to read the case. Determine how your business would protect itself from a discharge of the debt identified in the case.
Brief the facts of the case and assume your boss is seeking your opinions as on the discharge issue - argue both sides of the issue.
Briefing Paper 2: Law Case with Answers
Read Deficiency Judgment -- Cheeseman text page 268
Determine whether your jurisdiction (state) has an anti-deficiency statute.
Brief the facts of the case and assume your boss is seeking your opinions on the efficacy of anti-deficiency statue when your business is in the position of the First Bank in the example; argue both sides of the issues presented.
Briefing Paper 3: Critical Legal Thinking Cases
Read Sections 13.4 Discharge � (p. 285); 12.8 Risk of Loss� (p. 263); 12.5 Limited Warranty� (p. 262); and 13.3 Bankruptcy � (p. 284-285)
Check the decisions of the highest appellate courts, if a case is cited, for each fact pattern.
Brief the facts of the case and assume your boss is seeking your opinions on whether each of the four subjects affect business in the United States and if so, provide the worst and best case scenarios.
Briefing Paper 4: Ethics Case
Read Section 13.10 Ethics � Cheeseman text page 286
Brief the facts of the case and assume your boss is seeking your opinions on the 3 questions found at the end of Section 13.10. Argue both sides of all issues
Business Law Briefing paper
 Guaranty Contract
A guaranty contract is an agreement, where the guarantor agrees to be responsible for an obligation of the principal or a client. For the plaintiffs, there is a need to establish that there was a valid contract with the guarantor. The plaintiff also furnishes evidence that they performed the end of the bargain. However, when in need to discharge one form the contact, there the guarantor that the terms of the contract have been varied. The anti-discharge provisions can then be utilized to hold the guarantor responsible of an underlying contract even when the terms vary.
The deficiency after foreclosure relates to the debt that borrowers owe to lenders above the foreclosure sales price. The anti-deficiency law in other states forbids lender form suing the borrowers for the borrower principal residence (Cheeseman, 2012). The District of Columbia has anti-deficiency statutes for non- judicial foreclosures. For a business such as First Bank, there is a need to assess the laws of the state and types of mortgages (judicial vs. non judicial). Judicial foreclosures in D.C would be better for lenders to seek deficiency judgments.
 Critical Legal Thinking Cases
Discharge of bankruptcy changes depending on what the debtor file for, as they are released from personal liability for specific debts. For businesses, they can still use a valid lien for discharged debts to recover debt. The worst case scenario is failure to collect discharged owed because of orders prohibiting this action...
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