Ralph Dewey Is an Assistant Superintendent in the Maple Leaf

question 101

Essay

Ralph Dewey is an assistant superintendent in the Maple Leaf school district.Mr.Dewey's job is to award contracts for all facilities management.Dewey awarded an asbestos removal contract to his brother's firm.Discuss the ethical issues.What models could have helped Dewey in his decision-making process?

Understand the concept and implications of rescission in contract law.

Distinguish between material and immaterial breaches of contract.

Recognize the different types of damages awarded in contract disputes and their purposes.

Identify and explain the types and requirements of performance in contract fulfillment.

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Definitions:

Mortgage

A legal agreement by which a bank, credit union, or other financial institution lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of the title becomes void upon the payment of the debt.

Lien

A legal right or interest that a creditor has in the debtor's property, generally lasting until the debt that it secures is satisfied.

Land

The surface of the earth, extending downward to the center and upward indefinitely into space, inclusive of natural resources and fixtures.

Deed of Trust

A legal document in some states that transfers the title of real property to a trustee as security for a loan until the grantor repays the lender.