Business law

Question 1)

The Kings lease a residential dwelling from a partnership. The Lease agreement provides that the tenants are to “take good care of the house” and “make, at their own expense, the necessary repairs caused by their own neglect or misuse.” A guest of the Kings trips on a loose treat on an outside stairway and is injured.

A. Who is legally responsible, the landlord or the tenant? Explain.

B. Who would be held responsible, the landlord or the tenant, if someone in an apartment slipped on a wet kitchen floor?

C. What is the best way to protect yourself before entering into a lease agreement.

Question 2)

William Galindo’s neck was broken while he was playing in a high school football game. As a result of the injury, Galindo is a quadriplegic; he cannon ue his arms or legs. The high school had an accident insurance policy that paid the following: $10,000 for the loss of both hands or arms and $10,000 for the loss of both feet or legs. The policy also contained the following words: “Maximum Dismembership Benefits $10,000”.

A. Is Galindo entitled to insurance proceeds? If so, how much? Explain your answer.

B. If Galino had been killed in the accident how much money would the beneficiary receive if the accident had a double indemnity clause?

C. What other kind of insurance would you hope that Galindo had in this administration.

Question 3)

Taylor took out several student loans to help pay for his college education. During the first year of the repayment period, when he owed $8,697, Taylor filed a petition for involuntary bankruptcy in the U.S. Bankruptcy Court.

A. Must Taylor repay his student loans?

B. Would Taylor have to repay his loan if he filed for bankruptcy during the seventh year of his repayment period?

C. What is the involuntary bankruptcy and how is it filed?