Business Studies

Business Studies

Answer both questions 1 and 2 below in this same discussion.

As you hear and read the news this week, find a contract case/story to share with the class that pertains to this week’s readings. You may use a personal example or one from a family member or friend. Feel free to search the Internet for stories, but you cannot use the text website or cases in the textbook. Cases should be within the last 10 years. Check out the Columbia College Library’s Resources for additional research sources.

In 2 or more paragraphs, describe the case to the class using at least 3 different key terms/phrases from this week’s readings (in ALL CAPS). Provide a link or source for your case. Finally, tell the class your impression of the case/issue.
Respond to Chapter 11 Discussion Question 5 (page 300)(restated here for your convenience):

Some states give consumers the right to cancel certain contracts for any reason within a short period of time after entering into them. For example, consumers in California can get out of gym membership contracts by sending the gym a cancellation notice within five business days of joining. Similar statutes cover insurance, weight loss services, door-to-door sales, and home repair contracts. If these agreements meet all of the requirements for a contract, why would a state allow people to get out of them so easily? Is this good policy? Alternatively, if consumers can cancel these contracts, why not allow everyone to cancel any contract within a few days?