Billy Joel Business Ethics and Law Case Study

Billy Joel chose he needed to figure out how to play the violin for his next arrangement of shows. He called a violin sales rep in New York and approached on the off chance that he had any available to be purchased. The sales rep expressed he had a Stradivarius and a Guarnerius (two well known brands of violins) and offered to offer them to Billy for $80,000 and $24,000, separately. Billy concurred, via telephone, to buy the violins from the sales rep and disclosed to him he would be visiting the area the following week to get them. Billy didn't appear for two months, and when he entered the store, the sales rep wasn't there. His better half, Margaret, was there in the store, be that as it may, and she had full information on the arrangement cut between her significant other and Billy. (She'd heard her significant other crying, griping, and howling about Billy not appearing throughout the previous 2 months †and she was truly tired of catching wind of it.) Billy requested to see the violins, and Margaret demonstrated him them two. Billy expressed he would consent to pay $65,000 for them two, and Margaret, realizing that they were fakes and just worth $2,000 AND understanding that their home was going to go into abandonment, consented to the decrease in cost and sold Billy the two violins for $65,000. She gave him a bill of offer that she worked out on a notebook on the counter, which stated, â€Å"Paid in full. Strativarus and Granruius violans. $65,000. Chk # 4301 Billy Joel. Salesman: Margaret Madoff.† The scratch pad was one she had carried home from their last get-away to Las Vegas and was from The Flamingo inn there. Billy brought home the violins and continued to figure out how to play, though inadequately. Then, the sales rep finds that Margaret sold the violins for short of what he had expected. He sues Billy Joel for the $39,000 distinction, expressing that Margaret was not a worker of the store and had no position to change the arrangement he and Billy had made. During the pendency of the suit, and after his next show, the papers expressed, â€Å"Billy Joel should quit any pretense of playing the violin! He stinks!† Billy takes his violins to a music store to sell them and finds they are just worth $2,000 and that they are not Stradivarius and Guarnerius violins but rather are rather fakes. He needs to countersue the sales rep and asks you on what premise would he be able to do as such. Utilizing agreement, organization, and some other lawful ideas you have taken in this meeting, on what bases would billy be able to sue the sales rep and his better half? What resistances will they have? Do you figure Billy can recuperate? Further, will Margaret's significant other (his name is Bernard) have the option to gather against Billy at the distinction in cost from the first arrangement? Clarify your answer completely with respect to the why's, wherefore's, and for what reason not's for the two gatherings. Use visual cues and â€Å"issue spotting† to help you in your answer. Case Solution In the above case situation, the oral agreement that was made between the merchant and the purchaser are not official in the courtroom in understanding to the agreement law. As for the situation the dealer has been be met with the loss of making due with less that the concurred verbal agreement holds. The offer that was made by the dealer and acknowledged by the purchaser was a halfway satisfaction of the agreement. The missing of verification that in deed an understanding was made between the two gatherings will made the court to decide for Billy. This ought to henceforth be the premise of contention that Billy can utilize. The sell of fake items to a purchaser in significant expenses is viewed as a wrongdoing. The utilization of this premise by Billy holds an opportunity of promising him triumph. This will likewise help in the recovering of his picture as an entertainer showing that it was the fake pianos that lead to the prior horrible showing. It is subsequently basic to express that through these bases Bill will have a solid contention in the court against the business people. Guard to be utilized by the Business Persons: It is fundamental to take note of that the Bernard and Margaret as the business people don't hold a solid body of evidence against Billy because of the need confirmation of the agreement that was made around here exchange. The way that Margaret encouraged the consummation of the verbal business relations with the offer of the piano at a rate that was lower than the at first acknowledged costs can be utilized to express that she was not a business person. The suggested $ 39,000 distinction that Bernard is looking for from Billy Joel with respect to the concurred cost would be founded on the way that the person who encouraged the underlying procedures of the agreement was not a power. The Collection of the Extra Money: The underlying costs that had been verbally cited by the sales rep where: $ 80,000 for Stradivarius piano and $ 24,000 for the Guarnerius piano. The complete value that was paid for during the selling footing was just $65,000 which was less by $ 39,000. The way that the two pianos where regarded to be fake with the absolute worth of just $ 2,000, the odds of the business work force having a discount will be unfruitful. It would not be all together for the court to decide for the Bernard to achieve the additional assets by ideals that they had offered an item to their client that was working appropriately that wound up marking his picture as an entertainer. The first arrangement made between the two gatherings depended on untruths and henceforth ought not be solidified with the compensation of the extra unpaid assets. A discount for the effectively paid assets as far as $ 65,000 ought to be made to the client. In the examination of this case, it has been learned that the holding of physical verification for the agreements must be met in any business relations. This will help in the smooth change of the business exercises (Larson, 2010). Agreement: For this situation, the business contract was made between two gatherings with an oral offer and acknowledgment of the purchaser. In view of the understanding, the two pianos were to be bought at the expressed cost of $104,000. The sensible period to authorize the buy was the concurred multi week where Billy was to gather the things. This can be utilized against him by the merchant expressing that they didn't adhere to the first oral business contract. The demonstration of the dealer misconstruing the value of the two pianos was not legitimate since it is restricted by the central government. The nearness of the outsider in the business connection (spouse) prompted the reconstruction of the agreement another cost created. This prompted the guarantee made to be broken by the purchaser within the sight of the outsider. Office: The apparent power that is held by the spouse of the dealer to give the purchaser another business manage the data she held about the phony idea of the pianos would be named all together in the court if the two mutually claimed the business. The way that she was not gives the vender a high ground in expressing that the buy was made on unreasonable footing without his insight. This gives a fairly solid reason for contention in the journey to accomplish the $ 39,000 distinction in installment that was not made.