Careers in Finance
Based On The Account Balances Provided, Prepare A Multi-Step Income Statement And A Classified Balance Sheet.



Then in a paragraph or two, state your opinion as to a digital wallet on an I-Phone or smartphone . Do you see this as a positive change or one that will have its problems? Will there be security issues and if so, how should they be handled in the upcoming digital age?


Read the following case and apply the concepts that you have learned from Unit # 3 -CONTRACTS in the textbook and answer the two questions below the facts of the case.

                                         MARIA SMITH v. CHRISTOPHER JONES

Maria’s father died when she was a junior in high school. A year has passed and she and her mother have been grief stricken and financially in trouble. Her mother’s brother, Uncle Chris, has been more present in their lives and tries to cheer them up. On a recent visit, Maria told her Uncle that she was interested in going to Sherman University and was accepted but she and her mother just did not have the financial resources to pull it off. A student loan would be quite a burden for her afterwards. Uncle Chris told her that she should go and if she did and graduated, he had substantial savings in the bank and he would give her $40,000 as a gift on graduation. Afterwards, she spoke to her mother about this and her mom told her that Uncle Chris had a successful business and he could do what he said. Maria left for school and because it was so far away, she didn’t see her Uncle as frequently as when she was in high school after her father’s death.

Well, the years passed and Maria was to graduate from Sherman and she and her mother had him over and invited him to attend the ceremony. Chris mentioned nothing about the money so Maria brought it up when her mom went into the kitchen. She told him that she really appreciated his help and his promise was the reason that she went to college. Uncle Chris looked baffled and said what help and she told him about his promise of a $40,000 gift to help along on graduation. He shook his head and said that gift was not possible. Maria started to cry and ran upstairs to her room. She had over $60,000 in debt from this and she just didn’t know what to do. She decided to go and talk to a lawyer about this matter with her Uncle Chris and his promise that she counted on.

A. As to contract law, what arguments and concepts might be used to argue on behalf of Maria and what arguments and concepts might be used by Chris?

B. If this went to court and you were the judge, how would you rule and state legal reasons behind your opinion?


FORUM  #1 – Tort Litigation and the Fast Food Industry

Read the following case.  Consider the two questions at the end of the case. Based on the principles of law covered in the text, express your opinion in the Forum. Also, be prepared to comment on someone else’s remarks on this case, preferably an individual who has a contrasting point of view from the one that you have in Forum #1


Caesar Barber, from the Bronx, New York, weighs 272 pounds. He filed a lawsuit against McDonald’s, Kentucky Fried Chicken, Wendy’s, and Burger King for contributing to his weight problem. He has a number of health problems commonly associated with high weight – two heart attacks, diabetes, high blood pressure, and high cholesterol. He claims the fast food chains deceived him with ads that said “100 percent beef” and they created a de facto addiction. The case alleges that McDonald’s failed to adequately disclose material facts about its high fat food. “The law of warnings is not designed for the best and brightest of us…. It is aimed at helping people who need to be told not to stand on the top step of a ladder or not to use a hair dryer in the bathtub”, says John Banzhaf, a legal activism teacher at George Washington University Law School. All of the restaurants have nutritional information available on request in their restaurants and online. The plaintiff claims that he didn’t know how fattening or harmful the food was. The TV and print ads promoted the foods as healthy, economical, tasty, and convenient. Also, it is alleged by plaintiffs that the fast food restaurants could use healthier ways to prepare the food. Hence this lawsuit was filed.


1.How would you rule if this case were brought in your court and you were the presiding judge?

2. Should the fast food restaurants be held liable? If so, what legal theories covered would be applicable?

(These two questions should be answered in the Forum)

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