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  • Obli 1.0

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    The document discusses two scenarios involving obligations and contracts: 1. Scott gave Jenny a sizable portion of his company's shares in exchange for her lowering the company's tax burden by 50% without consulting tax authorities. This transfer of shares was invalid as a person cannot unilaterally decrease tax obligations through private agreements. 2. Jasper was blackmailed by Nio into selling his company by threats to use government contacts to shut it down. Jasper should seek to invalidate the sale contract as it was made under duress, which is not a valid foundation for an agreement.

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    quiz 6

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    OBLI 1.0

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    The document discusses two scenarios involving obligations and contracts: 1. Scott gave Jenny a sizable portion of his company's shares in exchange for her lowering the company's tax burden by 50% without consulting tax authorities. This transfer of shares was invalid as a person cannot unilaterally decrease tax obligations through private agreements. 2. Jasper was blackmailed by Nio into selling his company by threats to use government contacts to shut it down. Jasper should seek to invalidate the sale contract as it was made under duress, which is not a valid foundation for an agreement.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    5 views1 page

    Obli 1.0

    Uploaded by

    number one
    The document discusses two scenarios involving obligations and contracts: 1. Scott gave Jenny a sizable portion of his company's shares in exchange for her lowering the company's tax burden by 50% without consulting tax authorities. This transfer of shares was invalid as a person cannot unilaterally decrease tax obligations through private agreements. 2. Jasper was blackmailed by Nio into selling his company by threats to use government contacts to shut it down. Jasper should seek to invalidate the sale contract as it was made under duress, which is not a valid foundation for an agreement.

    Copyright:

    © All Rights Reserved
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    of 1

    PRE-FINAL EXAM

    OBLIGATION AND CONTRACT

    1. Scott asked Jenny to cooperate with the Bureau of Internal Revenue (BIR) in further lowering the
    company's tax obligations since he thought she was an accountant. As this was going on, Jenny
    took advantage of Scott's misplaced confidence and persuaded him to accept a sizeable number
    of the company's shares in return for a 50% reduction in the tax burden. Is it legal for Scott to
    have given Jenny a sizable portion of the company's shares? If not, why not? The transfer by
    Scott to Jenny of a significant portion of the company's shares is invalid. A person's or a
    business's tax burden is not expected to be decreased by agreements made between two
    people without consulting the appropriate authorities. This indicates that Scott's activities

    2. Jasper is unwilling to consider selling his company, but Nio is highly interested in buying it. Since
    Nio is accustomed to having his way, he blackmailed Jasper by threatening to use his contacts
    with the Department of Trade and Industry (DTI) to have Jasper's company shut down. What
    should Jasper do to reclaim the company that he sold to Nio out of fear? What should the
    foundation of his treatment be?

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