Title:

Module 01: Essential functions of law and ethics in business.

Competency:

Analyze laws and ethics to solve business problems.

Scenario:

You work for a U.S. based company that does home appraisals. While conducting an inspection on a home, you know the home has been contracted to sell for $50,000.00. You come to the conclusion that the home can appraise for $80,000.00. You also know that your sister has been looking for a home in this desirable neighborhood but most homes are well over six figures. You mention to the owner that your sister would be happy to pay $60,000.00 for the home and it would certainly appraise for that. You wink as you walk out the door, after handing the owner your card with your contact information. The owner calls you and says she would accept if your sister made an offer.

Instructions:

• Review the situation and conduct scholarly research on contract law. Write a brief in Microsoft Word (minimum two pages) that analyzes the legal and ethical issues involved in the business situation. Specifically, describe the legal theory of a claim, appropriate court level, classification of law, and likely ethical issues that exist.
  • Address the following:
    1. What are the elements for a valid contract involving a real estate transaction? Do your comments to the owner constitute a valid contract? why or why not?
    2. If the initial buyer wants to sue the homeowner for breach of contract, what court(s) would have jurisdiction and why?
    3. If the initial buyer wants to sue you for intentional interference with contractual relations, what court(s) would have jurisdiction and why? Could the initial buyer sue your company? Why or why not?
    4. What ethical issues are involved in this situation (consider any personal conflicts of interest and any professional obligations you owe to your company)?
• Use at least three credible sources. These should be cited and in APA format.

Resources

Grading Rubric

F

F

C

B

A

0

1

2

3

4

Did not Submit

No Pass

Competence

Proficiency

Mastery

Not Submitted

Used unclear verbiage about the elements for a valid contract involving a real estate transaction, including the validation of verbal comments to another party.

Adequately assessed the elements for a valid contract involving a real estate transaction, including the validation of verbal comments to another party.

Clearly assessed the elements for a valid contract involving a real estate transaction, including the validation of verbal comments to another party.

Comprehensively assessed the elements for a valid contract involving a real estate transaction, including the validation of verbal comments to another party in a well-defined brief.

Not Submitted

Used unclear verbiage about the jurisdiction for a breach of contract lawsuit by the initial buyer suing the homeowner.

Adequately explained the jurisdiction for a breach of contract lawsuit by the initial buyer suing the homeowner.

Clearly explained the jurisdiction for a breach of contract lawsuit by the initial buyer suing the homeowner.

Comprehensively explained the jurisdiction for a breach of contract lawsuit by the initial buyer suing the homeowner in a well-defined brief.

Not Submitted

Used unclear verbiage about the jurisdiction for an intentional interference with contractual relations lawsuit by the initial buyer suing the appraiser, including an explanation if the buyer can sue the company.

Adequately explained the jurisdiction for an intentional interference with contractual relations lawsuit by the initial buyer suing the appraiser, including an explanation if the buyer can sue the company.

Clearly explained the jurisdiction for an intentional interference with contractual relations lawsuit by the initial buyer suing the appraiser, including an explanation if the buyer can sue the company.

Comprehensively explained the jurisdiction for an intentional interference with contractual relations lawsuit by the initial buyer suing the appraiser, including an explanation if the buyer can sue the company, in a well-defined brief.

Not Submitted

Used unclear verbiage about the ethical issues involved in this situation (consider personal conflicts of interest and professional obligations owed to the company).

Adequately determined the ethical issues involved in this situation (consider personal conflicts of interest and professional obligations owed to the company).

Clearly determined the ethical issues involved in this situation (consider personal conflicts of interest and professional obligations owed to the company).

Comprehensively determined the ethical issues involved in this situation (consider personal conflicts of interest and professional obligations owed to the company) in a well-defined brief.

Not Submitted

Failed to use or attribute credible sources in the brief.

Used and attributed some credible sources in the brief.

Used and attributed mostly credible sources in the brief.

Used and attributed all credible sources in a well-defined brief.