Business Law Eminent Domain Process & Contracts And Consumer Law
Business Finance
Please answer the following 3 questions. One page per question. Two references per question. APA format.
1. Perhaps one of the most vexing issues facing individuals and business when it comes to property rights is the concept of eminent domain. While this specific topic is not covered in Chapter 7, it is crucial to any discussion of property in a business law course.
Eminent domain refers to the power of the government to take private property and convert it into public use. The Fifth Amendment provides that the government may only exercise this power if they provide just compensation to the property owners.
Further explain eminent domain, as in what are the elements necessary for the government to exercise the power of eminent domain, and also explain whether you agree or disagree with this power. Finally, find an article where you think the power was properly used or improperly used and why. Provide the link to the article.
2. Chapter 8 explores the concepts of contract formation. Please discuss the evolution of contract formation over the last 50 years (yes I know this is vague and it is meant to be!). Please further discuss whether the “Statue of Frauds” should is and/or should be followed in this day and age. As always support your discussion.
3. Chapter 9 discusses Contractual Performance and Breach. Please find a real life example involving these topics that also incorporates the main concepts of Chapters 7 and 8. Provide a link, summarize the situation, and explain why you believe it incorporates the main topics of all three chapters.
