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Discussing Business Law: Contracts, Minors and Land Value

First Question:
In your opinion, are certain types of contracts unethical or unconscionable? (or at least should be) If so, what types of contracts are either unethical or unconscionable? How should the law treat a situation where a contract is unethical or unconscionable?

Second Question:
In discussing capacity, and specifically in dealing with Minors, we see a relatively consistent holding in favor of the Minor (sometimes arguably bordering on the "unfair"). Do you agree with this approach - that is, do you think it makes sense to pass this risk on to those doing business with Minors? Are there any negatives that you can see to this approach? Is 18 the appropriate age, or should we consider a younger cutoff (e.g. 14, 16, etc.)?

Third Question:
Is it legal and ethical to use multiple non-disclosed agents to mask the volume and value of land purchases in order to obtain land at a price lower than its actual value?

Is it ethical to buy land at a low price, knowing its value is going to go up, then sell it at the elevated price?

Was it ethical to issue stock options to the executives who knew about the impending land acquisition and mineral strike?

Although the press release issued in response to rumors was technically accurate, its downplaying of the situation is misleading. Is this a legal or ethical practice?

Solution Preview

1. Yes, those made with children, elderly over 75, and sick are all unethical and in many cases unconscionable. Any contract that asks for money, without clear and concise information spelled out in writing and with time for the signer to read and understand it, is the worst. While many over the age of 75 are still cognitive, they often need time to read and understand what they are being told. Any such contract should be either judged as illegal and the person involved absolved and refunded or the contract noted as nil and void.

2. Minors often do not have the capacity to understand the meaning of words used in contracts. Additionally, they are ever hopeful of all ...

Solution Summary

The expert determines if the ethical to issue stock options to the executives who knew about the impending land acquisition and mineral strike.