It supports the obligation of a borrower to a lender; in the primary contract the rower agrees to provide the lender with something of value ii. Money, or goods and services. Did Glenn act ethically in this case: If the situation was true and Glen had took the loan and Mary agreed up on her husband’s guaranty, then it is absolutely unethical for his friendship however If the things are not recorded in the document, any 3rd person apart from this case will go with Mays favor Bozo it was written anywhere!
No, Contemporary Business Are not guaranty contracts often used in business. In any kind business if you want to consider technically in the Law you have to have in the primary contract the borrower agrees to provide he lender with something of value. 16. 8 Specific Performance Liz Collarbone, Inc. (Collarbone), is a large maker of sportswear in the United States and a welkin name in fashion, with sales of over $1 billion per year. Collarbone distributes its products through 9,000 retail outlets in the United States. Avon Products, Inc. Avon), is a major producer of fragrances, toiletries, and cosmetics, with annual sales of more than $3 billion per year. Collarbone, which desired to promote its well-known name on perfumes and cosmetics, entered into a joint venture with Avon whereby Collarbone would make available its names, trademarks, and marketing experience and Avon would engage in the procurement and manufacture of the fragrances, toiletries, and cosmetics. The parties would equally share the financial requirements of the joint venture. During its first year of operation, the joint venture had sales of more than $16 million.
In the second year, sales increased to $26 million, making it one of the fastest-growing fragrance and cosmetic lines in the country. One year later, Avon sought to “uncouple” the joint venture. Avon thereafter refused to procure and manufacture the line of fragrances and cosmetics for the joint venture. When Collarbone could not obtain the necessary fragrances and cosmetics from any other source for the fall/Christmas season, Collarbone sued Avon for breach of contract, seeking specific performance of the contract by Avon. Is specific performance an appropriate remedy in this case?