Roberta Sacks has been negotiating with Mrs. Samantha Muldoon, the owner of a 7 acre parcel of undeveloped property located on the outskirts of town. Ms. Sacks hopes to create a small equine center, one that can be used for riding lessons, horse boarding, and summer camps.

After several weeks of negotiation, Ms. Sacks and Mrs. Muldoon finally agree on the terms of the purchase and sale of the property, the total cost of which will be $895,000.00. Although the parties have agreed in principle, the written contract, however, is still in the process of being drafted by Mrs. Muldoon's attorney. And, although the parties have not yet signed any written documents, upon reaching an agreement in principle, Ms. Sacks pays, and Mrs. Muldoon accepts, $250,000.00 to bind the deal.

The following week, also, before receiving any contract documentation, Ms. Sacks hires a contractor who enters upon the land and begins to clear trees from the area that will ultimately house the indoor riding arena. This work continues for two weeks, until one day, Mrs. Muldoon visits Ms. Sacks at home, hands Ms. Sacks the $250,000.00 check, and claims the sale is off.  

Explain what the Statute of Frauds is as it relates to written contracts and under what circumstances the Statute of Frauds applies generally.

Against the backdrop of your explanation, does Mrs. Muldoon have the legal right to walk away from the agreement with Ms. Sacks and keep the land that she promised to sell. Why or why not?

Julie Brown is in her late 20s. She is renting an apartment in the fashionable part of town for $1,200 a month. After much thought, she’s seriously considering buying a condominium for $175,000. She intends to put 20 percent down and expects that closing costs will amount to another $5,000; a commercial bank has agreed to lend her money at the fixed rate of 6 percent on a 15-year mortgage. Julie would have to pay an annual condominium owner’s insurance premium of $600 and property taxes of $1,200 a year (she’s now paying renter’s insurance of $550 per year). In addition, she estimates that annual maintenance expenses will be about 0.5 percent of the price of the condo (which includes a $30 monthly fee to the property owners’ association). Julie’s income puts her in the 25 percent tax bracket (she itemizes her deductions on her tax returns), and she earns an after-tax rate of return on her investments of around 4 percent.

1. Working with a friend who is a realtor, Julie has learned that condos like the one that she’s thinking of buying are appreciating in value at the rate of 3.5 percent a year and are expected to continue doing so. Would such information affect the rent-or-buy decision made in Question 1? Explain.
2. Discuss any other factors that should be considered when making a rent-or-buy decision.
3. Which alternative would you recommend for Julie in light of your analysis?

1. Indicate if the following is loss prevention, loss reduction, separation or avoidance:

1. You installed a fire sprinkler system in your warehouse.

2. You put one set of keys in your pocket and another set in your glove compartment.

3. You do not want to get into a car accident so you never get into a car.

4. You lock your car every night.

5. Two business executives take different flights to the same meeting.

____________________________________________________________________________________________

2. Indicate if the statements below are examples of a property risk, a liability risk, and a personal risk or a commercial risk. Each answer should have two responses.

A family home has burned down. EXAMPLE ANSWER: Property & Personal

1. An employee sues a business for wrongful termination

2. A women’s jewelry was stolen from her jewelry box

3. A warehouse is hit by a hurricane and destroyed

4. A warehouse is hit by a hurricane but is okay, the warehouse stored equipment for a business down the street and all the equipment is ruined. There was a contract that the warehouse owner would keep the equipment safe.

5. A doctor botches a routine surgery and the patient dies

_____________________________________________________________________________________________

3. State if the following is an example of legal liability, answers should be yes or no:

1. A warehouse is hit by a hurricane but is okay, the warehouse stored equipment for a business down the street and all the equipment is ruined. There was a contract that the warehouse owner would keep the equipment safe.

2. A tenant moves into an apartment and signs a lease

3. A neighbor helps his neighbor pick up trash in the street

4. A person borrows a moped to drive around town and doesn’t return it

5. A contractor signs a contract to replace a roof on a municipal building

Question 2: Pocket Politics (any resemblance to recent events is purely coincidental) Long time ago, in a country far far away, a Totally Racist Unqualified Malicious President ruled the land with an iron fist. His rivals had to do everything in their power to free the people from his terrible regime and make the country great again. Many people offered to take the TRUMP down, but six wise and brave men and women stood out from the rest:
1. Joe “Busy Hands” Bye-then (J) 2. Bernie “Crazy Eyes” Slanders (B) 3. Elizabeth “Pocahontas” Warden (E) 4. Tulsi “Go Land Crabs!” Globbard (T) 5. Mike “Mini Me” Broomfield (M) 6. Pete “Father-of-Chickens” Boot-a-Judge (P)
In order for the good people to make the right choice, the candidates have to gather in the town hall for a night of sword fights and verbal altercations. You are in charge of organizing the grand event.

Q1. Since no clear ranking could be established at the previous fights, the candidates are now paired up tournament style and each pair fights it out until someone gives up. How many ways do you have to divide the six candidates into three pairs? (Hint: How many ways can you select one pair? How many ways does it leave you to select the second pair? Then the third? Don’t forget to eliminate redundancy due to order).

Approximately 45% of Baby Boomers—those born between 1946 and 1964—are still in the workforce (www.pewresearch.org, May 11, 2015). Six Baby Boomers are selected at random.

a.What is the probability that exactly one of the Baby Boomers is still in the workforce?

b.What is the probability that at least five of the Baby Boomers are still in the workforce?

c.What is the probability that less than two of the Baby Boomers are still in the workforce?

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d.What is the probability that more than the expected number of the Baby Boomers are still in the workforce?

what is the standard deviation?

what is the mean?

Which one is the parameter of a binomial distribution? Choose all applied.

Which one is the characteristics of Bernoulli process? Choose all applied.

Which one is the binomial process? Choose all applied.

A 27-year old white female presented her self at her local physician on August 15. On physical exam, the patient had a fever of 38.5C. She appeared fatigued, had tender abdomen and complained of headache, stiff neck and backache with diarrhea. The physician noted an irregular heartbeat. The patient complained of lack of ability to concentrate. The patient gave the following history: She is a graduate student in the wildlife program at the University in her town. She was in the field for three weeks in Wisconsin during the months of May and June. She tracks small mammals in the field and studies their behavior. It had been a warm, wet spring and she complained of a large number of flies in the area. She felt sick the last day there after eating some canned food, as there was no cooler there. You had no time for culturing, as you need to take action fast. 1. What type of disease she could have based on the symptoms and why? You are not required to name a specific disease but a general type of disease. Naming a disease means you have answered the question wrong. 2. What features are not critical to your diagnosis from the case & why? 3. What further steps should be taken to precisely identify the case & why? What microbes you will not consider and why [name 4]. 4. What steps would you take to ensure that the patient is stable till diagnosis is confirmed; explain why would you do this?

PROBLEM 3.

In Torp, there are 200 people who want to sell their used cars. Everybody knows that 100 of these cars are "lemons" and 100 of these cars are "good." The problem is that nobody except the original owners know which are which. Owners of lemons will be happy to get rid of their cars for any price greater than $200. Owners of good used cars will be willing to sell them for any price greater than $1,500, but will keep them if they can't get $1,500. There are a large number of buyers who would be willing to pay $2,500 for a good used car but would pay only $300 for a lemon. When these buyers are not sure of the quality of the car they buy, they are willing to pay the expected value of the car, given the knowledge they have.

A. If all 200 used cars in Torp were for sale, how much would buyers be willing to pay for a used car? Would owners of good used cars be willing to sell their used cars at this price? Would there be an equilibrium in which all used cars are sold? Describe the equilibrium that would take place in Torp.

B. Suppose that instead of there being 100 cars of each kind, everyone in town is aware that there are 120 good cars and 80 lemons. How much would buyers be willing to pay for a used car? Would owners of good used cars be willing to sell their used cars at this price? Would there be an equilibrium in which all used cars are sold? Would there be an equilibrium in which only the lemons were sold? Describe the possible equilibrium or equilibria that would take place in Torp.

1. Mary is aware of the many ways the body adapts to training at high altitude. She is a competitive runner and wonders if training in high-altitude environments will help her performance at sea level. She wants to implement a "live high, train low" strategy. How could she achieve this?

a. Live and train at high altitude for one month and then compete at sea level.

b. Move to a town with higher elevation and train in her neighborhood.

c. Sleep in a simulated high altitude environment and train at sea level.

d. Sleep in a simulated sea-level environment and train in a high altitude environment.

2. Jim lives at sea level and is planning to hike Pikes Peak at an altitude of 14,000 feet. As you know, there are environmental differences between locations at sea level and locations at higher elevations.

Which of the following statements are true about the environmental differences between sea level and high-altitude environments? Select all of the true statements.

Select one or more:

a. Reduced barometric pressure increases oxygen availability in the blood.

b. Regardless of elevation, the Earth's atmosphere is always comprised of 20.93% oxygen.

c. As altitude increases, air temperature tends to decrease.

d. Cities at sea level tend to have an average barometric pressure of 430 mmHg.

e. As altitude increases, barometric pressure decreases.

3.

f. At higher altitudes, the atmosphere has a reduced ratio of oxygen to carbon dioxide.

g. As partial pressure of oxygen decreases, it becomes more difficult for the body to deliver adequate oxygen throughout the body.

Case Study Team Discussion (Patient Case #5) - Case Study Team 8

From BIOL&242 DE 9772/9774

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Below are symptoms of a patient related to the Renal System. Each person needs to answer all of these and then reply substantially to their teammates. As a team you should come to a final conclusion on all 3 questions in regards to the Patient and the symptoms. *Only the people in your group/team can see your discussions. Based on the symptoms answer the following questions:

1. Identify all anatomical structures related to and/or that are being affected based on the patient case information. (i.e. tissues, organs, vessels, brain components, membranes)
2. Explain how the anatomical structures and their physiological function/dysfunction are interrelated normally and what is going wrong with the structures in this current patient case information.
3. Identify and explain possible a diagnosis and what can be done to fix or reverse the current situation described in the patient case information. Please be specific and detailed.

Patient Case (Initial Review): (More information may be coming on June 8th)

You are an ER Doc in a rural town and you just walked in to a room with a patient named Frank. Frank is in serious condition. Upon entering the room and performing a quick physical evaluation you identify the following physical symptoms:

• Cough
• Mucus
• Cyanosis
• Swollen Liver
• Edema
• sPO₂ of 70%

You ask for lab tests and get the following lab results:

• pH 7.32
• PaO₂ 35 mmHg
• PaCO₂ 80 mmHg
• HCO₃^- 40 mM