Issue Spotting Scenario: Contracts
Scenario
On February 1st, John agrees to prepare Susan’s tax return for $1,000 and complete the work by April 15th. On April 12th, Susan calls John to check on the status of her tax return and John tells her that he won’t be able to complete her return by April 15th. Susan then hires A1 Tax services to complete her tax return. A1 charges Susan $1,500.00 and completes the return on time.
Directions
What legal rights does Susan have against John?
Describe the relevant facts in determining Susan’s rights.
What type of event has occurred?
Are damages recoverable in the above situation? If so, what type? What amount?
List all of the issues that might affect the calculation or recovery of damages.
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Index Fund – Series A. She has a few questions for
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a) Does the reported fund’s return include the Management
Expense Ratio (MER) ? Yes or No
b) What type of fee is charged: No-load, Front-end load or a
Back-end load?
c) Is the status of this mutual fund classified as a closed-end
or open-end mutual fund?
d) Based on your response in c), explain...
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