Business Law

First Chicago sold a number of old file cabinets to Walter Zibton, a dealer in secondhand office furniture. They were purchased "as is" with no warranties at all. Some were locked. Zibton sold one of those cabinets, which was locked with no keys, to the Smiths. The Smiths tried to move the cabinet into their garage, where it fell over, and several of the locked drawers fell open - revealing 1,600 certificates of deposit - seven of which had not been cancelled worth a total of $6,687,948.85. They were all paid payable to "Bearer." First Chicago testified at trial that the employee group responsible for ensuring that all certificates of deposit were handled property had been changed recently due to the errors of the previous group. The new employee group had been trying to sort through all the certificates, but were having difficulty locating them. Who owns the certificates? QUESTION: What property legal causes of action apply here? You must give the name of the legal cause of action, the rule or test, and its application. Which legal causes of action do you think have the highest probability of success in the case? Case 2 - Answer 1-2 paragraphs Apple Corps (a record label owned by the Beatles) sue Apple Inc (a computer company) for trademark infringement. They settled, as long as Apple Inc did not engage in any "music business" and Apple Corps did not engage in any "computer business." In 1991, Apple introduced their now famous chime - sosumi (so sue me) to their computer, and Apple Corps did sue them. They settled under condition that Apple Inc would not sell "physical music materials." Then, Apple Inc started iTunes. Is that trademark infringement? QUESTION: Pick a case that you did not write a brief for and act as a judge. Which arguments did you find the most persuasive? Who do you think should win and why?