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Presley owed Dr. Dillon $25,000 for professional services. Dr. Dillon orally assigned this claim to Ava, her adult daughter, as a wedding gift. Shortly thereafter, Dr. Dillon suffered substantial losses in the stock market, and assigned by a signed writing the same claim to her stockbroker, Saxton, in partial satisfaction of previous financial advances legally made by Saxton to Dr. Dillon in Dr. Dillon’s previous stock-market transactions. Without knowledge of either assignment, Presley subsequently paid Dr. Dillon the $25,000 then due, which Dr. Dillon promptly lost at a horse track, although she remains solvent.Assuming that Article 9 of the UCC does not apply to either of the assignments in this situation, which of the following is a correct statement of the parties’ rights and liabilities?

Collins, who has been in the painting and contracting business for 10 years and has a fine reputation, contracts to paint Faith’s barn. The barn is a standard red barn with a loft. The contract has no provision regarding assignment.If Collins assigns the contract to Pablo, a professional painter, and thereafter Pablo does not meet the contract specifications in painting the barn, Faith:

Valmart faxed the following signed message to Widget World, its long-time widget supplier: “Urgently need blue widgets. Ship immediately three gross at your current list price of $600.” Upon receipt of the fax, Widget World shipped three gross of red widgets to Valmart and faxed the following message: “Temporarily out of blue. In case red will help, we are shipping three gross at the same price. Hope you can use them.”Upon Valmart’s timely receipt of both the shipment and Widget World’s fax, which of the following best describes the rights and duties of Valmart and Widget World?

(Bonus up to 5 points): List and describe common chronic illnesses that affect older adults in late adulthood and explain their potential impact on daily life.

Define equity in law and explain the type of situation in which it becomes necessary.

Short Answer QuestionsProvide concise but complete responses to the following questions. Answers need not be more than five sentences.

Define ex post facto laws as articulated in Calder v. Bull (1798).

At 2:00 a.m., in the small town of Red Valley, Derek—a 32-year-old man recently discharged from a psychiatric hospital—begins pacing outside Maya’s home. Derek has long believed that Maya, his former coworker, is part of a secret organization conspiring to destroy his memory through “electromagnetic waves.” Earlier that day, Derek stopped taking his prescribed antipsychotic medication because he felt it was “poison.” Holding a gas can, Derek mutters to himself repeatedly: “Fire will reveal the truth.” Derek pours gasoline along the side of Maya’s detached garage and lights it. The detached garage was about 500 feet from Maya’s home. Flames quickly spread. As the fire grows, Derek smiles and walks toward the front door to “warn” Maya that her home “needs to be cleansed.” Before he reaches the door, Marcos, a jogger passing by, sees the fire, runs toward Derek yelling, “What are you doing?” Derek, startled, swings the empty gas can at Marcos, striking him in the face and fracturing his orbital bone. Marcos falls, badly injured. Hearing the shouting, Maya opens her front door. Derek, agitated, shouts: “They told you to melt my mind!” and charges at her. Maya darts back inside and tries to shut the door, but Derek forces it partly open. As Maya struggles to close it, Derek grabs her forearm with both hands and twists violently. The torque crushes several bones in her hand and permanently damages two fingers, which later must be partially amputated. Before Derek can enter the home, police arrive. Derek collapses to the ground and screams, “The fire cleanses! You can’t stop them!” He is arrested and later undergoes psychiatric evaluation. Two psychiatrists diagnose him with untreated schizophrenia marked by persistent delusions; one opines he could not appreciate the wrongfulness of his actions at the time of the fire, while the other believes he understood that setting a fire was illegal but felt compelled by his delusion. Discuss all crimes Derek may be charged with and discuss all defenses.

On January 1, 2025, Giant Co. purchased the following investments for cash: 18,000 shares Rock Co. stock $30,000 35,000 shares Boulder Co. stock $350,000 Both Rock and Boulder have 100,000 common shares outstanding. During 2025, Rock and Boulder had the following information: Net Income Cash Dividends per Share Market Price per Share at 12/31/25 Rock Co. $250,000 $0.25 $1.50 Boulder Co. $500,000 $0.45 $10.70 Instructions: How should each of these investments be accounted for? Explain. For each investment, journalize the following transactions for Giant Co., assuming a December 31 year-end: Purchase of the investments on January 1, 2025. Dividends received from the investments during 2025. Any adjustment for net income earned by the investment. Any adjustment for the investment’s year-end market price. Assume the fair value adjustment account had a $4,000 credit balance prior to any adjustment.

On March 1, Uncle Art mailed a letter to his adult nephew, Neil, that stated: “I am thinking of selling my car, which you have seen and ridden in. I would consider taking $5,000 for it.” On March 3, Neil mailed the following response: “I will buy your car for $5,000 cash.” Uncle Art received this letter on March 5 and on March 6 mailed a note that stated: “It’s a deal.” On March 7, before Neil had received the letter of March 6, he phoned Uncle Art to report that he no longer wanted to buy the car because his driver’s license had been suspended. Which of the following statements concerning this exchange is accurate?