MGMT 520 Final Exam Latest VERSION

MGMT 520 Final Exam Latest VERSION

Author: Christine Farr


(TCO A & F) Farmer Joe Andrews, who owned 350 acres of farm land, was approached by Ajax Oil Company that offered to buy the front 30 acres of his land, which bordered on a four-lane highway, so they could build a gasoline station. Ajax Oil asked Mr. Andrews if he had complete ownership of the land, and he assured them he did. The two parties negotiated on the price and terms of the land sale for several days and finally agreed on a price of $60,000 for the 30 acres and Mr. Andrews signed a Quit Claim Deed transferring ownership to Ajax Oil. Ajax Oil developed the land and built the gasoline station with a typical small grocery store, and a car wash. The gasoline station functioned well for the next eight years, and was very profitable. The State Highway Department contacted Ajax Oil, and told them the state had acquired the right to take the land 30 years ago for expansion of the highway through a Special Warranty Deed from farmer James Barnes, who had owned and operated the farm before Joe Andrews. The issue quickly goes to court with the State Highway Department, Ajax Oil, farmer Joe Andrews, and farmer Barnes’ Heirs, all parties to the legal activity. What issues are involved here in regard transfer of right to land? Who do you think will prevail?

2. (TCO I) An American Petroleum Engineer, who has been on an Offshore Nigerian Oil Platform for 30 days, enters Lagos harbor in a work boat with 15 Nigerian oil rig workers. The work boat is stopped by the Lagos Harbor Police. The Police Captain immediately spots the American and demands to see his Work Visa. The Engineer surrenders his Passport and Business Visa to the Police Captain. The Police Captain says the paperwork is not complete, and demands the Engineer jump into the Harbor Police boat to be taken to the Immigration Bureau for prosecution. The Engineer says he has a plane ticket out of Nigeria for 10:00 PM that night, and cannot afford to miss his flight. The Police Captain says, you will miss your flight unless you will give me $500 for my kids for Christmas. The Engineer says, I only have $300, and the Police Captain says that will do. The Engineer gives the Police Captain the $300, and the Captain pushes his boat away and says “Have A Nice Trip”. This issue is simple, “does this payment to the Harbor Police Captain constitute a bribe under the Foreign Corrupt Practices Act”? What provisions of the FCPA cover such payments?

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