Business Law and Ethics

I will have a test in Business and Law class tomorrow. I am struggling with a lot of jargons which is difficult even in Japanese.

I tried to read the text book, but it was too thick... I noticed I just read introductory stories on the first pages of each chapter.

One story of them is very interesting. Oliver and Perry were college roommates. Oliver suggested buying a lottery ticket every week together until their graduation day. Perry hesitated but agreed with the contract. That month Oliver bought. The next month Perry bought. Then Perry won $52 million... However, Perry refused to give Oliver even one cent.

Oliver sued, seeking $26 million, and the return of an Eric Clapton compact disc that he had loaned Perry. Can Oliver get $26 million?


Finally, he cannot get based on the statute of frauds. When the agreements cannot be performed within one year, the agreements must be in writing! Oliver learned this the hard way... The good news is Oliver gets back his Eric Clapton disc.

I hate Perry, and tomorrow's test.