Neal, a twelve-year-old, buys a pair of skis from Outdoor Outfitters (OO), telling the salesperson that he has never been skiing
but “really wants to do it.” The salesperson urges Neal to take a lesson in the sport before attempting a run, but Neal ignores the advice. On the first run, Neal loses control, hits a tree, and is injured. Neal files a suit against OO, alleging that it was negligent to have sold the skis to him, when he was clearly too young and inexperienced. Issue: How might OO defend itself? Define, explain and decide
Ordinance Is a law or decree by a municipality. Meanwhile precedent a court decision that is considered as authority for deciding subsequent cases involving identical or similar fact, or similar legal issues.
Trey owns 250 shares of common stock in a toy-store company. This means that he owns a percentage of the company based on the proportion of shares he owns out of the total shares issued by the company. With this ownership he also acquires rights to: vote. George owns 300 shares of preferred stock in a company.
