Bankruptcy Case: Novelty Now, Inc.
Personal jurisdiction is the court's power over the parties involved in the case. Subject-matter jurisdiction is when a case is related to a specific subject matter, such as a bankruptcy case can only be held in bankruptcy court. Minimum contacts is appropriate for a court in one state to assert personal jurisdiction over a defendant from another state. Even though Donald Margolin and his company, Donald Margolin Empire Inc., file suit in the state of New York against Novelty Now Inc. and Chris, Matt, and Ian their contract states In the prompt is says; “Novelty Now’s contract with the three men states that all disputes must be brought in the state of Florida.”
The advantage of pursuing an alternative dispute resolution would be no court cost and more civil and collaborative agreement to resolve issues. If Novelty Now Inc and Chris, Matt, and Ian could meet for a mediation and make a settlement offer out of court, then change their ingredients they might be able to keep
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The four elements to a contract are ACCEPTANCE, CONSIDERATION, CONTRACTUAL CAPACITY AND LEGAL OBJECT
The first element of ACCEPTANCE would be deemed to exist if ONE PERSON MAKES AN OFFER AND THE OTHER ACCEPTS THE OFFER CONSISTING OF TERMS OF AN AGREEMENT.
The second element of CONSIDERATION would be deemed to exist if THE BARGAINED-FOR EXCHANGE OR WHAT EACH PARTY GETS IN EXCHANGE FOR HIS OR HER PROMISE UNDER CONTRACT.
The third element of contractual capacity would be deemed to exist if which means they are at least the age of majority and do not suffer from any defect that renders them unable to understand the nature of the contract or their obligations under it.
The fourth element of LEGAL OBJECT would be deemed to exist if IN ORDER FOR THE CONTRACT TO ENFORCEABLE, THE CONTRACT CANNOT BE EITHER ILLEGAL OR AGAINST PUBLIC
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985 Words | 4 PagesPersonal jurisdiction. This jurisdiction, by definition, is a court’s power to render a decision affecting the rights of the specific persons before the court (Kubasek, Browne, Dhooge, Herron, & Barkacs, 2017). This jurisdiction applies to this case because the lawsuit brought by Mr. Donald Margolin was filed after conducting business over the internet where funds were exchanged for a product. Therefore, the court has jurisdiction over Mr. Margolin and is required to provide a service of process to the defendants, Chris, Matt, Ian, and Novelty Now Inc.
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