Legal Aspects of Business Decisions Unit 2 IP Research Paper

Legal Aspects of Business Decisions Unit 2 IP - Research Paper Example Sturge Ltd to honor obligation amounts to violation of Ohio’s statutory and property law. According to Steinberg (1993), the court’s holding asserted that the Ohio Blue Sky Laws in subject were not applicable since international transactions at that time were not explicitly covered within the laws. The plaintiff, West Shell Jr. and the defendant R.W. Sturge Ltd were locked in a case, which was eventually brought to conclusion by Hamilton County Court in December 08, 1993. With respect to the presiding judges, West Shell Jr. et al were supposed to be refunded all monetary resources that they incurred as loses after investing in unregistered securities. According to Steinberg (1993), the court established that the defendant R.W. Sturge Ltd et al made a coalition with other third parties in selling illegal stocks and securities to the plaintiff. Therefore, R.W. Sturge Ltd et al was liable for refunding money used to purchase securities as well as payment of any attorney fees incurred by the plaintiff throughout the case. With respect to procedural construct of the case, British law asserts that any insurance and investment premium received by underwriters of a financial company is automatically placed in a trust fund. Any profits realized from a trust fund are released to the underwriters association, upon which the underwriters will extend the proceeds to investors. In this case, R.W. Sturge Ltd failed to honor its agreement by selling illegitimate securities to the plaintiff. Consequently, the plaintiff argued that the agreement binding the sale of securities was void under the Ohio Blue Sky Law. With respect to the legal background, Ohio Blue Sky Laws states that all public transactions brought into Ohio are accorded protection from fraudulent contracts and misrepresentation of facts during an agreement. According to Steinberg (1993), this means that Ohio Blue Sky Laws protect investors against gullibility and mischievousness of international