LEG 500 week 4Answer and discuss the following:Given your understanding on contract law,identify and explain the requirements and elements for a valid contract. Legally how is a contract formed and...

LEG 500 week 4

Answer and discuss the following:

1. 
   
   
   Given your understanding on contract law,identify and explain the requirements and elements for a valid contract. Legally how is a contract formed and what are some similarities and differences between common law contracts versus the Uniform Commercial Code? Why is it important to distinguish and identify which applies when making a contract business decision?




2. find and provide one breach of contract case examplewithin the last five years from your home state.
   
   
   Be sure to identify your state (Maryland), explain the facts of the case, the parties to the lawsuit, the dispute and the outcome and remedies provided by the court. Provide whether you agreed with the court's decision or not.

article:Section:ENVIRONMENTAL, FOOD & BEVERAGE, INSURANCE, INSURANCE AUTHORITY GENERAL LIABILITY, INSURANCE AUTHORITY PROPERTY

Byline:Elizabeth Daley

Highlight:A company seeking compensation from its insurer for products, ingredients and flavors destroyed when rain leaked into its Baltimore storage facility in the aftermath of Hurricane Florence in 2018 had itscaseremoved toMarylandfederal court Friday by The Travelers Casualty Insurance Company of America.

Body

A company seeking compensation from its insurer for products, ingredients and flavors destroyed when rain leaked into its Baltimore storage facility in the aftermath of Hurricane Florence in 2018 had itscaseremoved toMarylandfederal court Friday by The Travelers Casualty Insurance Company of America.

The insurer said removal was proper for Turinco Group LLC's Septemberbreach of contract caseagainst it, because there was a diversity of citizenship since the insurer is based in Connecticut and the company is based inMaryland. Monetary damages sought by Turinco also exceed $100,000, surpassing the $75,000 limit needed for a federalcase, according to court papers.




Turinco accuses Travelers of not reimbursing it for goods damaged during a covered weather event, even though representatives from the insurance company did not initially dispute that the company's losses were caused by storms following Hurricane Florence.




According to Turinco, on Sept. 18, 2018, after the storms, employees discovered warehouse roof flashing had been stripped by strong winds, allowing rain to enter the building and cause damage. The company says in its complaint that its roof had never leaked before the storms. It reported these damages within a month of discovering them, court records indicate.




More than two years after the damage, Turinco says, Travelers hired construction management company sole proprietor Gary Popolizio to make a report on the damage. Travelers denied Turinco's claim in 2020 based on Popolizio's findings that its roof leaks were caused either by wear and tear or improper membrane installation, according to Turinco's complaint.




When Turinco asked its insurer for more information regarding the denial, Travelers initially refused to provide further details and suggested Turinco file a subpoena, it claims. Turinco started discovery action to gain information from Travelers regarding its denial, and those proceedings evolved into its complaint filed in Baltimore City Circuit Court, the company said.




Turinco is seeking compensation for its losses as well as repayment for costs. It has asked for a jury trial, according to its complaint.




Representatives for Travelers and Turinco did not immediately respond to requests for comment Friday.




Turinco Group LLC is represented byJohn Thomas Prisbeof Venable LLP.




The Travelers Casualty Insurance Company of America is represented byCraig David Roswelland Paulina Joanna Taniewski ofNiles Barton & Wilmer LLP.




Thecaseis Turinco Group LLC v. The Travelers Casualty Insurance Company of America,casenumber 1:22-cv-02854, in the U.S. District Court for the District ofMaryland.




--Editing by Nick Petruncio.

Link to PDF

Link to PDF

Classification

Language:ENGLISH







Publication-Type:Newsletter







Subject:HURRICANE FLORENCE (91%); LAW COURTS & TRIBUNALS (90%); TROPICAL STORMS (90%); WEATHER (90%); LAW & LEGAL SYSTEM (79%); COMPANY LOSSES (78%); DAMAGES (78%); JURY TRIALS (78%); NEGATIVE BUSINESS NEWS (78%); SEVERE WIND (78%); SUBPOENAS (78%); CONTRACTS LAW (74%); MAJOR US LAW FIRMS (74%);BREACHOFCONTRACT(73%); SMALL BUSINESS (73%); SOLE PROPRIETORSHIPS (73%); Food & Beverage (%); Insurance (%); Dockets (%); Federal district court (%); Litigation (%);Maryland(%); North America (%); Insurance Authority General Liability (%); Insurance Authority Property (%); Insurance Authority (%); Environmental (%); Real Estate (%)







Company:


TRAVELERS COS INC (92%); VENABLE LLP (63%); NILES BARTON & WILMER LLP (63%)







Ticker:TRV (NYSE) (92%)







Industry:NAICS524126 DIRECT PROPERTY & CASUALTY INSURANCE CARRIERS (92%); SIC6331 FIRE, MARINE, & CASUALTY INSURANCE (92%); NAICS541110 OFFICES OF LAWYERS (63%); SIC8111 LEGAL SERVICES (63%); CONSTRUCTION (90%); PROPERTY & CASUALTY INSURANCE (90%); WAREHOUSING & STORAGE (90%); GENERAL LIABILITY INSURANCE (78%); INSURANCE REGULATORY BODIES (78%); LIABILITY INSURANCE (78%); ROOFING MATERIALS (78%); MAJOR US LAW FIRMS (74%)







Geographic:BALTIMORE, MD, USA (88%);MARYLAND, USA (94%); CONNECTICUT, USA (77%); UNITED STATES (94%); NORTH AMERICA (79%)







Load-Date:November 18, 2022

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