Billy Joel Business Ethics and Law Case Study. In the above case scenario, the oral contract that was made between the seller and the buyer are not binding in the court of law in accordance to the contract law.

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Business Ethics & Law Case Study

Case Study

Billy Joel decided he wanted to learn to play the violin for his next set of concerts. He called a violin salesman in New York and asked if he had any for sale. The salesman stated he had a Stradivarius and a Guarnerius (two famous brands of violins) and offered to sell them to Billy for $80,000 and $24,000, respectively. Billy agreed, over the phone, to purchase the violins from the salesman and told him he would be in town the next week to pick them up.

Billy didn't show up for two months, and when he entered the store, the salesman wasn't there. His wife, Margaret, was there in the store, however, and she had full knowledge of the deal cut between her husband and Billy. (She'd heard her husband whining, complaining, and wailing about Billy not showing up for the last 2 months - and she was really sick of hearing about it.)

Billy asked to see the violins, and Margaret showed him both of them. Billy stated he would agree to pay $65,000 for both of them, and Margaret, knowing that they were counterfeits and