Jada and Claire vs. MPG Solar: FIRAC Analysis (Term Paper Sample)

Jada and Claire FIRAC Analysis Paper
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Jada and Claire FIRAC Analysis Paper
Facts
One of the most critical facts pertinent to the cases between Jada and Claire against MPG Solar is that both companies operate in the same state. The two companies are also similar, making them competitors in the same business segment. Jada and Claire also operate at the same level, having reported revenues amounting to over $ 600,000 in a calendar year. The two solar companies have placed their solar panels prone to wildfires and other natural disasters in the same area. One of the notable differences between the two companies is that Jada operates her solar business as Alley Electricity; the company owes its creditor, MPG solar, $120,000. On the other hand, Claire operates her business as Sol Electric, making her the sole shareholder and the person responsible for the company's business undertakings.
Issues
One of the issues that have to be solved in the case between Jada, Claire and their creditor is whether the damages caused by the natural disaster have directly contributed to the losses made by the companies and the defaulted loans. Another pertinent issue in the case between Jada and MPG is how the defaulting of the loan affects Alley electricity and Jada as the sole proprietor of the business. Another issues that needs a close assessment is how SolElectric will be impacted by the defaulted loan since it is an incorporated business. Some companies have insurance packages that safeguard them from natural disasters, such as the regular Wildfires in California and the recent covid19