...The Role and Function of Law Paul Mullen LAW/421 July 30, 2015 Ms. Machelle Thompson JD The Role and Function of Law Law has both vital functions in society and an essential role in business. In American society, governments create law to enable individuals to live freely and with fairness. It functions as a catalyst for civilized living. In American business, laws provide a basis for fair trade and commerce and allow structured business relations. American government creates laws to resolve domestic and foreign legal disputes both public and private. In the marketing industry, law plays a pivotal role in regulating both civil and criminal liability to consumers. In both society and business, law serves both essential functions and an important role. The function of law in American society is to provide individuals with the legal ability to live their lives with fairness and equality. By having a central controlling authority, such as local, state, and federal government, individuals have a specific pre-determined set of agreed-upon rights, responsibilities, and consequences (Melvin, 2011). These pre-determined agreed-upon rights, responsibilities, and consequences include the structure of government, the powers entrusted to government, and the rights of individuals within that government. Three examples of an individual’s governing law within American society are constitutional law, statutory law, and common law. Government constantly monitors...
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...SECOND PART ANTITRUST: ECONOMICS, LAW AND POLITICS & REGULATION: LAW, ECONOMICS AND POLITICS Antitrust policy attempts to make companies act in a competitive manner by breaking up companies that are monopolies, prohibiting mergers that would increase market power, and finding and fining companies that collude to establish higher prices. The principal federal statutes are The Sherman Act, The Clayton Act (1914) and The Federal Trade Commission Act (1914). The Sherman Act pertains to the reality of monopoly and restraints of trade and to the process of obtaining or maintaining a monopoly. The Clayton Act goes further by addressing potentially anticompetitive actions. Contains terms such as may be and tent to. The Federal Trade Commission Act goes beyond by prohibiting unfair methods of competition and unfair or deceptive acts. Practices that come under the antivirus laws are classified as horizontal and vertical. A horizontal practice is one that involves activities in the same industry. Vertical practices are those involving firms in a supply arrangement or a channel of distribution. Antitrust Thought The Structural Approach is determined by conduct of market participants, which is largely determined by the structure of the market, such as the number of competitors and barriers to entry. The Chicago School views the objective of antitrust policy as economic efficiency and views competition as the best means of achieving efficiency. Vertical arrangements...
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...Week Four Student Guide This week, you address the concepts of employment and regulatory risk as a means to distinguish between the employee-employer relationship and the associated legal considerations. As an example, you consider legal considerations such as discrimination in the workplace. You also study regulatory compliance issues for an organization, as well as the associated business consequences. The readings focus on workers’ compensation, occupational safety, and other worker protection laws, with a specific attention to the Family and Medical Leave Act. This week also covers the collective bargaining agreements and labor law, as well as several laws and decisions a company must make regarding these labor law issues. In addition, you examine equal opportunity in employment and Title VII, including what comprises this significant law. You review regulatory laws, environmental protection and global warning, as well as antitrust laws and unfair trade practices. The readings focus on introductory concepts and the laws that support these concepts. Employment and Regulatory Risk OBJECTIVE: Differentiate between types of employment relationships and the associated legal considerations. Resources: Ch. 31 & 32 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 31: Employment, Worker Protection, and Immigration Laws o Introduction to Employment, Worker Protection, and Immigration Laws ...
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...No one argues that Wall Street needs reforms after the financial debacle of 2008. But then it has always needed reforming, because it has been in a constant state of evolution for 218 years. And most of that reform was accomplished by Wall Street itself, not government. In the early days of Wall Street the trading that took place there was so limited that little regulation was needed. On Mar. 16, 1830, the New York Stock and Exchange Board--as the New York Stock Exchange was then called--traded a grand total of 31 shares. But the Civil War changed everything. As the national debt soared from $65 million to $2.7 billion, and as the economy expanded enormously to meet wartime needs, Wall Street exploded in size. By 1865 it was second only to London. But regulation was almost nonexistent. New exchanges had sprung to meet the hugely increased trading, and the curb market operated on Broad Street with no regulation whatever. Worse, New York state and city governments were utterly corrupt; an English magazine of the time reported that "in New York there is a custom among litigants as peculiar to that city, it is to be hoped, as it is supreme within it, of retaining a judge as well as a lawyer." When Cornelius Vanderbilt tried to buy enough common stock in the Erie Railway to control the company, members of the Erie board just started printing more and more of it. "If this printing press don't break down," one of the directors said, "I'll be damned if I don't give the old hog all...
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...stakeholders, clients, financial system etc) during our lab sessions. As you can see in the Financial Times article, the LIBOR scandal is in the same league as the Enron and Lehman Brothers fraud cases so you MUST mention this in your paper. If you are not clear on how LIBOR fits in the big puzzle and impacts EVERYONE to the common man on the street, please speak with me in class or ask your groupmates :) If the US definition of one includes Federal Deposit Insurance Commission (FDIC) insured deposits, then by logic, Singapore's encompasses the SDIC insured deposits (Singapore Deposit Insurance Corporation limited to 50,000 sgd introduced in 2011, after the global financial crisis, by who??...it's your job to figure all this out during your group work and explain what the rules and regulations are and how best Victor bank's stakeholders etc should meet their obligations/duties etc etc etc). https://www.sdic.org.sg/ We discussed Singapore's # 1 ranking in offshore Chinese renminbi NDFs and how the latter is essential in trade finance (year 1 core where you learnt for example, the standby letter of credit, a type of guarantee that the bank only pays in the event of default, therefore an item not on the balance sheet but never the less becomes "alive" upon...
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...Week One Student Guide This week introduces you to the fundamental principles of the legal system, the importance of our Constitution, and an analysis of the court system. The readings in this area cover the concepts that define law and the thoughts that help shape jurisprudence along with its history. The Federal Court, Supreme Court, and the jurisdiction of the courts are also covered. Constitutional law is covered from the perspective of business. This week also provides an introduction to the various forms of business. Small businesses, entrepreneurs, and general partnerships are explored. You discuss how a corporation is formed and how it can be financed. Finally, you study limited liability companies and limited partnerships, as well as franchises and special forms of business. This week further introduces you to the concept of alternative dispute resolution as a method for resolving disputes outside traditional litigation. After first looking at the litigation process, you are then introduced to arbitration, negotiation, mediation, conciliation, minitrial, fact-finding, and the use of a judicial referee. The Legal System and the Legal Forms of Business OBJECTIVE: Explain the major components of the legal system. Resources: Ch. 1, 2, & 4 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 1: Legal Heritage and the Information Age o Introduction to Legal Heritage and the Information...
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...rights of consumers (Pride102). Consumer protection was brought upon through several medians, but is primarily attributed to background legislation. The first major federal law to affect the marketing environment was the Sherman Antitrust Act of 1890, which prohibited contracts, combinations, and conspiracies to restrain trade, in an attempt to discourage monopolies (Pride 73). Many federal laws regarding consumer protection have since followed, such as the Wheeler-Lea Act of 1936 and the FTC Act of 1914. Such legislation is generally the work of the Federal Trade Commission, which was created in the aforementioned FTC Act of 1914, and is considered the primary consumer protection agency at the federal level. By the 1950’s the consumerism movement had a substantial following and consumers began pushing for legal protection against malicious business practices. Two of the most well known and significant consumer activists are Ralph Nader and the late John F. Kennedy. Mr. Nader has had a tremendous effect on car safety through the publication of his book Unsafe at Any Speed. President JFK was also a key consumer activist and created The Consumer Bill of Rights. Many corporations and businesses regulate themselves in an attempt to be better corporate citizens and avoid government interference. Likewise, many trade associations have instituted...
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...call at a time calls to computers mass dialing consumers. Robo-calling has decreased the cost to telemarketers while increasing the volume of calls consumers receive. The per minute fees incurred by consumers for telemarketing calls to cellular phones led to many complaints and an increase in the need for a “Do Not Call” law. Consumers had for many years been irritated at telemarketers however the increase in volume of calls along with the new charges paid by consumers for calls to cellular phones increased the need for legislation offering consumers a choice in whether or not to receive telemarketing calls. The Federal Communications Commission in response to consumer complaints enacted the National Do-Not-Call-Registry in 2004. Under the authority of the Telephone Consumer Protection Act the Federal Communication Commission working with the Federal Trade Commission...
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...that have different maturity can, therefore, have different yields regardless of the possibility of future short rates being equivalent to the present short rate. This results in a yield curve that bends upwards even if the short rates are expected to fall if liquidity premiums are sufficiently high. However if the curve slopes downwards and an assumption is made that the liquidity premiums is positive, then we can presume that future short rates would be lower than the present short rate (Lim & Ogaki, 2013). Liquidity premium theory agrees with expectations theory since it gives the same significance to the expected future spot rates though it puts more weight on the impacts of the risk preferences that exist in the market. The main concept of this theory is to compensate an investor for the additional risk of having his capital tied up for a more extended period. It, therefore, aims at enticing investors to engage in long-term investments. Due to the uncertainty associated with long-term rates which have less marketability and greater price variability, investors, therefore, need to be given higher premiums to surrender liquidity (Meiselman, 1962). On the other hand market segmentation theory which is also referred to as habitat, the theory states that different maturity bonds have a market that is segmented and totally separate. A bond with a specified maturity has an interest rate that is determined by the demand and supply for bonds that exist in that segment. This theory...
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...Assignment 3 Privacy: Perspectives, Public Information, and U.S. Legislation Maria A Castro 11/25/2014 IT590 Legal and Ethical Issue in IT Professor Ellen Raineri Kaplan University Table of Contents Abstract 1. Part 1. Explain the Fair Information Practices Act. Compare and contrast the Code of Fair Information Practices with the private sector’s use of information. Is the private sector better at self-policing than the government, or should the government’s rules be extended to include private database ………………………………………………………………………….. 4 Part 2. What are your rights with regards to the information that you post or text? Does your level of privacy increase depending on your network/cell phone provider? The social media site that you are using? Explain.................................................................................................. 6 Part 3. Research legislation related to technology that has been proposed or passed within the last five years. Describe the legislation. Indicate whether it passed, or if it is still in consideration. Then, explain the benefits and drawbacks of the legislation you chose. ………………….. 8 Conclusion Reference Abstract This paper provide an overview of what are the main points of the Fair Information Practice Act, and how this regulations are impacting the use of private and personal information within the digital transmissions. The increase number of user’s texting and sharing information in social networks...
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...consequential losses resulting from the violation. References to "associate" or "associates" in this manual include general principals and financial advisors unless otherwise specified. Such references also include individuals working both in the home office and in a branch office. Please do not keep the printed manual as a reference as it will eventually be out-of-date. Commissions and Sales Background FINRA Rule 2121 requires prices and commissions charged to the client be fair and reasonable. Policy The firm and vendors with whom it has dealer agreements has either set commission amounts or a range of commissions that may be acceptably charged to a client. Individuals may not make any arrangements with clients outside the parameters set by the firm in its commission policy. The Field Supervision department may review commissions charged on a transaction as part of the normal supervisory review process to determine if the commissions charged were fair and reasonable based on all relevant factors. These include but are not limited to: Reason for the transaction or repositioning How commissions charged matched intended and actual holding periods...
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...Sealed Contracting The method of obtaining government contracts has changed considerably. Sealed bidding is less frequently used now than in the past. However, there are certain situations when sealed bidding is mandatory. According to the Federal Acquisition Regulation when preparing sealed bidding invitations must describe the requirements of the Government clearly, accurately, and completely. Unnecessarily restrictive specifications or requirements that might unduly limit the number of bidders are prohibited. The invitation includes all documents (whether attached or incorporated by reference) furnished prospective bidders for the purpose of bidding. As a result government contract practitioners still must familiarize themselves with processes that call for sealed bidding. In the mid-1990s, Congress made several changes to statutes related to processing acquisition of government contracts. Before these congressional amendments sealed bidding was the standard. In most cases sealed bidding is the preferred method for construction , so if the Seahawk helicopters and Cobra aircrafts are being purchased for that type of business it would be a better option. Negotiated Contracting These amendments gave federal contracting officers more opportunities to award contracts through the newer process competitive negotiation. The process begins when the CO issues a Request for Proposals. The RFP must, include the agency’s need, the terms and conditions of the contract and any other...
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...Internet Privacy Abstract As more and more people continue to use the Internet and disclose their personal information, privacy concerns are paramount. Marketing companies are fiercely competing for their share of the booming e-commerce industry estimated at 75 billion dollars in 2010. Government agencies after 9/11 are using personal communications such as e-mail and social networking sites to scrutinize and evaluate potential threats to the United States. Legislation including the Patriot Act has empowered a new generation of public officials with information gathering capabilities on demand. In some cases a court order is not needed to inspect all of a person’s electronic communications. Exploitation of highly sensitive personal information is a reality as companies routinely sell this information to third parties without an individual’s consent. Opting out is a disclaimer written into privacy statements on websites that are often buried in the fine print. Many Americans assume that privacy is included in the operating system they purchase. It is the collating of personal information from multiple data sources on the Internet that remains a key point of contention among those who view privacy as fundamental American right implicit in the Constitution. In this sense, privacy is deeply personal to the dignity and respect of our society. Yet, the relevance of security issues must seek a balance and address the notion of the possibility of abuse. One significant...
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...enforcement can reduce public safety and compound the individual and social costs of drug use. The U.S. drug policy, born over a hundred years ago, has gone through several transformations becoming more voracious with each new invocation. The War on Drugs is an expensive and failed concept which has incorporated racism in its administration, increased crime rates, imposed harsh sentences for nonviolent offenses, facilitated police corruption and aggressively eroded civil liberties. Table of Contents INTRODUCTION Introduction to the Problem Background of the Study Statement of the Problem Purpose of the Research Research Questions Significance of the Research Assumptions and Limitations Organization of the Remainder of the Study LITERATURE REVIEW CONCLUSIONS AND RECOMMENDATIONS Marijuana Legalization: The War on Drugs and Criminal Law INTRODUCTION The United States has conducted a long experiment of drug prohibition. The prohibition of marijuana and other illicit drugs has only increased their use, abuse and availability to children. The drug war has served to increase crime rates and rampant corruption among law enforcement officials. Federal expenditures on drug prohibition enforcement are a drain on the American economy and takes money that could be allocated to other resources. Current drug prohibition laws are helping to create enormous case backlog. This has...
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...® Academy o/ Management Executive. 2004. Vol. 18. No. 2 Business ethics and customer stakeholders O.C. Ferrell A common view of the firm holds that employees, customers, shareholders, and suppliers are key organizational stakeholders.^ While obligations to these stakeholders are sometimes considered to be motivated by organizational self-interest, the ethical perspective asserts the rightness or wrongness of specific firm actions independently of any social or stakeholder obligations.^ Customers are key stakeholders that help establish the firm's reputation and identification. For example, today Procter and Gamble is considered a textbook marketdriven global powerhouse with billion-dollar brands such as Bounty, Olay, Tide, Crest, and Folgers.^ Understanding customer needs and wants and providing customers with high-quality products are the key to the company's success. A market orientation focuses on an understanding of customers' expressed and latent needs and development of superior solutions to the needs.* Such an approach selects to elevate the interests of one stakeholder—the customer—over those of others. another in advertising campaigns, each declared that they provided the 'freshest' ingredients. The matter was taken to court and resolved through civil litigation. The importance of creating customer relationships and creating value for the customer as a part of market orientation should lead to increased performance. This article provides insights on foundations for...
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