...Fundamentals of Business Law and Ethics Course of Study Your competence will be assessed as you complete the LWC1 objective assessment for this course of study. This course of study may take up to 10 weeks to complete. Introduction Overview There are the two major subdomains of study within the Fundamentals of Business Law and Ethics Course of Study: business law and business ethics. The exam covers 11 business law and ethics concepts, including the following: contractual relationship government regulation of business dispute resolution labor and employment law hiring and employment practices warranties, negligence, and liabilities Sarbanes-Oxley Act ethical issues in business ethical leadership ethics programs use of company resources You likely have had some experience with the legal system, either through your own encounters or merely through listening to the nightly news, and you have probably read or heard about various ethical and legal issues causing financial upheaval in today's business world. This background will serve you well in this study. Now you can expand on that experience, and perhaps refine and enhance your own views on these issues. Once you complete this course of study, you will have demonstrated a level of competence that you can immediately use in your work setting and career. Outcomes and Evaluation There are 10 competencies covered by this course of study; they are listed in the "Competencies for Fundamentals of Business Law and Ethics (LWC1) " page...
Words: 8481 - Pages: 34
...Legal Underpinnings of Business Law Shawn Akey BUS670 Dr. Callaway September 22, 2014 Legal Underpinnings of Business Law During this week, the reading talked about the foundations of business law, including constitutional law as it applies to business, and a comparison of several common business organizational forms. Additionally, various ethical theories were introduced in order to provide perspective to various business outcomes. This paper will deliberate over a scenario raised during the course, concerning a case study on the Tinker & Tailor Home Security Service business and their current legal issues. Along with discussing the scenario, an explanation of each facet of it, as well as provide examples of each as they pertain to the real world will be included. The scenario focused on in this discussion is the creation of a matrix that lists each business, and compares and contrast personal liability exposure as an owner as a result of the lawsuit. For each business entity, analyze how the liability exposure might be limited as an owner. Examine the best business organizational form for the business that might be owned someday in a personal manner. The overall goal will be to show that through the proper manipulation of various legal aspects, exposure to and protection from legal suit can be minimized. The following quote from Jack Kingston sets the stage for the discussion on legal woes of the Tinker & Tailor Home Security business, “Frivolous lawsuits are...
Words: 2442 - Pages: 10
...deeper into the agencies affairs and increasing the spectre of charges against directors, board members and senior staff. Criminal Law Healthway’s directors, board members and senior staff members may face criminal charges for breaching their duties and codes of conduct, as the CCC’s investigation into the agencies affairs intensifies. Allegedly according to a Public Sector Commission report, Healthway grossly misused public funds in the procurement of thousands of tickets worth hundreds of thousand dollars, which in turn flawed to board members, senior staff and directors’ family...
Words: 1151 - Pages: 5
...1) In 1973, Bobbette Lacks and Gardenias’ brother in law were meeting in the dining room of Gardenia’s row house in Washington, DC. The two began conversing and soon found out that Gardenia’s brother-in-law worked at the hospital that, unbeknownst to the Lacks family, housed Henrietta’s cells and was using them for cancer experiments. Later in the chapter at Yale University, researchers from Hopkins meet and discussed a contamination problem that manifested with the Henrietta Lacks Cells “HeLa,” Their solution is to ask the Lacks family for DNA/ cell samples to create and map of Hela cells. The lacks family is unaware that research has been ongoing with Henrietta’s cells and the only reason they need the family’s cells is to stop the cross...
Words: 787 - Pages: 4
...increase and its effect on LI activities at its construction sites in Paramin and Biche respectively. After that meeting, JLL submitted a revised contract with the new pricing arrangement. LI accepted deliveries of the lumber planks from JLL, which reflected the new pricing arrangement of $120 but paid the initial contract sum of $100 per plank and as such, LI was in arrears to JLL. LI is adamant that they have a binding arrangement with JLL for two years ending 25th May 2016 to purchase lumber planks at $100 and JLL subsequent contractual arrangement in April 2015 failed for want of consideration. The Lawyers for LI has indicated that JLL is already obligated to sell at $100 per plank before the new contractual arrangement in April 2015 to sell at $120. Lightwood Industries (LI) is owned by Mr Lightwood, who is a friend of the family. He is aware that you are currently pursuing Business Law at UWI Open Campus and sought you advice on the issue. Please advise Mr...
Words: 1154 - Pages: 5
...Business Torts Issue Spotter Essay Emmy V. MedK Corp. MedK Corp. faces potential liability for the tort of Contractual Interference/Tortious Interference with Contractual Relations. Contractual Interference occurs when parties are not allowed the freedom to contract without interference from third party. Tortious Interference is that someone intentionally persuades another to break a contract already in existence. Here, MedK Corp. may be liable for Contractual Interference/Tortious Interference with Contractual Relations if sued by Emmy. Med K signed a contract under which Emmy’s company was to provide exclusive device delivery and in-home instruction through doctors to MedK Clients. The only two people who knew about the contract with MedK was Emmy and Rita. After Emmy starts seeing decrease in sales from MedK, Darrell, the CEO, admitted to Emmy, that Rita had been soliciting MedK and had been encouraging Darrell to slowly phase out the volume of referrals to Emmy’s company and transfer them to Rita’s new company. Darrell said that he would pay Emmy what she was owned, but would not honor the contract in full. Therefore, MedK is likely liable for Contractual Interference/Tortious Interference with Contractual Relations. Emmy V. Rita Rita faces potential liability for the tort of Contractual Interference/Tortious Interference with Contractual Relations. Contractual Interference occurs when parties are not allowed the freedom to contract without interference from...
Words: 1232 - Pages: 5
...ASSIGNMENT COVER SHEET This form must be filled in correctly and securely stapled to your assignment or it may not reach your lecturer Circle Program Enrolled | C4TP | Dip Arts | Dip Bus | Dip Tech IT | Dip Tech EE | Dip Health Sc | Assoc. Degree | COURSE NAME: Business Law LECTURER'S NAME: Mardi Szantyr ASSIGNMENT NO./TITLE: Assignment 2 DUE DATE: 1 MAY DATE RECEIVED STUDENT ID NUMBER | 110164786 | FAMILY NAME | He | GIVEN NAME | Shan | ------------------------------------------------- * If a group assignment a cover sheet must be completed by each member ------------------------------------------------- ------------------------------------------------- I declare the following to be my work as understood by the University’s Policy on Plagiarism, unless otherwise cited. ------------------------------------------------- I authorise SAIBT to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor copying my work and storing it on a database to be used in future to test work submitted by others. I understand that I can obtain further information on this matter at: http://www.unisanet.unisa.edu.au/learningconnection/student/studying/integrity.asp ------------------------------------------------- ------------------------------------------------- SIGNED: __________________________________ ...
Words: 1177 - Pages: 5
...Issues in PPQ Part’s Expansion Plan Student’s Name Course No Course Name University Name Instructor’s Name Date Host Foreign Country’s Concern in Expansion Plan Foreign nations faces various obstacles in adoption of new business ranging from infrastructural issues of technological advancement, network problem, lack of skilled resources, etc; investment issues in inter-organization communication, network establishment, etc; security and privacy issues of customer information in transaction; government regulations for legal protection of consumer rights; logistics issues of distribution; lack of physical and social interaction in virtual environment for purchase; and returning policy of traders (OECD, 2004). Although infrastructure and deregulation governs the success of commerce, transactional trust is mandatory for encouraging the participants to pursue the shopping from foreign firms (Oxley & Yeung, 2001). Socio-cultural characteristics of these countries also raises concern of institutional trust in the new business as substitute for social milieu lacking in personal touch or localization of product (Efendioglu, Yip, & Murray, 2004). Temporal and spatial separation requires radical shift in consumer pattern to create trust between parties involved in transaction occurring in trading based on agreed contract. Delivery of products to the increasing number of customers in new system brings challenges for seller to keep the promises of order fulfillment...
Words: 2164 - Pages: 9
...ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS Unit code 6 STUDENT NAME CALIN ZIMBRAN Student ID: p1002572 London 2013 Contents The essential elements of a valid contract in a business context 2 The impact of different types of contract 3 Terms in contracts 4 Elements of contract in given business scenarios 4 Law on terms in different contracts 5 Effect of different terms in given contracts 6 Liability in tort vs. contractual liability 6 Nature of liability in negligence 7 Vicarious liability 7 Elements of the tort of negligence and defences in different business situations 7 Elements of vicarious liability in given business situations 8 References: 8 The essential elements of a valid contract in a business context There are 4 essential elements necessary to form a valid and legally binding contract: 1. Agreement, which means offer and acceptance (notice that even though we put in the same category, they should be treated as two separate entities); 2. Consideration; 3. Intention (to create a legal relation); 4. Capacity. Even though we have 5 elements, which must all occur in order to generate a contract, the most relevant and the main indicator of a potential legally binding contract are the offer and the acceptance. This step can be long and difficult but once it comes to a conclusion, steps 2 to 4 can occur at the same time. The offer An offer expresses the strong will of a person making the offer (the offeror)...
Words: 2676 - Pages: 11
...Hnbs 105 Contract and Negligence Marc Forteau Inder birdi 24/06/2014 Advice to situation A: Joel This is a unilateral contract where Shrubs Only have an obligation the set the conditions, which are that they require cash on delivery, rejected plants to return with the driver, written orders only and will supply through other American plants with offices in London (Burton, 2009). Condensing they have never worked with Joel, the main feature of the contract is that there is a lawful consideration where the conditions are coming from the suppliers. The impact this will have will be the fact that he will build trust with them and in the long run, they could adjust the terms of the contract to allow credit. My advice would be to amend the contract in the presence of the two parties. Advice to situation B: Green Colour The idea that Shrubs only wants to use second grade suppliers without notifying Green Colour shows and example of implied terms which Shrubs only fails to mention to Green Colour, but will include it in the execution of the contract. For this, since Don preferred quality flowers, it will result to the rectification of the contract to erase this clause so as to ensure the company is able to supply quality at all the time. However, there could be the application of Parol evidence where Shrub Only can explain this phase and provide a reason for why they want to change the quality supply. Advice to situation C: Joel ...
Words: 1433 - Pages: 6
...CENTRE FOR EUROPEAN POLICY STUDIES REGULATING E-COMMERCE IN FINANCIAL SERVICES REPORT OF A JOINT CEPS/ECRI WORKING PARTY C H A I R M A N: TI M J O N E S C H I E F E X E C U T I V E, P U R S E U S R A P P O R T E U R: NURIA DI E Z GU A R D I A FORMER R ESEARCH FE L L O W , CEPS OCTOBER 2001 This report contains the conclusions and policy recommendations that follow from the discussion and analytical presentations that took place at the meetings of the joint CEPS/ECRI Working Party. The members of the Working Party participated in extensive debate and submitted comments on earlier drafts of the report. Its contents contain the general tone and direction of the discussion, but its recommendations do not necessarily reflect a full common position reached among all members of the Working Party, nor do they necessarily represent the views of the institutions to which the members belong. A list of participants and invited guests and speakers appears at the end of the report. This Working Party was chaired by Tim Jones, Chief Executive at Purseus and former Chief Executive of Retail Banking at NatWest, London. Nuria Diez Guardia served as Rapporteur for the Working Party while a Research Fellow at CEPS. Amparo San José and Alfredo Sousa greatly contributed to the drafting of Parts I and II of the final report, respectively. ISBN 92-9079-349-X © Copyright 2001, Centre for European Policy Studies. All rights reserved. No part of this publication...
Words: 15349 - Pages: 62
...Laws 310 Becoming Global Jose Rivera Professor Jennifer Stephens Devry University November 28, 2015 Introduction The client Gloria Smithson has successfully started and grown her business. Gloria has been manufacturing widgets in the United States and has ran into a slight issue. The cost of raw materials has increased by two hundred percent with her current supplier and is looking for other options. Gloria has found a new supplier, Greenleaf Manufacturing, which is willing to negotiate with her. On the same note Gloria has been considering an overseas manufacturer, and has met with manufacturers in Brazil and China who have submitted a proposal as well. Gloria has been selling approximately 12,000,000 widgets per year. She also recently received a purchase order from a large retailer for 8,000,000 widgets and a guarantee for a minimum of 13,000,000 widgets over the next two years. The purchase order stated that continued business is dependent on paying no more than $7.34 per widget. In order to figure out the best option for Gloria we have to determine what her cost, sales price and profit would be. Gloria’s current cost to manufacture widgets is $6.22 and her sales price is $9.18. Gloria’s current profit per widget is $2.96. Fulfilling this and future purchase orders with this large retailer will take Gloria’s business to the next level, but to do that she will have to get her manufacturing cost...
Words: 1302 - Pages: 6
...Robert Brigss filed an action to void the oral contract as in violation of the Statute of Frauds and evict the Sacketts from the house. The applicable issue in this case is contracts involving interests in real property; because according to the statute of frauds any contract that transfers an ownership interest in real property must be in writing to be enforceable (Cheeseman p 220). The Sacketts family only had an oral agreement for the sale of the home that by itself alone it is not sufficient to proof that they own the property, but there is an exception to the rule that it is known as the part performance rule, that allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed and performance is necessary to avoid injustice (Cheeseman p. 224). Thus giving the case in favor to the Sacketts because they have been making the payments for 15 years, which provides that they are in compliance with the part performance rule; without a written contract the house still belongs to the Sacketts. Cheeseman, Henry R. (2010). Business Law: Legal Environment Online Commerce, Business Ethics and International Issues. (Seven Edition) New Jersey, NJ. Pearson Prentice Hall Case 16.10 Intentional interference with contractual relations Pacific Gas and Electric Company (PGEC) v Bear Stearns & company deals with a long term agreement between PGEC and Placer County Water Agency...
Words: 1203 - Pages: 5
...Issue 1: Is there a contract between Leslie and her aunt and uncle? To determine whether there is contractual obligation between Leslie and her aunt and uncle, we should go through the four requirements to form a contract: 1. Offer: one party (“offeror”) must offer (verbally, in writing, or by conduct) to make a contract and specify all of the key terms. In the case, Leslie’s aunt and uncle first suggested Leslie buy the business, which is an electronics store. However, there was a “counter offer”, which is that offeree rejects the original offer and accepts a new offer before making final contract. Initially, her aunt and uncle planned to sell the business at $ 300,000. But Leslie did not accept it and insisted on buying at the fair value price $400,000. This means that she rejected the original offer, and made a counter-offer to them. Yet, as her financial ability is not strong enough to buy the business at once, her aunt and uncle suggested that they would like to receive $150,000 for now and collect the rest of money later. Thus, this is another new counter-offer to Leslie. Additionally, all the offers are made verbally without any written agreements, but it is still enforceable if it meets the other three requirements that we will discuss in the following parts. 2. Acceptance: other party (“offeree”) must accept that offer, on those terms, without any changes. At last, Leslie accepted the counter-offer that pay $150,000 for now, and with either half of profits going...
Words: 4372 - Pages: 18
...BUSI 2601 BUSINESS LAW Maven House Press Booking Publishing Agreement Analysis Nov 2, 2015 Yuxuan Tang Student ID 100949179 CONTENT Part I - Executive Summary 2 Part II – Objectives, Methodology, Ethic issues and Relationships 3 Part III – The Clauses 6 Part IV – The Notions and Principles 20 Part V – Recommendation and Lessons learned....................................................29 Part VI – Legal Corrective Measures with Provisions............................................31 – Part I. Executive Summary Law is an artificial tool that governs an individual’s daily behavior. It outlines the right and wrongs of each individual and governs their conduct. The law can protect people’s basic rights and prevents people from choosing the wrong path and impose penalties to people who bring harm upon others. It is a solution to many disputes and complications. People may also fall into a dilemma when relationships are involved, law can help people leave their relationship aside and deal with their current situation and come up with a fair judgment. A contract is, “a deliberate and complete agreement between two or more competent people, not necessarily in writing, supported by mutual consideration, to do some act voluntarily that is enforceable in a court of law”[1]. This report provides an analysis of the publishing agreement between an author and a publisher...
Words: 8607 - Pages: 35
