...General Duty of Good Faith according to two article the first one written by Drew Hassel back and the second by David Dias, speaks on the obligations between parties and on keeping the good faith and honesty while conducting business. In the first article written by Drew Hassel he touches upon the case and its ruling in favor for Harish Bhasin who had signed a three-year enrolment director agreement with Can-Am to help develop Can-Am's registered education saving plans. After Harish Bhasin business as well as Can-Am started to become successful, Larry Hrynew who worked for Can-Am started perusing Bhasin to merge both business together. After Bhasin refused, it started to create tension between the business relationship they had. After many...
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...Marketing Strategy and faith integration: James n. Cassell October 26, 2014 “When he returned, having received the kingdom, he ordered these servants to whom he had Given money to be called to him that he might know what they have gained by doing business” (Luke 19:15). Character is a combination of a person’s ethical and moral qualities, and can some Times are seen in the way we approach problems and make decisions in business. As business Leaders the decisions we make can affect the lives of thousands of customers on a local and Global level. As business decision makers, we have to incorporate our faith and believes as in all of our decision-making. There are many examples that the bible have given us To show how God would want us to conduct ourselves in business, being fair and still earning an honest profit. The scripture tell us that “But the fruit of the spirit is love, joy, peace, patience, kindness, goodness, and faithfulness. (Galatians 5:22). There are many ways we could be misled and perform in an ungodly way when setting and implementing marketing strategies. False advertising and promotions is one way we could mislead our customers. “You shall not oppress your neighbor, nor rob him. The wages of a hired man are not to Remain with you all night until morning” (Leviticus 19:13). God intended us to live decent and Caring lives. To maintain longevity and prosper as a...
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...Faith-Full Leadership, Ethics and Accountability: Using the work of Moses Pava to enforce the need for moral leadership and governance The general rationale of this paper is quite simple: moral leadership and moral governance matters. It has taken me the entire semester and the detailed reading of the book, Leading With Meaning: Using Covenantal Leadership to Build a Better Organization by Moses Pava (2003) to help me make the solid connection between operational (structural) governance and moral/ethical governance. If the reader of this paper is an enlightened, educated academic, this point may not have a significant impact. On the other hand, if the reader is a “typical” lay practitioner, the point of this paper, supported by evidence provided by Pava (and the other cited resources) might offer a deep and long lasting influence which could possibly change how the reader thinks and acts in matters related to organizational leadership and governance. I was able to make many connections between the Pava text and the Sison (2008) text that helped me better understand how Sison is interpreting Aristotle in today’s complex global business world. I have cited several of these cases to help the reader make a solid connection between structure, intent morality, ethics, accountability and corporate motives. I typically use colored “flags” to note important points and passages in a book I am reading for meaning. After reading the Pava (2003) text, I looked back and saw over fifty...
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...Certain business decisions by a board of directors come under judicial scrutiny such as: directors acting to oppose a hostile bid for corporate control, directors responding to a tender offer and proxy contest, and when a corporate board decides to sell the corporation for cash 18B Am. Jur. 2d Corporations §1459. Majority of corporations are incorporated under the state of Delaware’s laws making those cases crucial to how business interacts with the law. The board of directors not only have to prove the good faith of the transaction but also to show its inherent fairness from the viewpoint of the corporation and those interested therein when making business decisions Zahn v. Transamerica Corp., 162 F.2d 36, 42 (1947). “Delaware has three...
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...would continue doing business with Marshall as long as we come to an agreement on a new contract. This understanding will provide us clarity on this partnership we are going to continue to have while doing business. Marshall is a good person and I would like to see his company continue to flourish as well as his spirituality. However if Marshall does not agree with the terms of a new contract business between us will cease. There are risks involved with discontinuing business with Marshall as he may file a lawsuit against me for various reasons. If it comes to that some legal defense I may have include; covenants of good faith, minor’s capacity to contract and fraud in the execution of a contract. First I would like to explore covenants of Good faith. Going into this deal with Marshall it began based off covenants of good faith and fair dealings. Per what we verbally discussed I would supply Marshall with a scheduled quantity of product. Since making that verbal agreement, I have consistently supplied Marshall with the products we have agreed upon on time. However Marshall has been habitually late with payments and even though I could impose fees as stated per the invoices sent, I have not. By Marshall trying to force me into a contract this could potentially hinder the performance of my company. Due to the demand of my new contract this will cause several components to restructure within the company. As stated in The Implied Covenant of ‘Good Faith’, “the covenant of...
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...Ethical Problems in Business MBA 624 Brian Bovbjerg Professor Dione Talkington Fletcher Belhaven University May 8, 2012 Faith That Works Larry Ruddell, proposes the question “Now what about you? What do you believe?”(Ruddell, pg.41). I believe in the founding principle of our country, in God we trust. In the world of business, as with every other aspect of our lives, we have the opportunity to make a choice. A choice to follow God’s will, or a choice to go against his teachings, keeping in mind that no matter what the plans we may have, the purpose of the Lord will always stand (Proverbs 19:21). Ruddell describes these views as Christ the Transformer of Business Culture, Christ Above Business Culture, and Christ Against the Business Culture. Each of these views portrays a different choice that each of us can make as we take part in our place of business. As we make our decisions, we should always remember that as much as we can I believe that as Christians we should all be Christ the Transformers of Business Culture. By choosing to be a transformer, we stand firm against the worldly theory of ‘business is business,’ which is often portrayed by those with the Christ of Business Culture View. In order to transform others, we need to believe in sharing our faith by example, and not falling into worldly beliefs and activities of those around us. The Christ the transformer of Business Culture view tells us that we should hold high to our standards in the workplace...
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...Orissa Stewart Liberty University Business 530, Faith Integration Ethics and business is a practice that most businesses follow, although ethical and moral issue is a debated issue. Ethical and moral issues extend far beyond on treating others in a certain way. It begins with a belief system and faith in God. Once a person develops a relationship with God, they usually change for the better. In addition, the words ethics and morality in religion and theology may have been the cause for academia in the field of finance and economics which stray’s away from identifying ethical and moral considerations in the practice of finance and economics (Gupta, Rakesh, & Sukumaran, 2013). Unfortunately, if you are a Christian in the business world then the possibility of compromising your faith increases from even the smallest decisions such as prayer in the workplace. Whatever the case, there are numerous opportunities to compromise faith when it comes to business ethics. Christians need to be aware of this weakness and fight becomes hard to stand firm. According to authors Gupta, Rakesh, Sukumaran, and Aswini (2013), Ethics and morality in finance, discusses the issue of ethics and morality in finance that extends to accounting in the area of marketing. Regardless if you work for yourself or someone else Christians will face the time when they have to make decisions that can affect the way their walk in Christian faith at work. Mark 7:20-22 (ESV) And he said...
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...approached by her friend Bob, requesting a loan to start a new airline business. Bob has determined that he would require a loan of $300,000.00 to begin this venture. Bob plans to use the planes he intends to purchase as collateral for the loan. Joan researches Bob’s background and identifies that he has worked in the industry for 12 years and was able to show an increase in regional sales by 28%. Based on this research and Joan’s personal friendship with Bob, Joan recommends that ManBank provide the full loan amount. The loan is granted and Bob begins his business. Within 3 years, Bob’s business goes bankrupt and the bank is only able to recover one half of the loan amount upon the sale of Bob’s planes. The bank is now responsible for a debt of $150,000.00 that they will not be able to recover. Due to this debt, the shareholders of ManBank file a derivative lawsuit against Joan for breach of her fiduciary duty of care. The issue is to determine if Joan’s conduct is protected under the Business Judgment Rule (herein referred to as, BJR), thus, determining if Joan should be held liable for the company’s debt. As outlined in the NPC courseware, the Business Judgment Rule does not provide for a distinct definition. It is a principle that it utilized by the courts in multiple applications and translations. Essentially, the BJR is a corporate protection for directors and officers of a firm who act in good faith and make prudent decisions on behalf of such firm; whereby, these...
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...Outreach Ministry Volunteer Application |Contact Information | | | |Full Name: | | |Street Address/Apt.: | | |City ST ZIP Code: | | |Years Lived at this address: | | If less than 5 years list previous address(s) on back page. | |Home Phone: | | |Cell Phone: | | |E-Mail Address: | | |Confidential Background Check Information | |The information below...
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...reporter that he never regretted helping out his friend because during that time he met Jeannette McNeil who he would later marry. In 1933, at age 12, Cathy earned a newspaper route of his very own and continued his route into 1941. Davis and Lucas (2007) quote Cathy as saying “It was during that time that I learned the importance of taking care of the customers. You put the paper behind the screen door, keep the dog from chewing it up, [and] put it up on the rocking chair.” Cathy’s goals were to sign up and keep customers happy, all while earning a profit. This experience allowed him to see what he was going to do in his adult life. In his words (Cathy, 2002, p. 31) “My success with the paper route convinced me that I would one day open a business of my own, most likely a service station, grocery store or restaurant.” Cathy won many awards for signing up customers for The Atlanta Journal Newspaper. There were two other childhood experiences that were major influences on Cathy. One of those experiences involved his Sunday school teacher, Theo Abbey, who would fill a void that Cathy disparately needed filled. Cathy’s father, although a good man, did not fulfill Cathy’s need for attention and love as Cathy states in his book, “My Sunday school teacher recognized somehow that I had a father who never told me he loved me…. I think he sensed my isolation because he reached out to me and became a model of the loving and caring father…. Through his teaching, Mr. Abbey gave me a better understanding...
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...heard people state something that they hold valuable, and when they try to achieve it, they realize that they really don’t believe in it. We can energize our lives by making the full effort to implement the values we subscribe to. Once we identify values that are meaningful to us, we can develop strategies to implement them. When we make the determined effort to implement those strategies; new opportunities, new sources of revenue and income, and other forms of material and psychological benefit may follow. We will examine four values that we believe are significant to our lives and how we came to acquire them. We will discuss their development, and how they will impact our future business career, as well as our own personal lives. The following are the values that we believe in: courage, faith, family and patience. They have guided the decisions we have made in the past, the ones that we face now and in the future. There have been many...
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...non-Christian cultures are included that have different and more complex requirements. Christian culture dominates the American workplace and business and has since American’s colonial beginnings. Religious groups that enjoyed the highest standing during America's colonial period are still favorably positioned in the religious hierarchy. Studies in the 1990s show that Americans are much more likely to claim affiliation with groups ascendant during the colonial period (Episcopalians, Presbyterians, Quakers, and members of the United Church of Christ) than one would expect based on the representation of these groups in the general population (Davidson, 2003). Muslims have required times of prayer during the day and people of the Jewish faith are required to not work on Saturday to honor the Sabbath (Stern, 2011). Just these two examples have flown directly in the face of much of business schedules and practices in the past, and have required people who hold to these faiths to choose between their job and their religious beliefs. Business did not recognize the benefits of employing different faith paradigms as most business did not have an international component to it other than the occasional supplier of goods. Today, religion has asserted its place in the workplace through anti-discrimination laws and current human resources practices and policies. Business has...
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...Business Law and Bankruptcy Assignment 3 1. Joan’s conduct is protected by the business judgment rule, because it’s a legal principle that makes officers, directors, managers, and other agents of the corporation immune form liability to the corporation for the loss incurred in corporate transactions that are within their authority and power to make when sufficient evidence demonstrates that the transactions were made in good faith. 2. Joan recommends that ManBant give Bob a $300 million loan to start a new airline which is to be collateralized by the airplanes owned by Bob’s new airline. The board accepts her recommendation and gives Bob the loan. Unfortunately, when Bob does a poor job and his airline goes bankrupt. When Bob defaults on the loan, the bank is only able to recover $150 million. The shareholders bring a derivative lawsuit against Joan for breach of her fiduciary duty of care. How likely is the derivative action against Joan to succeed? Rule: The standard by which decisions of a board of directors of a business are to be reviewed by the courts is known as the business judgment rule. The business judgment rule provides that a board of members action is protected from challenge if there is a good business justification for the decision and it isn’t fraudulent or an abuse of discretion. When the business judgment rule is applied, the burden of proof to establish the impropriety of the decision is on those challenging it. In the case United States...
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...Discussion Board Forum 2: Contracts BUSI561 – Legal Issues in Business November 10, 2013 Analysis of the Situation Let me begin by assessing the current situation and relationship with Don. Don and I met because of our individual desires to walk with Christ. We developed our friendship that eventually evolved to a business relationship; we are both small business owners. Our business venture started under favorable circumstances consistent with implied duty of faith and fair dealings. According to Kubasek, Brennan, &Browne (2012), an implied contract is formed by conduct of involved parties rather than written or spoken words. That was exactly the case between us. Don would place routine orders and would generally pay all invoices due within 45-60 days. I continue to supply him with my product [Scuppernong grapes] at consistent prices. The situation appeared to be mutually beneficial. Just recently, my product started to gain popularity that resulted to increased demand far in excess of my ability to supply. A company in Connecticut presented an extremely advantageous offer. After contacting Don to inform him of the circumstances, I was informed that my 17-year-old son who is a part-time deliveryman signed a requirements contract on behalf of my company. Neither my son nor Don had mentioned the existence of the contract before. Identifying Present Issues Based on recent developments, my company is facing several pressing issues. I have one current and...
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...1. How does the biological tree dispose to make ethical decision in business. Cite one specific example. Discuss briefly. As one specific example on how does my biological tree dispose me to choose what is right and good in business is the influence they impacted that if I bring honor and glory to the family the more they will boost you and be proud of as one of the family members. The culture of the Filipino is close family ties that if we became unethical or doing bad in the business the family will not support you but if we choose to do good and be ethical, family will support you and will extend help when troubles came. The influence of my family is very important to me that way I showed them how much I value them in my life by not bring them disgrace of anything that will harm or threatened the family reputations. My ancestors really value the reputation that we have and what people might say in our family this influence lead me to give importance in this aspect. My family who is a devoted Christians and followers of Christ impact a lot in my ethical decisions. They taught me to follow and obey God that will gratify Him in a manner that will bring glory to His name. Offering to God all the things that I’ve done and bring sweet aroma to Him through this unethical decision is not an issue anymore. My accountability to God which my biological tree influences and instills in my heart helps me to choose to do what is right and good and pleasing to the sight of God. And whatever...
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