...In this document of LAW 421 Week 4 Big Time Toymaker you will find the next information: Read the “Theory to Practice” section at the end of Ch. 6 of the text. Answer Questions 1 through 6 based on the scenario in the “Theory to Practice” section, and complete the following in your response: At what point, if ever, did the parties have a contract? What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? What role does the statute of frauds play in this contract? Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided? Assuming, arguendo, that this e-mail does constitute an agreement, what consideration supports this agreement? At the conclusion of the case, BTT declares that it's not thinking about distributing Chou’s new strategy game, Strat. Presuming BTT and Chou have got a deal, and BTT has breached the agreement by not distributing the game, discuss what remedies may or may not apply. General Questions - General General Questions Read the “Theory to Practice” section at the end of Ch. 6 of the text. Answer Questions 1 through 6 based on the scenario in the “Theory...
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...University of Phoenix Material Article Review Format Guide MEMORANDUM UNIVERSITY OF PHOENIX DATE: 8/26/2014 TO: Jon Croasmun FROM: RE: Sarbanes-Oxley Act: Was the “one-size-fits-all” approach justified? http://dx.doi.org/10.1002/jcaf.20691 ARTICLE SYNOPSIS In your own words, summarize the article. This article talks about whether or not the Sarbanes-Oxley Act and the laws that came along with it were the right solutions for the issues that came out of the WorldCom and Enron bankruptcies. It discusses how different sized businesses are affected by different rules and legislature and the outcomes that arose in which different companies would have to follow because of the SOX act. The author of this article did studies on if fraud of the financial statements had anything do with businesses filing for bankruptcy, this being the case with WorldCom and Enron. The author concluded that the bigger the company that filed, it was more likely general overstatement and fraud litigation occurred. LEGAL ISSUE In 1 to 3 sentences, identify the legal business issues raised in the article. Legal issues were everywhere in this article. One example with the Sarbanes-Oxley Act of 2002 going into place, Companies could choose to no longer be publically traded just so that they didn’t have to follow the SOX act. This article also explains whether or not it is right to make smaller companies adhere to the same rules and regulations as the larger companies...
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...Article Review Sarbanes-Oxley Act (SOX Act) of 2002 - 421/LAW October 21, 2015 How Does the Sarbanes-Oxley Act of 2002 Affect Small Business Owners? (Chron, 2015) Article Synopsis Senator Paul Sarbanes and Representative Michael Oxley proposed the Act to toughen corporate liability, prevent scandalous fraud, and to protect company investors. Companies would go broke soon after showing and reporting that their financial reports were sound and company is in good standings. An example would be Enron. Knowingly gave incorrect financial numbers on their transactions information to the government auditors to hide huge losses. Congress passed the Sarbanes-Oxley Act following corporate scandals to make companies accountable for their financial records (Chron, 2015). The Sarbanes-Oxley Act would magnify management's judgement about full disclosure and ethical practices by making them more aware of the possible outcomes should they be less than honest or fail to maintain compliance. The Sarbanes-Oxley Act holds executive and financial officers of a company answerable for the financial information they provide. When there is a change in the finances of a company, they must report the changes right away. They are not to wait until the next financial report. Companies large and small are required to report specific fiscal information, and procedures to ensure all financial records are legal. All public companies, large and small have to follow Sarbanes-Oxley Act. While large...
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...University of Phoenix Material Article Review Format Guide MEMORANDUM UNIVERSITY OF PHOENIX DATE: June 2, 2015 TO: James Crossen FROM: Joshua Parrott RE: Niskanen, W. A. (2006). Congress Should Repeal the Sarbanes-Oxley Act. Retrieved from http://www.cato.org/pub_display.php?pub_id=6624 ARTICLE SYNOPSIS This article was a proposal that really tried to give a good reason for that congress should reverse the Sarbanes-Oxley Act (SOX Act) of 2002. This act is seems like it's a problem because people felt that this act was only in place so government (people in charge of something) could feel better when dealing with some of the issues of popular concern ratherthan resolving the issue. According to Niskanen the SOX act of 2002 is unnecessary, harmful, and inadequate (2006). Punishments under this act included jail time and loss of personal property. This act was viewed as unnecessary because the stock exchange has already talked to/looked atand put into use procedures to deal most problems presented in the SOX act of 2002. Those uses include accounting standards, audits, prosecution for illegal dishonesty related to managing money and reporting procedures. Officials felt that both acts addressed the same issues therefore, congress should deem the SOX act of 2002 unnecessary. The SOX act of 2002 was viewed as harmful because it would “reduce the incentive of corporate executives and directors to seek legal advice” (Niskanen, 2006). It was...
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...LAW 421 Final Exam The LAW 421 Final Exam deals with basics of law and the methods in which it could play a role in the life of a common person. We have worked towards making the students comprehend the meaning of law in easy terms. There is a widespread negative notion among the masses that the concepts related to law are like alien language for the commoners of the society. The LAW 421 Final Exam throws light upon some of the most significant ideologies of the law world. The questions are strategically framed to bring out the major theme of the topic. For example, the role rendered by the hearing officer is an extremely minute, but essential concept that should be primarily known to the students of law. In addition, the LAW 421 Final Exam is beneficial for the students to learn the application of the numerous laws that are framed by the constitution with the help of sufficient practical examples. It encourages the students to think critically and make appropriate decisions. Many questions are framed in such a manner that the students may consider them to be in the place of a judge, or lawyer to present the final verdict regarding a case, and thereby take appropriate decisions. How to Answer? We have also worked hard upon framing the appropriate LAW 421 Final Exam Answers for the students. The answers to the multiple choice questions are drafted in a manner that the students instead of getting confused among the options, spot the correct answer by understanding the concept...
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...LAW 421 Final Exam Are you preparing for Law 421 Final Exam? Do you feel that you are not polished enough to pass the first time out? Are you confused about the question pattern? If you are going to pay attention to the bellow information, you will have a clear change of succeeding. As Michael Jorden said “If you're trying to achieve, there will be roadblocks. I've had them; everybody has had them. But obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it.” And here we will help you out to figure out everything that would help you to cross any hurdle of this exam. To be true the test isn’t tough enough if you prepare yourself from the beginning. Law 421 is an essential part of the higher education and to gain good grades one has to put it some efforts. With our help you won’t go through any hassle and headache that other’s goes through when this exam comes knocking, Preparation is everything, and with our courses and strategies you would have a good chance to top whenever you take Law 421 final exam. Review Our Course Work and Notes The first thing that you would want to do is to review all coursework. Here we provide you with the entire course of Law 421 final exam. All in separate weeks. The role rendered by the hearing officer is an extremely minute, but essential concept that should be primarily known to the students. In addition, the LAW 421 Final Exam is beneficial for the...
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...LAW/421 Version 1 Contemporary Business Law Click Here To Download Week One: Introduction to Law Participation Participate in class discussions and respond to weekly discussion questions. DQs due days 2, 4 and 5 7 Individual Role and Functions of Law Paper Resource: Case Brief Cipollone v. Liggett Group, Inc., et al. in Ch. 2, section 2-6, “Commerce Powers,” of the text Write a 700- to 1,050-word paper in which you define the functions and role of law in business and society. The Cipollone case merely illustrates some of the functions and roles of law in business; your paper should not be a discussion of that case. You can cite to that case only as needed to exemplify some point you are making. Discuss the functions and role of law in your past or present job or industry. What is the most important Constitutional provision to business law? Properly cite at least two references from two different sources. Format your paper consistent with APA guidelines. Day 7 11 Individual Bio Post your bio in the body of a message in the chat room. Week Two: Torts Participation Participate in class discussion and respond to weekly discussion questions. DQs due days 2, 4 and 5 7 Individual Addressing International Legal and Ethical Issues Simulation Summary Complete the Addressing International Legal and Ethical Issues simulation located on the student website. Write a 350-word summary. In your paper, answer the following...
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...|[pic] |COURSE SYLLABUS | | |School of Business | | |LAW/421 Version 1 | | |Contemporary Business Law | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course reviews the U.S. legal system, common law and its development, organizational structures, and the regulatory environment pertinent to business. Students will learn to critically examine torts, crimes, and business ethics. They will also examine contracts; business associations including agencies, partnerships, and corporations; wills, estates, trusts, and other legal entities; securities regulations; and investor protections. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies...
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...Article Review Jennifer Abruscati LAW/421 June 2, 2014 Stacey Mealey Article Review The “High Court Ruling Only Tweaks Sarbanes-Oxley Act” article refers to the Supreme Court ruling in the case Free Enterprise Fund v. PCAOB. The United States Supreme Court upheld the constitutionality of all of the Sarbanes-Oxley Act and it will remain “fully operative as law”, except for one provision that allows the Securities Exchange Committee (SEC) to remove PCAOB members on good cause only. The Supreme Court decided that this provision did not agree with the United States Constitution’s premise of separation of powers, giving authority to the president, not the SEC, to appoint or fire PCAOB members. The Sarbanes-Oxley Act was passed through the U.S. Congress in 2002 after various corporate accounting scandals, such as Enron. Financial statements were falsified to make the corporation look more appealing to investors and for those who invested and believed Enron’s financial position to be true, lost everything. How would investors know if they are making a good investment? Investors were scared to invest in corporations because financial statements were not regulated. The SOX Act was created to protect investors from corporations that use fraudulent accounting activities by enforcing policies and regulations for reporting financial statements and holding companies accountable that used fraudulent methods. Today, the SOX Act is an integral part of all corporations financial...
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...First Amendment Tiffany Berardino, Alanna Cherry, Charlie Ford Paul Patton, Gwyneth Navitsky Law/421 Contemporary Business Law November 10, 2013 Boni Cherelle Introduction On December 15, 1791, the First Amendment Rights were set forth to protect the citizens of the United States and be governing by the Bills of Rights. As time passed and the U.S. changed the First Amendment, it became more of a pillar for free speech, free press and the right to peacefully assemble. The First Amendment, at its early stage, was only applied by laws by Congress but now it has been directed in the process of incorporating a clause through the Fourteenth Amendment – due process. The First Amendment protects as well as gives an understanding of what society can and cannot do as citizens of the United States. First Amendment/Defamation As a team, we are in agreement that the First Amendment protects defamation to an extent. For example, consider the media who report on current events all over the world. Journalists are the most accused of defamation due to the topics which are discussed. This in turn creates a stage that is known to the world as “correct reporting”. Freedom of speech, as characterized in the First Amendment, allows individuals the freedom to say what they want so long as it does not create falsehoods and defames the character of any one individual. First Amendment/Censorship Although the First Amendment gives people or companies the freedom of speech and press,...
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...Team A Reflection Jimmy LaNonh, Diana Ogden, Alicia Ventura, Charlie Yi, James Williams LAW/421-Contemporary Business Law August 13, 2014 R. Garth Ferrell During week, 4 and 5 of Contemporary Business Law the class went more into depth of contracts including formation, breach or discharge, and the UCC. The team gained a better understanding of the elements of a binding contract and how the UCC is involved with contracts. The class discussion was mainly regarding contracts, the UCC code, and the differences. The concept for Diana that sometimes is difficult is deciding if both parties in a contract gave consideration. If that element is missing this constitutes the lack of a contractual agreement. However, under the UCC code for merchants this is not a required element. The other piece that can be difficult to discern is deciding when the date of the contract begins, which must also meet certain elements to be a legal accord. The oral or written information must include the parties, price, object, and time that both parties mutually agree, and if not clear, one party may believe something different from the other party. Additionally, businesses need to pay close attention to the acceptance portion in contacts because of the “mailbox rule” because if specific date requirements are not in the arrangement this could be a reason for a dispute. The Statue of Frauds portion was another area of discussion to decide when written agreements are a requirement such as in UCC for...
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...has represented his employer for assisgnments in Japan, the Netherlands, Germany, and Italy. Through his consulting service, David has developed successful programs in problem resolutions, employee development, team building, leadership dynamics and corporate analysis leading to turn-around activities, and developing learning organization. He has been a featured presenter at seminars and conventions throughout the United States and Canada. DONALD W. MAINE SCHOOL of BUSINESS BUSN210 Professional Ethics Credit Hours: 3 Contact Hours: 45 Prerequisite(s): Co-requisite(s): Course Description This course explores applied ethics, focusing on social and professional situations especially in the fields of business, law, and technology. Students learn ethical theory as they examine the complexities of ethical...
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...Theory to Practice: The GCI/Armstrong Press Scenario Daniel Ilario LAW/421 February 24, 2014 G. Alan Williams Is Armstrong’s addition of the delivery term binding on GCI? Explain the UCC analysis governing the additional terms added by Armstrong: Yes it is likely that Armstong’s modification of terms would be binding upon Graphic Communications, Inc. (GCI). UCC articles 7-2 through 7-4 speak to contract modifications. Article 7-2 stipulates that modifications are acceptable and normal in the course of business. Article 7-3 establishes the definition of acceptable modifications where offer, acceptance and consideration are met, indicating mutual assent between the parties. Article 7-4 provides that mutual assent need not be proven solely by verbal or written means but also by the conduct of the parties, if that conduct indicates a meeting of the minds. In this scenario, GCI tendered an offer to Armstrong by sending a purchase order that specified payment of a specific amount of money GCI in return for the delivery and assembly of specific equipment by a specified date. Armstrong’s added an addendum to the offer and sent it back to the offeror. However, the addendum did not constitute a counter-offer, because it did not change any of the terms of the original offer, but rather provided additional specificity to the terms implied by the offeror. GCI’s wording implied Armstrong to be responsible for delivery and responsible for assembly of the equipment. Armstrong’s addendum...
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...LAW/421 Final Examination Study Guide This study guide will prepare you for the Final Examination you will complete in Week Five. It contains practice questions, which are related to each week’s objectives. In addition, refer to each week’s readings and your student guide as study references for the Final Examination. Week One: Introduction to Law Objective: Define the functions of law in society. 1. Precedent evolves from a. state and federal constitutions b. state and federal statutes c. the common law d. a combination of both state and federal statutes and common law Objective: Define the functions of law in society. 2. Once stare decisis and case precedent is established, a. it may be disregarded and overturned by a court if they deem such action appropriate b. it may not be disregarded by a court but may be overturned by state statute c. it may not be disregarded by a court or be overturned by state statute but may only be changed by amendment to the state's constitution d. it may not be disregarded or overturned once established and must be followed without exception Objective: Define the role of law in business. 3. In the cases of Heart of Atlanta Motel v. U.S. and Katzenbach v. McClung, the Supreme Court found illegal discrimination under the Civil Rights Act of 1964 by applying a. the Commerce Clause b. the Supremacy Clause c. the Necessary and Proper Clause d. the Equal Protection Clause Objective: Define the role...
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...Environmental Factors MKT 421 Environmental factors are identifiable elements in the physical, cultural, demographic, economic, political, regulatory, and technological environment that affect the survival, operations, and growth of an organization. A global organization such as Target has to take into consideration these environmental factors to continue to grow outside the borders of the nation of origin. This paper will analyze global economic interdependence, the effect of trade practices and agreements, the influence of cultural differences, the effect of political systems, and the influence of international relations in relation to Target. This paper will also analyze the importance of demographics and physical infrastructure, the concepts of social responsibility, and the ethical and legal obligations of Target. An explanation of the effects of technology and the influence of the Foreign Corrupt Practices Act of 1977 as well as the influence of local, national, and international legislation on Target policies and practices, are included.("Environmental factors," 2012) Environmental Factors Although Target stores have only recently moved into a global market with the acquisition of properties in Canada, Target Corporation has been a global organization for decades. Target has multiple divisions operating in other nations throughout the world. India is home to the Target IT solutions, customer service, and technical support divisions. There are many offices...
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