...incorporation, corporate local law, in addition to resolutions received by the Fitzgerald Corporation board of director. (Cheeseman, 2016, Chapter 28). c. Duty of Care: Directors and officers when acting on behalf of Fitzgerald Foods must use care and diligence on behalf of the Fitzgerald’s corporation, otherwise will be personally liable if any damages caused by negligence and cause a breach. (Cheeseman, 2016, Chapter 28). d. The Business Judgement Rule: Directors and officers of Fitzgerald Foods Corporation, under the business judgement rule are resistant from obligation to the corporation for misfortunes caused in corporate exchanges inside their power, if the transactions are following common decency and with sensible ability and reasonability ("Legal Dictionary ", n.d.). e. Duty of Loyalty: An obligation that employees of Fitzgerald foods such as directors and officers have not to act unfavorably to the interests of the company (Fitzgerald Foods), not to act in self-serving interests, directors and officers to lower their own advantages to those of the organization and its investors. (Cheeseman, 2016, Chapter...
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...leadership. When one has to rely and relies on the integrity and objectivity of the other person, ethics become all the more important. The correctness and incorrectness of intentions and behaviours in dealing with others, when they are encompassed with morality, are called Ethics (Boldrin and Levine 2008). According to Katalin (2005), ethical conduct involves a person observing established and accepted principles of morality of his /her own profession. Ethics provides the rationale for deciding what is right or wrong in given circumstances. Ethical standards in a society form the basis on which the ethical standards of a profession are built. Sales profession of organisations is no exception to this rule. But growing competition among business organizations and industrial houses prompt them to resort to marketing and selling strategies, which many times appear unethical. It appears that organizations resort to any practice that props up their sales (Dobson, 1997). Even established organizations are falling prey to such temptations. Misleading advertisement about non-existing features in product, wrong assurances on quality and alluring and tempting promises on characteristics like durability have become commonly accepted norms of marketing strategies. Not surprisingly the consumers have reached a stage where they are forced to believe, rather decisively that sales ethics is an oxymoron (Hair et al.2009). An ‘oxymoron’ is a combination of oppositely meaning words in literature...
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...Document hosted at http://www.jdsupra.com/post/documentViewer.aspx?fid=a427e4b9-bec6-4cfe-aada-859daad96445 [Name and address of Target’s Counsel] and address of Target’s Dear [Attorney]: Dear [Attorney]: The The following is a list of certain documents that we would like to review in connection is a list of certain documents that we to review in connection with the proposed acquisition of [Name of Target] (the “Company”). During the course of our the proposed acquisition of [Name of Target] (the “Company”). During the course due diligence documents meeting the specifications of the following due diligence review, additional documents meeting the specifications of the following list may may come documents be forwarded to us. come into existence. If this occurs, we ask that copies of such documents be forwarded to us. In existence. If this occurs, we ask addition, is likely that some of the items requested addition, it is likely that some of the items requested do not exist or are not applicable to the not exist or are not applicable the Company. If this is the case, please so indicate in your response as set forth in Company. If this is the case, please so indicate in your response as set forth in this request. We further ask that all responses to this memorandum be in writing and directed to the attention ask all responses to this memorandum be in writing and of [Attorney’s name and firm’s address]. [Attorney’s name and firm’s address]. Whenever Whenever we have requested...
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...Measuring the Effectiveness of Business Practice Laws Jennifer Torres Fuentes DeVry University Measuring the Effectiveness of Business Practice Laws In the world of business, laws that are intended to protect and ensure fairness amongst competitors and consumers have their ups and downs when it comes to how effective they really are. There are various policies and procedures that are put in place in an attempt to promote fair, balanced and competitive business practices, whose effectiveness suffers because of a lack of enforcement to their terms. Until society as a whole owns up to how badly we have reverted into unethical and demoralized behavior, the effectiveness of laws put into place to encourage us to practice socially responsible behavior will not be effective. When the needs of the many supersedes the needs of the few, only then will these laws, policies and procedures put in place to encourage socially responsible behavior being to have any real effect. The Federal Trade Commission (FTC) enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation. The Commission has enforcement or administrative responsibilities under more than 70 laws. They are grouped in three categories: (a) Statutes relating to both the competition and consumer...
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...PREREQUISITES AND BACKGROUND KNOWLEDGE Cultures of international business, business writing in English, import and export laws, international sale of goods, principles of civil law and necessary basics of legal knowledge relating to contract , maritime transportation, insurance, corporate law, partnership, and agency. STUDENTS Law school students LECTURING HOURS 40 hours TUTORING HOURS By appointment during Monday mornings 9AM-12AM and Wednesday mornings 9AM-12AM in the professor’s office. LECTURER’S INFO – Dr. Phil Cameron Office venue: A201 Office telephone：+86 (21) 6770 3307 E-mail：philcameron@shift.edu.cn COURSE DESIGN This course focuses on integrating the laws, rules and legal principles for the international trade of goods, including practical lawyering skills, business procedures, identifying risks, managing problems, and creating resolutions for common legal issues. OBJECTIVES A. To understand the basic the laws, rules and legal principles for the international trade of goods, as well as, develop some practical lawyering skills B. To cultivate academic quality and business skills, such as: 1) the ability to examine and resolve legal issues resulting in practical business solutions, along with the application of legal theory 2) an understanding of the rational, moral and jurisprudence basis of relevant rules as applied to current legal matters, and also, to examine the reasonableness and practicality of international business rules. C. To acquire practical skills and techniques for...
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...Propositions to be proven to take a deduction under IRC section 162(a): -Must be expenditures for education (including research undertaken as part of an educational program) -the education must: - maintain or improve skills required by taxpayer in their employment or other trade or business OR -meet the express requirements of the taxpayers employer, or the requirements of applicable law or regulations, imposed as a condition to the retention by the taxpayer of an established employment relationship, status, or rate of compensation -the education must not be: -education for Minimum education requirements, or -education for qualification for a new trade or business I. Citation: Rev. Rul. 74-78, 1974-1 C.B. 44 II. Facts: The taxpayer, a dentist engaged in general dental practice, returned to dental school for...
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... Several issues were addressed in the simulation pertaining to international legal and ethical issues relating to business. There were many issues portrayed in resolving international legal disputes including the full understanding of the local laws and the choices surrounding law and dispute resolutions. The text states, “Whenever a U.S. firm enters into a contract situated in a different country, it should make sure the agreement is officially enforceable” (Melvin, 2011). To fully understand the local laws in an international business transaction a corporation would have to find answers to questions regarding foreign exchange controls, environmental issues, and required governmental consents.. The answers to these questions will help the CEO and legal team move forward in creating a contract that is agreeable to both parties. Choosing the correct law clauses to agree upon during negotiations is one of the most vital considerations of taking legal action against a foreign business partner. In the situation of CadMex, the Candorean Regulations for Technology Import Contracts would be the best selection (University of Phoenix, n.d.). This clause would be the most beneficial because Candoria would most likely impose their government’s laws and regulations. Sublicensing would most likely work for CadMex. However, there are a number of other factors that need to be considered when making a decision to grant sublicensing...
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...Forensic Accounting Practice Bradford Clark Professor Dr. Hanners Lithonia Campus BUS 508 – Contemporary Business March 1, 2012 Strayer University Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. A forensic accountant is a specialist in accounting and financial systems that is trained to detect white collar fraud. Forensic Accounting is a fast growing field in the in the field of accounting. Although it has been around for a long time, it has become increasingly popular in the past few years as there have been a number of corporate scandals, stricter reporting, and internal control regulations involving public awareness and importance in the business world. With the state of the world’s economy forensic accountants are in high demand. Forensic accountants should at least possess a Bachelor degree in accounting. They should also be a Certified Public Accountant (CPA) and may possess other certifications such as Certified Forensic Accountant (CrFA) and Certified Forensic Accounting Professional (CFAP). The skills needed to become a forensic accountant include strategic critical thinking, problem solving/decision making, leadership, interpersonal and communication skills, and professional and ethical behavior. Strategic critical thinking is the ability to link data, knowledge...
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...a casual employee is required to attend work they are entitled to a minimum payment for two hours work. * A casual employee must be paid at the termination of each engagement, but may agree to be paid weekly or fortnightly. 2. Work Health and safety Act 2011 a. A work group must elect them. * Do not adversely affect the health and safety of other persons, comply so far as the worker is reasonably able, with any reasonable instruction that is given by a person conducting the business or undertaking to allow the person to comply with this act. * Co operate with any reasonable policy or procedure of the person conducting the business or undertaking relating to health or safety at the workplace that has been notified to workers. * Take reasonable care for his or her own health and safety. b. In this act notifiable incident means * The death of a person * A serious injury or illness * A dangerous illness. c. * The person conducting the business or undertaking and the workers have agreed to procedures for consultation must be in...
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...UNIVERSITY BUSINESS LAW AND ETHICS 1. Kenya’s court system. a. the court of appeal this is the highest court in Kenya with the function of hearing appeals from the high court in certain matters. b. the high court this is the second in hierarchy. Hears both criminal & civil matters. it has specialized divisions:- - family divisions - criminal divisions - civil divisions - commercial division - constitutional& judicial review divisions. Appeals from various administrative bodies & subordinate courts are heard and determined by the high court. c. magistrate’s court handle civil & criminal matters depending on the rank of the magistrate. the hierarchy of magistrates is:- 1. chief magistrate 2. senior principal magistrate 3. principal magistrate 4. senior resident magistrate 5. resident magistrate 6. district magistrate d. specialized courts children’s court – this deals with matters relating to children e.g. parental responsibility , custody, guardianship, protection of children, foster care, child offenders. Anticorruption courts which deal with the matters relating to corruption & integrity. e. tribunal tribunals are made by the parliament to deal with disputes that arise in the course of the regulation & administration of certain matters. Common tribunals are:- 1. industrial courts Deals with labour disputes. 2. land disputes tribunals Deals with disputes relating to land...
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...assets may include special skills or talents, inventions, technologies such as software, relationships with customers or vendors, and brand identity. These examples of IP, and many more, are often among a company’s most valuable resources, and there are specific laws designed to protect them. Trade secrets, patents, trademarks, and copyrights define and control ownership rights to IP, and businesses further protect those rights by drafting IP clauses when they enter into contracts with individuals or other businesses. (Reed, Pagnattaro, Cahoy, Shedd, & Morehead, 2013). The purpose of an IP clause is to identify IP as it pertains to the respective contract, define authorized and/or unauthorized use(s), and incorporate this information into the original contract, which makes it legally binding (Connock, 1994). The following is an example of an IP clause: “Intellectual Property,” or “IP,” refers to the trade secrets, copyrights, trademarks, patents, and patentable ideas relating thereto of Developer, including but not limited to the know-how, inventions, technologies and technical data relating thereto, processes and methods of business operation, reports, manuals, other documentation and all information relating thereto, databases, pre-existing and future relationships with customers and suppliers, software, new product research, and marketing plans (Reed, et al., 2013). Developer grants to Company the right to use all IP provided, solely for the purposes outlined by...
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...3.0.1 International Business - University Assessment 100 Marks Course Content 1. Overview of the International Business Process 2. PEST factors affecting International Business 3. Government influence on trade 4. International Trade Theories 5. FDI 6. Country Evaluation and Selection 7. Collaborative Strategies 8. International Marketing 9. International Trade Agreements 10. International Trade Organizations 11. International HR Strategies . 12. International Diplomacy - . Reference Text 1. International Business - Daniels and Radebouqh 2. International Business - Sundaram and Black 3. International Business — Roebuck and Simon 4. International Business – Charles Hill 5. International Business— Subba Rao 3.0.2 Strategic management 100 Marks Course Content 1. Strategic Management Process: Vision. Mission, Goal Philosophy. Policies of an Organization. 2. Strategy, Strategy as planned action, Its importance, Process and advantages of planning Strategic v/s Operational Planning. 3. Decision making and problem solving. Categories of problems, Problem solving skill, Group decision making. Phases indecision making, 4. Communication Commitment and performance, Role of the leader, Manager v/s Leaders Leadership styles 5. Conventional Strategic Management v[s Unconventional Strategic Management. The Differences, Changed Circumstance. 6. Growth...
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...Sale of Goods National Law School of India University Law of Contracts II Transfer of rights under the Sale of Goods Act Submitted by: Shivendu Pandey Id No.- 1928 Date of Submission: 13th April, 2011. Table of Contents Introduction 3 Transfer of rights under the Sale of Goods Acts 4 What is a Sale? 4 Essentials of a contract of sale 4 Definition of property 4 Transfer of property as between seller and buyer 5 Passing of Property or Transfer of Ownership 5 Property cannot pass until the goods are ascertainable 6 Distinction between transfer of property and delivery of goods 7 Property passes when intended to pass 8 Ascertained goods 10 Passing of property in specific goods 10 Ownership in unascertained goods 11 Transfer of Title by Person not the Owner 12 Doctrine of Nemo dot quod non habet 12 Exception to the General Rule 12 Conclusion 14 Introduction Mercantile laws are laws that govern trade and commerce. These laws essentially deal with the rights and obligations of the parties to a mercantile agreement. In India, there are various mercantile laws like the Contracts Act, the Partnership Act dealing with particular mercantile relations. The Sale of Goods Act is one such act which deals with the contract of sale. Originally, the law relating to sale of goods or movables was contained in chapter VII of the Indian Contract Act, 1872. The Indian Contracts Act embodied the simple and elementary rules relating to the sale of goods. It was...
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...Legal Risk and Opportunity in Employment Law 531 Charles Cook February 7, 2011 Legal Risk and Opportunity in Employment Legal Encounter 1 NewCorp violated a breach of contract with Pat in this case. While NewCorp is an “at-will” employer, they provided an employee handbook to Pat which outlined the procedure for disciplinary process involving the requirement of corrective action. NewCorp failed to follow their own process which supports the wrongful termination suit. Additionally, the case law which would be applicable to this case is Dillon v. Champion Jogbra, Inc. The case has many similarities which can support Pat's claim of wrongful discharge. For example, the implied contract relating to the action stated within the employee handbook to follow a procedure for discipline and/or corrective action prior to discharge. Because NewCorp did not imply that the employee handbook was not a contract at any point within the handbook. Therefore, Pat has grounds for action against NewCorp. Legal Encounter 2 NewCorp has two issues to face in this scenario. The first being the sexual harassment by Sam toward Paula. Sexual harassment is “defined by the Equal Employment Opportunity Commission (EEOC) as unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature when: submission to the conduct is made either explicitly or implicitly a term or condition of an individual’s employment, or submission to or rejection of the conduct...
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...the essential elements required for there to be a valid contract Course : Diploma in Business Administration (International Business-DBID2 1501A) Module : Introduction to Business Law Name : FIN : Lecture : M. Lukshumayeh Due date: 18th June 2015 Table of Contents: 0 Introduction.......................................................................................1 1.1 what is a contract ？...................................................................1 1.2 The difference between an agreement and a contract ................1 1.3 The elements of a valid contract..........................................2 2.1 Offer...................................................................................................2 2.1.1 The definition of an offer .......................................................2 2.1.2 Two types of offer.................................................................2 2.1.3 Rules relating to offer ..........................................................3 2.1.4 An offer distinguished from an "invitation to treat".............3 2.2 Acceptance.......................................................................................3 2.2.1 The concept of acceptance ...................................................3 2.2.2 Rules relating to the acceptance............................................4 2.3 Intention to create legal relations...
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