...1. Executive summary This paper will study a contract, common in business law; but more specifically, this report will analyze a credit card agreement from CIBC Visa. In studying this contract, it will show what a contract is and the legal framework that it implies. In studying the clauses of this contract, one will familiarize oneself with the legal terms and jargon that all contracts consist of. In explaining these clauses, one might be able to divide them into twelve main principles that a contracting agreement should consist of. This paper will then analyze the clauses and any potential flaws or problems, and later suggest changes that should be applied. These can be considerable change, for instance, adding or removing clauses or can be simply a small change, such as changing a few words in a clause or fixing a spelling error. This report will then move on to challenge the legal reasoning of the contract and finally explain the legal corrective measures that are identified at the end of this paper. All of these things will be tied into the general foundation of business law and how they all connect. 3 2. Introduction This paper is designed to explain a typical credit card agreement; first, it will explain all clauses and the true meaning behind the legal verbiage. Secondly, this paper will define and apply various legal principles as they apply to the contemporary legal environment. By exposing this information and relaying it in a means that is more comprehensible...
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...ADM3360A [THE FINE PRINT: THE HIDDEN AGREEMENT] [For Professor Gilles LeVasseur] Table of contents 1. Executive Summary ……………...……………………………………………… 3 2. Introduction ……...……………………………………………………………… 4 3. Clause-by-Clause Analysis ……………………………………………………… 8 4. Discussion ……………………………………………………………………….. 18 5. Recommendation ………………………………………………………………… 21 6. Legal Corrective Measures ………………………………………………………. 23 7. Conclusion ……………………………………………………………….............. 24 8. Appendices ………………………………………………………………………. 25 9. Works Cited ……………………………………………………………………….. 31 10. Contract…………………………………………………………………………… 32 2 1. Executive summary This paper will study a contract, common in business law; but more specifically, this report will analyze a credit card agreement from CIBC Visa. In studying this contract, it will show what a contract is and the legal framework that it implies. In studying the clauses of this contract, one will familiarize oneself with the legal terms and jargon that all contracts consist of. In explaining these clauses, one might be able to divide them into twelve main principles that a contracting agreement should consist of. This paper will then analyze the clauses and any potential flaws or problems, and later suggest changes that should be applied. These can be considerable change, for instance, adding or...
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...ABSTRACT Consumers need to continuously work to keep themselves informed about all of the details of their major purchases. Businesses need to conduct business practices knowing many consumers will require a full disclosure of all details before they will engage in a transaction with a business in the first place. Consumers and Businesses have rights and requirements in a purchase to detail the intentions of the transaction in writing. Both sides agree that the written agreement signed by both parties will serve as the contractual document that once carried out becomes the final agreement to the transaction. Summarized, all detail regarding the transaction should be in written form and included with the contract as part of the agreement. No verbal agreement in addition to the written contract will have any bearing on the transaction. Betty drove three hours in one- hundred degree heat. Explain whether this has any bearing on whether the dealer has to perform in accordance with the published advertisement. An advertisement for the sale of a product by a business needs to explain the item offered and the terms of the sale. Explanation of the offered item for sale in an advertisement should include special conditions that need to be met by the purchaser. A potential purchaser may experience geographical constraints with respect to how far they have to travel to pursue the purchase. In the case where a potential purchaser has traveled in extreme heat to make a...
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...Assignment 4- Bait and Switch Mohammed Baba Law, Ethics, and Corporate Governance John Rodgers Strayer University September 02, 2011 Betty drove three hours in one-hundred degree heat. Explain if this fact has any bearing on whether or not the dealer must perform in accordance with the published advertisement. Introduction: Bait-and-switch is a form of fraud, most commonly used in retail sales and car dealership but also applicable to other contexts. First, customers are "baited" by advertising for a product or service at a low price; second, the customers discover that the advertised good is not available and are "switched" to a costlier product. The fact that Betty drove three hours in one hundred degree weather has no bearing on whether the dealer must perform in accordance with the published advertisement. Advertisements are not offers. In every advertisement by marketing firms, certain vital terms and conditions may not be very clear and certain. Common examples of these factors are pricing conditions and quantity. The law in advertising calls these invitations to treat; basically these are invitations from the company or the advertising firm to the general public to make an offer on a particular item or items at a given period of time. However no statement or illustration of any form of advertisement should be use to creates a false impression of the grade, quality, make, value, currency of model, size, color, usability, or origin of the product offered,...
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...Predatory lending is directed at borrowers in the subprime sector, who do not qualify for conventional loans. These loans have high interest rates and fees due to the higher risk to the lender. Predatory lenders target the financially vulnerable, specifically the elderly, the poor or racial minorities. Many of their targets could have qualified for a regular prime loan at much lower interest rates. This difference in interest rates would mean thousands of dollars saved by the homeowner. Predatory lending practices can leave victims homeless while the lenders make profits. (Pridgen, 2005) The U.S. Government Accountability Office (GAO) defines predatory lending as transactions that contain terms and conditions that ultimately harm borrowers. (Bond, Musto, & Yilmaz, 2009) Determining who benefits in the financial transaction helps to determine whether or not a transaction can be labeled as predatory. When a borrower does not benefit, the mortgage is viewed as a predatory lending practice. Predatory lenders often use aggressive sales tactics to compel borrowers into refinancing when the financing terms are not in the borrower’s interest. They pack excessive fees into the transactions, such as insurances, prepayment penalties, and yield spread premiums. (Pridgen, 2005) A refinanced mortgage can be filled with excessive, unnecessary fees. A predatory lender typically adds them into the loan amount to disguise them. The most common extra charge is insurance, including mortgage...
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...result of the type of information exchanged as well as how that information is exchanged. These problems can be categorized as differences in “direction”, “quantity” and “quality”. At differences in direction employees from high-context cultures like China and France adapt to their good friends, families and also to close colleagues (in-group members). They communicate with them intensively (quantity difference) and exchange specific/detailed information about many different topics. The result is that every group member is constantly up-to-date with the facts around the business. Edward T. Hall, a respected anthropologist and cross-cultural researcher, identified classic dimensions of culture in his books The Silent Language and The Hidden Dimension. Understanding and applying this concept can help today’s leaders improve their communication skills across cultures. A key factor in his theory is context. This relates to the framework, background, and surrounding circumstances in which communication or an event takes place. In comparison to high-context cultures, low-context cultures like the USA and Australia orientate on many people of their daily life because they don’t differentiate as much as high-context cultures between in-groups and out-groups. The direction...
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...Working with Excel files in Python Chris Withers with help from John Machin EuroPython 2009, Birmingham The Tutorial Materials These can be obtained by CD, USB drive or downloaded from here: • http://www.simplistix.co.uk/presentations/europython2009excel.zip The Website The best place to start when working with Excel files in Python is the website: • http://www.python-excel.org © Simplistix Ltd 2009 Page 2 License THE WORK (AS DEFINED BELOW) IS PROVIDED UNDER THE TERMS OF THIS CREATIVE COMMONS PUBLIC LICENCE ("CCPL" OR "LICENCE"). THE WORK IS PROTECTED BY COPYRIGHT AND/OR OTHER APPLICABLE LAW. ANY USE OF THE WORK OTHER THAN AS AUTHORIZED UNDER THIS LICENCE OR COPYRIGHT LAW IS PROHIBITED. BY EXERCISING ANY RIGHTS TO THE WORK PROVIDED HERE, YOU ACCEPT AND AGREE TO BE BOUND BY THE TERMS OF THIS LICENCE. THE LICENSOR GRANTS YOU THE RIGHTS CONTAINED HERE IN CONSIDERATION OF YOUR ACCEPTANCE OF SUCH TERMS AND CONDITIONS. This Creative Commons England and Wales Public Licence enables You (all capitalised terms defined below) to view, edit, modify, translate and distribute Works worldwide for Non-Commercial purposes under the terms of this Licence, provided that You credit the Original Author. 'The Licensor' [one or more legally recognised persons or entities offering the Work under the terms and conditions of this Licence] and 'You' agree as follows: 1. Definitions a) b) "Attribution" means acknowledging all the parties who have contributed to and have rights in the...
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...the first phase of World War I (Grayzel 10). Soon afterward nations throughout Europe announced declarations of war. By the end of October countries as far away as Japan, China and Brazil had become involved (Grayzel 11). Susan R. Grayzel in the “Introduction: The First World War and the Making of a Modern, Global Conflict” from The First World War: A Brief History with Documents”, explores a variety of contributing reasons for the Great War (Grayzel 9). The causes most often cited included the rise of nationalism, increased militarism, imperialism, and a willingness among the population to allow their governments to persecute a war (Grayzel 9-10). Ironically, it was a complicated series of competitive alliances and international peace agreements that caused such a rapid global escalation of hostilities (Grayzel 5). With its vast immigrant population, and their own ties to European and Asian interests, America was not immune to finding itself dragged into the war. Hence, during the first years of the war, President Woodrow Wilson struggled to maintain neutrality. So much so that he issued a declaration of neutrality to Congress on August 14, 1914. In his speech he entreated Americans to remember, “Every man who really loves America will act and speak in the true spirit of neutrality …” (Woodrow par. 2) With even more conviction he strongly suggested that “[t]he United States must be neutral in fact, as well as in name [emphasis added], during these days that are to try men's...
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...leader and bullying prevention expert, Dan Olweus, is “one who attempts to intentionally inflict injury or discomfort on another person.” But this serves as little basis for what concerned people should look for in individuals who may be engaging in bullying behavior. To start, boys do more bullying than girls, often driven by a “need to feel power and control” (Banks). Bullies tease, taunt, threaten, physically beat, and can come in groups of one or more students. These people derive satisfaction from inflicting injury and suffering upon others, before turning around and rationalizing their actions by claiming that their victim(s) provoked them (Banks). Students deemed bullies often display defiance towards adult authority and feel completely fine breaking...
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...Melissa Joy R. Suarez 14 June 2014 TABLE OF CONTENTS Laws Affecting Marketers Marketing Law ………………………………………………………………….. 5 Republic Act No. 8424: The National Internal Revenue Code of 1997 .................... 5 Republic Act No. 8293: Intellectual Property Code of the Philippines …………… 6 Batas Pambansa Bilang 68: Corporation Code of The Philippines …………. . 6 Republic Act No. 8799: Securities Regulation Code of the Philippines …………… 7 Republic Act 8792: Electronic Commerce Act of 2000 …………………………... 8 Legal Recognition of Electronic Writing or Document and Data Messages Data Messages ………………………………………………………….. 9 Electronic Documents ………………………………………………….. 9 Electronic Signatures …………………………………………………. 10 Agreement on Acknowledgment of Receipt of Electronic Data Messages or Electronic Documents …………………………………………………. 11 Republic Act No. 9501: Magna Carta for Micro, Small and Medium Enterprises 12 Republic Act 9178: Barangay Micro Business Enterprises (BMBEs) Act of 2002 14 Republic Act 7042: Foreign Investment Act of 1991 ……………...................... 14 Laws Affecting Consumers Basic Consumer Rights Right to Basic Need …………………………………………………. 15 Right to Safety …………………………………………………. 15 Right to Information …………………………………………………. 16 Right to Choose …………………………………………………. 17 Right to Representation …………………………………………. 18 Right to Redress ………………………………………………….. 18 Right to Consumer Education ………………………………….. 19 Right to a Healthy...
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...Section4:PowerandDuties(Responsibilities)…………………..…………………………..…...….………………...……13 Section5:Evaluation……………………………………………………………………..…..............................................18 Section6:Salary…..…………………………………………………………………….…………………………………………...…...19 Section7: Expenses/Allowances 21 Section8: Professional Schedule 23 Section9: Other Benefits 23 Section10: Professional Organizations/Activities...……………………………………………………………………….27 Section11: Waiver of Credential Status………………………………………………………………..……………………….27 Section12: Medical Examination 28 Section13: Option to Terminate 28 Section14: Arbitration 30 Section15: Savings Clause 32 Section16: Complete Agreement 32 4. Application of all the Legal Principals 33 Section One:Legal System / Common Law 33 Section Two: The Charter of Freedom of Rights 34 Section Three: Contract 35 Section Four:...
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...Predatory Lending Practices Predatory lending was once a major problem in the United States. This was one of the reasons for the credit crisis in 2008. Unfortunately there were a few companies that were involved in these illegal practices which will be discussed in further detail later. There are different tactics used in predatory lending and several laws were developed to help prevent future predatory lending issues. What is predatory lending? Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through coercive, deceptive, exploitative, or unscrupulous actions for a loan that a borrower can’t afford, doesn’t need, or doesn’t want. Predatory lending benefits the lender, not the borrower by ignoring or hindering the borrower’s ability to repay the debt. These lending tactics attempt to take advantage of a borrower’s lack of understanding about loans, terms, or finances in general (Krulick, 2014). Who can be targeted in these illegal practices? Predatory lenders typically target minorities, poor, elderly, and less educated people. People who need immediate cash are also targeted. For example people that need to pay medical bills, need to make a home repair, or someone that needs help making a car payment. People with credit issues or people who recently lost their jobs can be targets as well. The credit issues often disqualify borrowers from conventional loans...
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...Kautilya's Arthashastra Translated into English by R. Shamasastry Kautilya's Arthashastra Translated into English by R. Shamasastry Kautilya's Arthashastra Table of Contents Book I, "Concerning Discipline" .............................................................. 3 Book II, "The Duties of Government Superintendents" ....................... 60 Book III, "Concerning Law" ................................................................. 213 Book IV, "The Removal of Thorns"...................................................... 285 Book V, "The Conduct of Courtiers" ................................................... 336 Book VI: The Source of Sovereign States ............................................ 362 Book VII, "The End of the Six-Fold Policy" .......................................... 370 Book VIII: Concerning Vices and Calamities........................................ 467 Book IX, "The Work of an Invader" ..................................................... 490 Book X, "Relating to War" ................................................................... 521 Book XI, "The Conduct of Corporations" ............................................ 541 Book XII, "Concerning a Powerful Enemy" ......................................... 547 Book XIII, "Strategic Means to Capture a Fortress" ............................ 563 Book XIV, "Secret Means" ................................................................... 584 Book XV, "The Plan of a Treatise" ......
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...-Who's in charge of internal control --> management (SOX) -Management has to sign off to show internal control is working -Everything over $10,000 needs a signature (stamps) ACFE (association of certified fraud examiners --> results from misconduct of employees, managers, and executives) definition of occupational fraud - "use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing org's resources or assets." Fraud - A generic term that embraces all the multifarious means that human ingenuity can devise, which are resorted to by one individual, to get an advantage over another by false representation. No definite and invariable rule can be laid down as a general proposition in defining fraud, as it includes surprise, trickery, cunning, and unfair ways by that another is cheated. The only boundaries defining it are those that limit human knavery. Financial Statement Fraud - The intentional misstatement of financial statements through omission of critical facts or disclosures, misstatement of amounts, or misapplication of accepted accounting principles. ======================================================================= Types of occupational fraud and abuse: 1. Asset misappropriation (91.5%) - theft or misuse mostly committed by employees where cash is the most targeted asset 2. Corruption (30.8%) 3. Fraudulent statements (10.6%) Six Types of Fraud: 1. Employee Embezzlement (most common, taking...
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...Mississauga Airport Mississauga Airport (MA) is one of Ontario’s smaller airports that has been established since 1965. MA has undergone a management change recently: a new Vice President has been appointed. MA has switched to another audit firm since the new VP is a good friend of the former engagement partner resulting in a conflict of interest. MA has now appointed E&Y as its new audit firm. The engagement partner has, in turn, appointed you to gather information about MA ‘s general and application controls as well as some of CAATs that we can use in this new audit. You spoke to some of MA’s employees and did some additional research regarding the MA’s operations. The observations based on the research have been outlined in the exhibits. Your next step is to analyze those observations and come up with the general and application controls that need to be tested as well as the CAATs that can be used to audit MA’s financial statements. MA’s year-end is December. Exhibit 1 1. To protect the safety of the airport and the airlines, Mississauga Airport uses security-screening processes, during which, the airport collects a passenger’s personal information during the following occasions: * When the prohibited items are found to be a threat to aviation security; * When the amount of the money carried by a passenger exceeds $10,000; * When passengers are not cooperative or use violence. 2. Earlier this year, a traveller was suspected to take...
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