LAWS310 All Discussions

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Antitrust laws were enacted at a time when it seems that a handful of powerful men controlled…

 

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LAWS310 All Discussions

LAWS310 All Discussions

Sarbanes-Oxley and Corporate Social Responsibility Discussions Week 1 All Students Posts 78 Pages 

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Sarbanes-Oxley – 39 Pages 

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The Sarbanes-Oxley Act of 2002 suggests that businesses develop a code of ethics. How effective is a code of ethics in preventing unethical conduct? Review the sample code of ethics of Big Cheese Corporation in Chapter 8. Are there any clauses in this code that you believe need to be more specific? Why?  Does having a business code of ethics mean that employees of the business are more ethical?  Why or why not…?

Review your employer’s code of ethics.  What provisions did you find to be the most interesting and why…?

Many in society argue that white collar criminals seem to face favorable treatment in the court system while blue collar criminals receive harsher punishments.  Do you agree or disagree with this belief?

Let’s look at someone choosing to be silent….Silence in a situation can create quite a bad situation with the SOA… take Enron for example.. too many people did not say anything and look what happened….

As a direct result of Enron and other corporate scandals, many business schools throughout the
United States are now including classes on ethics in their curriculum. What do you think about this in our discussion this week?  Should there be a law (much like a good Samaritan law) that would hold someone accountable if they didn’t say something?  Why or why not?

Why should a law have to passed to require people to do the “right” thing in business.. and what ethical philosophies contribute to your answer and why?…

Corporate Social Responsibility – 39 Pages 

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What is corporate social responsibility? Provide two examples of corporations that meet that definition of corporate social responsibility and identify what they do that makes them socially responsible.

The Sabarnes-Oxley Act was in response to some abusive business practices… do you think that this is the best way to handle and address ethical issues?  Or is there a better way?

Noted economist Milton Friedman argued that businesses are in business solely to make a profit, and that the only social responsibility of a business is to make a profit.  Do you agree with Friedman’s position and how can you relate it to our discussion question?  Why or why not?

Do you think it like the domino effect where one organization does something so the next one has to do something too?  If so… can you provide an example…?

What is stare decisive and why is it so significant to the American legal system (be sure to provide examples to illustrate your definition)?

Can you locate a corporate code of ethics, either from your employer or another one…. What types of behavior are addressed…?  Was there anything that surprised you in it?…

LAWS310 All Discussions

Business Formations and Fiduciary Relationship Discussions Week 2 All Students Posts 73 Pages

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Business Formations – 31 Pages 

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A business may take one of the following forms: sole proprietorship, general partnership, limited partnership, corporation, or limited liability company. Choose one of the business formations and identify how it is created and the characteristics of that business formation. Provide support for your discussion.

Starting a business is tough.. no matter what the market… do you think that people get sufficient legal advice before they start a business?  Why or why not?  Why is a “Limited Liability Company” (LLC) such a popular business formation?

Given the various legal entities available for business organization, such as corporations, sole proprietorships, limited liability companies, etc., propose an appropriate entity for a one-person, professional-service start-up operation, assessing typical merits and risks associated with this endeavor.
With that in mind, please consider the following scenario:
Howard just graduated from horticultural school. He received all A’s in his classes and is extremely talented at landscape design. He now wants to open his own landscaping business. He does not have much money, but he does have a lot of enthusiasm and ideas. He thinks he will have to hire at least a few employees during the busy seasons but may not be able to keep them on the payroll year round.
What business formation should he consider? Why? What are the benefits? What are the negatives?

General partners can come about in business a lot… and each partner has rights…In general.. what are the rights of a general partner…. And also, should partners put their partnership in writing… ?Why or why not…?

Fiduciary Relationship – 42 Pages 

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Corporate officers and directors owe fiduciary duties to the corporation. What is a fiduciary relationship? Identify at least two of the fiduciary duties and provide an example of each. What business employees are fiduciaries? Thoughts?  What is the fiduciary relationship that you describe here.. when a company goes bankrupt? Is there a duty or can the corporate officers just walk away? Why or why not?

What legislation has been passed to provide greater accountability for fiduciaries?

An agent has a lot of duties when it comes to acting as a fiduciary…What would be the duty of loyalty as it pertains to here….?Why is it something that we want to look at when talk about these relationships?Thoughts?

Can you describe a situation where you have been involved with this type of relationship now that you know what it is?…

BFOQs – 41 Pages 

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What is a bona fide occupational qualification (BFOQ)? Provide an example of a job that has a BFOQ.

Now.. women still earn 77 cents for every dollar that a man makes… with so many advances in job equality… and discrimination…. Why do you think this persists?  Thoughts?

What about jobs that are geared towards men versus women.. for example, women as prison guards…
Are women in an uphill battle with these jobs?  Do you think that the women who go forward with the position knowing that some are against it.. that they may be subject to harsher treatment, “just to show her how tough it is”…. Or… do you think folks may look out for her given the situation…. what are the dangers of either of these situations occurring…? Or… something else….? If you were in charge of the situation, what would you do if you saw what you thought could be construed as BFOQ gone wrong?

In a male prison, would a bona fide occupation be that all guards must be male?  Or.. in a female prison, would it be discriminatory to require all guards to be female? Thoughts? What is BFOQ and does that have a play in a situation such as working at Hooters… why or why not is BFOQ acceptable?…

Agents versus Independent Contractors – 38 Pages 

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Compare and contrast the differences between agents and independent contractors. Provide an example of each.

What are the liabilities of the principal when it comes to the independent contractor?  Why is this an important thing to understand…?

Are there advantages?  To either the employer or the worker if he or she is designated and independent contractor…? Why or why not…?  What is the degree of control mean in the concept of being an independent contractor…? How important is this in deciding if there should be independent contractor or employee…? Thoughts?  If a dispute happens and either party is not happy…who (or what agency) become the investigator…who is the one that decides who is responsible for negative actions?

If an agent has permission to act on behalf of a principal… and the agent does things that they “feel” are in the best interest.. however, in reality they hurt the principal’s position.. who’s to blame?
Is it the principal because they gave them consent to act on their behalf?  Or is it the agent because they didn’t use that power wisely?…

Securities and Exchanges Act and Antitrust Laws Discussions Week 4 All Students Posts 72 Pages 

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Securities and Exchanges Act – 35 Pages 

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What was the purpose of the Securities and Exchanges Act of 1933 and do its provisions actually protect investors? Why or why not?  Are there sufficient safeguards in the law to ensure the veracity of the information companies provide in the prospectus?

Not all offerings of securities must be registered with the Commission. Some exemptions from the registration requirement include:

  • private offerings to a limited number of persons or institutions;
  • offerings of limited size;
  • intrastate offerings; and
  • securities of municipal, state, and federal governments.

By exempting many small offerings from the registration process, the SEC seeks to foster capital formation by lowering the cost of offering securities to the public. Is the CGC transaction a private offering or would it be considered a limited size…?

“Offering” registrations are used to register securities before they are offered to investors. The registration of a security, a preliminary prospectus contains preliminary information that will be in the final prospectus. Included in registration statements are:

  • Description of Securities to be Registered
  • Use of Proceeds
  • Risk Factors
  • Determination of Offering Price
  • Potential Dilution
  • Selling Security Holders
  • Plan of Distribution
  • Interests of Named Experts and Counsel
  • Information with Respect to the Registrant (description of business, legal proceedings, market price and dividends on common equity, financial statements, Management Discussion and Analysis, changes in and disagreements with accountants, directors and executive officers, security ownership of certain beneficial owners and management and certain relationships and related transactions).

Does this affect your answer?  Why or why not….?

LAWS310 All Discussions

Antitrust Laws – 37 Pages 

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Antitrust laws were enacted at a time when it seems that a handful of powerful men controlled commerce. Are they still relevant? Do you see any examples of monopolistic business practices today?  Why is government approval required when two large companies propose a merger?

Can government even come close to regulating anticompetitive practices in a digital age? Thoughts? However, in the spirit of debate… is there an example where a merger and/or acquisition actually treated the consumer well?

The Sherman Antitrust Act and the Clayton Act both work together to eliminate antitrust activity in the United States. Why do we need both Acts? What is the difference between the two?  Have the Sherman Anti-Trust Act and the Clayton Act been failures?
We know what the Sherman and Clayton Acts do and we know the government has used them. In fact, the government spent millions of dollars breaking up the monopoly AT&T had on telecommunications in the 70s. What happened to the Baby Bells? And, what about AT&T? Was this an exercise in futility or do government officials think the consumer public is stupid?…

Contract Formation and Intent Discussions Week 5 All Students Posts 63 Pages 

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Contract Formation – 33 Pages 

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Read Case 10.1 in Chapter 10 of your textbook. Is the general release signed by Marder an enforceable contract? Identify each element of a contract and the facts that would support each element. Can you think of any other situation where there is a legally binding contract, but ethically, maybe another choice should have been made? What roles do the dates of a contract play in an offer, counter offer, revocation or an acceptance of a contract? What are “express terms” and how do they play into our conversation here?  How does a court evaluate whether a contract exists if it is an oral agreement, particularly when the parties disagree about the terms?

What if the person put the decimal point in the wrong place.. so instead of $1000.00 they put $100.00 dollars….? Is there legal recourse? Thoughts?

Intent – 30 Pages 

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Why is the objective theory of contracts applied in determining whether a contract has been created? Why is the subjective intent of the parties not considered?

Can you have a legal binding contract based on a verbal acceptance and offer….? If so.. explain with an example…What does death or incompetency of the offeror or offeree have to deal with a contract when it comes to ending a contract in a legal sense?

Juveniles who enter contracts may disaffirm the contract when they become adults, however, they are still obligated to pay for necessaries.  What goods and services would be considered necessaries Thoughts?  Why did a legal concept, such as promissory estoppel, develop? How does it protect parties to a contract? Thoughts?

What has to occur in order for a contract to be considered unconscionable? Could there be a situation where the concept of promissory estoppel is abused in its use? Could someone be “looking” for  way out of a contract and thus make a promissory estoppel case?…

Oral Agreements and Mitigation of Damages Discussions Week 6 All Students Posts 77 Pages

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Oral Agreements – 40 Pages 

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Read the summary of Case 14.1, Turner Broadcasting System, Inc. v. McDavid in Chapter 14 of your text. Should businesspeople be bound to their oral word? Why or why not? Support your conclusion with references to the concepts discussed in your text.

In order to put together a contract, we first need to understand different types of Contracts. What are the different types of contracts?  What is the Restatement of Contracts?

Let’s talk about the Statute of Frauds. This concept requires that any contract that transfers an ownership interest in real property must be in writing to be enforceable. What are some other contracts that transfer an ownership interest in land and must be in writing under the Statute of Frauds?

What are the challenges in being able to prove an oral contract?  Knowing these challenges will help us prove our positions if we find ourselves in this situation…

How about punitive damages…Are punitive damages awarded in contract actions? Why or why not?Under what circumstances?  Are tort cases costing too much? Are Americans too litigious? Is it time for tort reform? What do you think?

Mitigation of Damages – 37 Pages 

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What is mitigation of damages? Why does the law impose a duty on the nonbreaching party to mitigate damages?  What is the difference between mutual mistake of a material fact and mutual mistake of value?

What is the difference between mutual mistake of a material fact and mutual mistake of value?  Do you have an example to share? As we know, contract law is very important to our economic system here in the United States. Of course, we do not always agree with each other as to what a contract might or might not have said or even whether a contract is valid.  In those instances, what law governs our contractual disputes?  What effect do you think courts might give to the “time is of the essence” clause in this  contract? Can you give an example of someone that has breached the “time is of the essence” clause, or will the court overlook it?

Let’s talk about damages…..a party who prevails at trial gets a judgment for damages. What remedies are available to a party to enforce that judgment?…

Internet Issues and Deception on the Internet Discussions Week 7 All Students Posts 90 Pages 

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Internet Issues – 45 Pages 

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The Internet has made the world smaller and enlarged our access to information. However, for every positive benefit of the Internet, there is a negative aspect. We have a loss of privacy, our financial profile can be compromised, and we cannot trust all information we access on the Internet. Do we operate as though the Internet has a foundation of trust? You should cite to examples and resources to support your opinion.

What is the E-sign Act and how does it recognize electronic contracts as equivalent to written contracts?

Do you think it is fair that if someone isn’t aware of all the rules… that deal with technology.. that they are held responsible… or should the contract have more due diligence in having folks understand the terms and provisions?  How about jurisdiction for ecommerce…How do parties who negotiate via the Internet address jurisdiction for a lawsuit?

Now with so much in cyberspace.. is copyright infringement a larger problem to deal with?  If so.. how do you manage such an expansive animal?…

Deception on the Internet – 45 Pages 

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Every day we read stories of people who engage in deception on the Internet, whether it is creating dating profiles that bear no likeness to what they really look like, or students who find information and pass it off as their own work. Should there be ethical standards for behavior on the Internet? What would you propose and how could those standards be enforced? Should people be able to say or do whatever they choose in an online environment? Are there circumstances in which information on the Internet should be censored? How do the United States and China differ in how each country allows its citizens’ access to information on the Internet?

What can be done to hold a person accountable for things that may be said online?  How about the comfort some have online? Should people be able to say or do whatever they choose in an online environment? Are there circumstances in which information on the Internet should be censored?

The Internet causes a great deal of potential for fraud….can you explain how parties who have not met face-to-face can minimize the possibility that there will not be fraudulent misrepresentations?

Is there any way to circumvent the web contract?  Can you claim anything different than a remedy from a written contract than a web one?…

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DeVry