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Business ethics quizlet
Secular view of business ethics
Business ethics quizlet
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On my quest to explore Christianity, I met a gentleman whose family operates a Muscadine grape business. He happens to be my Sunday school teacher. He asked if I would be willing to sell them at my store. I was interested, and I started promoting the grapes, and the products through their seeds. I personally invested a lot of time in the product by exposing it to my customers. The product became a hot commodity, and over time, I placed regular, increasing phone orders, and I began investing heavily in advertising for the Muscadine products at my store. I sometimes pay my invoices 15 to 30 days late however, that never seems to be a problem as he never charged me any late fees. I wanted our business to be formal so, I typed up a contract to …show more content…
It states that “A lawful agreement by either the seller or the buyer for exclusive dealing in the kind of goods concerned imposes unless otherwise agreed an obligation by the seller to use best efforts to supply the goods and by the buyer to use best efforts to promote their sale” (Kubasek, Nancy K. 2015, p. 766). Based on that UCC provision, I can prove that we had a lawful contract which broadens my case against the Grape company. The grape producer breached the contract of good faith and fair dealings. In the case of Nemec v. Shrader, 991 A.2d 1120, 1126 (Del. 2010) (en banc) noting that the Implied Covenant is invoked to “imply contract terms when the party asserting the implied covenant proves that the other party has acted arbitrarily or unreasonably, thereby frustrating the fruits of the bargain that the asserting party reasonably expected.” (www.acc.com). Similar to the case of Fox v. Mountain West Electric, 512 P. 3d 848 (2002), even though there was a contract, there were also a few more pro-contract adjustments that were made on implied terms. The court sides with the defendant at first while the appellate court overruled it. There was an implied contract that are manifested by our conduct of regular supply and payment. If for any reason, the court sides with defendant, there is always the appellate court for further …show more content…
Since his company breached the contract agreement, I’ll be seeking a reasonable amount of money as compensatory damages to cover the cost of the lost businesses that have happened since the breach. Being a good Christian and a Sunday school teacher, I suspect that he’s probably aware of the story of Zaccheus in the new testament. “Zaccheus stopped and said to the Lord, "Behold, Lord, half of my possessions I will give to the poor, and if I have defrauded anyone of anything, I will give back four times as much." And Jesus said to him, "Today salvation has come to this house, because he, too, is a son of Abraham.” (Luke 19:
In recent years, it seems as if there is a new financial fraud being reported any given day. One could even say that fraud has become almost a much a surety as taxes. Given the opportunities and pressures, many will businesses will fall victim to human natures and suffer losses through fraudulent activities. This case study will follow one such fraud, following the crimes of Terry Scott Welch in his pursuit for happiness by indulging his passion of landscaping.
This case arose when I went out of town on my first business trip. I have been a sales trainee for the last six weeks, and my supervisor felt it was time to send me out. I was lucky enough to get sent with the number one sales rep for the company, Vince Collier. I was excited because I knew that if I was going to learn the best ways to make a sale, it would be with Vince.
Alexander Hill, Just Business Christian Ethics for the Marketplace. Downers Grove, Ill: IVP Academic, 2008. Paperback. $14.95Jessica Burt
He would be “unjustly enriched” and therefore, having knowledge of this benefit, he would be obligated to ship the units. In addition, in the event the chain store did not pay him ahead of time and if, as I mentioned before, the chain store started advertising Sam’s product before receiving the units, this may benefit Sam as well and would therefore also fall under the quasi-contract definition but only if Sam knew about it.
The company Builder Square, Inc. was in the market to sell, subletting, or leasing vacant K-mart stores, in-turn found Network Group to carry out this process throughout the Ohio area. A deal was struck that Reisenfeld’s with the company Network that they would receive $1 per square foot for a store that was subleased totaling $260,320 in commissions. Unfortunately, Network’s sole shareholder was defrauding BSI in various ways. As a result, that Reisenfeld’s was left high and dry, with no money from the commission. After having a suit brought against Reisenfeld’s, and BSI stated that under restitution (unjust enrichment). Under Ohio law, there are three elements for quasi-contract claim. There must be (1) a benefit conferred by the plaintiff upon the defendant; (2) knowledge by the defendant of the benefit; (3) retention of the benefit by the defendant under circumstances where it would be unjust to do without payment (Kubasek, 2015, p. 313). It is the third one that the disagreement was based on was having the problem with; whether it would be unjust for BSI to retain the benefit it received without paying Reisenfeld’s for it. The courts ruled that Reisenfeld’s may seek payment from BSI under quasi-contract theory this in fact overruled the trial court’s judgment.
The recent financial crisis and thereafter recession sent shockwaves through the U.S. economy. Many businesses had to scale back, file for bankruptcy, or even close altogether. The jewelry business is no different, increasing levels of unemployment and stagnant wages caused many to limit their discretionary spending. In our example, the jewelry chain turned to debt financing to ensure the survival of their business. However, this practice was unsustainable, which put this business in a position where filing for bankruptcy was an enticing prospect. In spite of their struggling financial position, the Rolex representative for the business presents an interesting proposition, the jewelry company can enter a three million dollar, debt financed, commitment to sell a new line of watches that could potentially save their business. This presents an ethical dilemma, does the jewelry business enter the commitment knowing they do not have the funds to meet it? The act that would the greatest good, or rather the fewest negative repercussions, for the greatest number would be to purchase the inventory from Rolex in hopes it would solidify their
As your chief executive officer, I feel the professional obligation to bring some concerns to your attention. Ferguson Enterprises strives to maintain the motto “Nobody expects more from us than we do.” I would like to reiterate the importance of this statement in an ethical sense. Ethics is the proper practices and policies regarding potentially controversial issues, such as corporate governance, bribery, discrimination, and fiduciary responsibilities. Good ethical conduct is not merely required; it is expected from each individual who represents Ferguson.
... with adequate funds to make the payments would have no issue with the payment plan provided by the contract. Since some reasonable consumers would have no problem with the payment plan provided by the contract, the contract should not deemed unconscionable, and thus should be enforceable.
“At the end of the three and a half years the business owed me two years of back salary. I remortgaged the house; I was maxed out on the line of credit, and running out of options.”
A legal discussion of the contractual breaches and their related legal elements will be examined in this section. Some of the legal issues surrounding the contractual breaches include, the legal implications of the Uniform Commercial Code (U.C.C.), the defendant’s engagement in and outputs contract while under a requirements contract with my company, the doctrine of estoppel, and the issues of good faith and fair dealing. The definitions and some of the legal implications of the implied and requirements contracts were discussed in the preceding sections. An implied contract is defined as a “contract that is established by the conduct of a party rather than by the party’s written or spoken words” (Kubasek, Brennan, & Browne, 2015,
America’s winemakers are making superior wines and reaping global acclaim. In a single generation the United States wine industry’s global success is a fascinating story of entrepreneurial vision and savvy marketing. The American industry has new innovations, new competition, and new markets, which make the future look bright for the wine industry.
Business morals are a type of expert morals that analyzes moral standards and morals or honorable issues that emerge in a matter. Business morals apply to all parts of business behavior and its pertinence to the behavior of people and business association in general. This paper will focus on whether or not Ramona Alexander should sign a contract with Next Step Herbal Health Company. I will outline discussion points and draw my conclusion from the following ethical concepts, integrity, honesty, business code of ethics, and biblical, to suppose my decision as to why I would advise Ramona against signing a contract with Next Step Herbal Health.
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
Erica contracted to purchase a giant 72” television from Hometown Electronics with the delivery included in the purchase. Thus, Erica had a contract for goods and services where the sale of the good predominates and is covered under UCC Article 2 (Business Law II, Week II, Nature and Form of Sales, 2014) (U.C.C. - ARTICLE 2 - SALES (2002)). If Erica had participated in a cash sale that was concurrent that did not require delivery she would have taken possession of the goods at the time of sale (Twomey & Jennings, , 2011, pp. 381, 539). This concurrent condition did not occur as Erica and Hometown Electronics had a verbal agreement for the delivery of the television to her home. Per UCC Article 2 there is a supports this subsequent condition by the fact that Hometown electronics acted upon this condition as additional terms of acceptance in attempting to deliver the television (Twomey & Jennings, , 2011, pp. 380, 471) (U.C.C. - ARTICLE 2 - SALES (2002)).
As a new member of the Company X family, there are sets of rules and regulations that every employee must adhere to in order to be successful while performing daily duties, maintain safety within the working environment, and positively contribute to the progress of the company. Standards and procedures are set forth by the company’s leadership as an effort to ensure safety and productivity of employees. Each employee must: