What are your rights related to the contract?

Business Law for Commercial Transactions Week 2 Assignment 1

Assignment 1: Discussion Questions

The discussion assignment provides a forum for discussing relevant topics for this week based on the course competencies covered. To support your work, use the textbook, lectures and scholarly outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format. Post the answers to both parts in one discussion post and do not attach documents.

The discussion assignment consists of two parts.Select one of the two questions for Part 1 and answer Part 2.By Saturday, May 21, 2016, submit your answers to Part 1 and Part 2 to this Discussion Area. Start reviewing and responding to your classmates as early in the week as possible. You should review and critique the work of other students in as outlined in the rubric by Wednesday, May 25, 2016.

Discussion Question Part I

Select ONEof the scenarios below and explain the best solution.

Scenario 1 – Accountant’s Liability

Martha Bennett, CPA, was hired to prepare audited financial statements for Feed Poor Children (FPC), a nonprofit organization that provided hope, food and other resources to those in need in all 50 states and internationally. The president of FPC was embezzling funds and family members often took boxes of food for themselves; however, the president falsified the records that Bennett used in her audit. Regions Bank authorized a loan to FPC for $200,000 based on Bennett’s certified financials. The embezzlement was discovered and FPC defaulted on the loan. Afraid the bad publicity would affect donors, the board members wanted to keep the embezzlement quiet.

  • What arguments can Regions Bank make in an effort to recover the loss from Bennett?
  • What arguments can Bennett make in her defense?
  • Should the board members try to keep the embezzlement quiet? Why or why not?

Scenario 2 – Corporations and Criminal Liability

“Officers and directors, as well as the corporation itself, may be criminally accountable for business regulatory offenses” (Twomey & Jennings, 2014, p. 1091).

Locate a business that has been convicted of a criminal offense. The Department of Justice is a good place to start your research. Provide the following information.

  • Name of company
  • Illegal acts committed and criminal charges filed
  • Outcome, including fines and other punishments
  • Were any individuals charged and convicted? If so, please explain.

Discussion Question Part II

Consider the business you created in Week 1. In two to three paragraphs, address the following topics.

  • Select one of the products or services your company will provide. What type of warranty will you provide (express, implied, disclaimed)? Explain.
  • Identify something you need to purchase for your business that costs at least $1,000. The purchase may consist of multiple items as long as the value meets the minimum requirements. You are responsible for making the shipping arrangements to have a trucker pick up your purchase at the seller’s warehouse and deliver to you place of business. Which delivery and shipping term(s) apply to the shipment? Select a trucking company, locate their contract terms regarding the limit of liability for damages. What amount is the trucking company liable for in the even your goods are damaged?
  • Assume you purchased specially made steel articles in the shape of your company’s logo to give out at a conference in five weeks. Because the items are being manufactured specifically for your company, you paid 50% of the $15,000 purchase price up front. The supplier notifies you 10 days before the conference that the shipment will be delayed because the goods were loaded on a truck that was destroyed in an accident involving a train. What are your rights related to the contract?
Homework Market
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Homework Market

HomeworkMarket

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Homework Market

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

HomeworkMarket

Unlimited Revision

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

HomeworkMarket

Timely Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

HomeworkMarket

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

HomeworkMarket

Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Homework Market

Place your order

Fill in the order form and provide all details of your assignment.

Homework Market

Proceed with the payment

Choose the payment system that suits you most.

Homework Market

Receive the final file

Once your paper is ready, we will email it to you.

Homework Market Writing Services

No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.

HomeworkMarket HomeworkMrket

Essays

Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

HomeworkMarket HomeworkMarket

Admissions

Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

HomeworkMarket HomeworkMarket

Editing

Essay Editing

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

HomeworkMarket HomeworkMarket

Research Paper

Research Paper

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.