...Millan v. Dean Witter Reynolds, Inc. Plaintiff: Maria Millan Defendant: Miguel Millan, Dean Witter Reynolds, Inc. Appellant: Maria Millan Appellee: Dean Witter Reynolds, Inc. Trial court winner: Dean Witter Reynolds, Inc. Lower appellate winner: Dean Witter Reynolds, Inc. Winner of this decision: Dean Witter Reynolds, Inc. Facts: Miguel Millan was an employee of Dean Witter Reynolds, Inc. His mother, Maria Millan, opened two brokerage accounts at her son’s place of business. During a three year time frame, Miguel Millan took $287,000 from his mother’s account without her permission. As a result, Maria Millan sued both her son and the company for unauthorized transactions and negligence. Plaintiff’s theory: Miguel Millan was not an authorized user of the accounts and should be responsible for damages. The company did not adhere to its own written policy at a time where a check for a large sum was written, thus they should also be responsible. Defendant’s theory: The money was taken over a three year time period, so the plaintiff should have been aware of the issue sooner. Legal issue: Was Dean Witter Reynolds responsible for discovering the fraud on the account? Holding of the court: Dean Witter Reynolds was partially responsible for the incidents to the tune of 15% of her damages. My thoughts: I think this decision was unfair to Maria Millan. She trusted her son Miguel to take proper care of her accounts, although I see this situation as...
Words: 1131 - Pages: 5
...How does a Multipoint circuit differ from a point to point circuit? Multipoint is also called a shared circuit. In this configuration, many computers are connected on the same circuit. This means that each must share the circuit with the others, much like a party line in telephone communication. The disadvantage is that only one computer can use the circuit at a time. When computer is sending or receiving data, all others must wait. The advantage of multipoint circuits is that they reduce the amount of cable required and typically use the available communication circuit more efficiently. Multipoint configurations are cheaper than point-to-point configurations. Point-to-point configuration is so named because it goes from one point to another (e.g., one computer to another). These are also called as dedicated circuits because they are dedicated to the use of these two computers. This type of configuration is used when the computers generate enough data to fill the capacity of the communication circuit. This can get very expensive, particularly if there is some distance between the computers. 3. Describe Three types of guided media. Guided media are those in which the message flows through a physical media such as a twisted pair wire, coaxial cable, or fiber-optic cable. a. Twisted pair wire is most commonly used. It is a pair of wires used in standard telephone wiring. They are twisted to reduce interference caused by the other twisted pairs in the same cable bundle...
Words: 507 - Pages: 3
...Unit Two Assignment – Why is Strategy Important to Business? Your Name Kaplan University School of Business and Management MT460-02 Management Policy and Strategy Dr. Daniel K. Dayton Date Unit Two Assignment – Why is Strategy Important to Business? This assignment will address why strategy is important to business. One will address the primary components of strategic management in the process of discussing the significance of strategy for business. Strategy is defined as the best practice of figuring out the best way to get from here to there (Arauz, 2012). According to Pearce and Robinson (2010), strategic management is defined as the set of decisions and activities that lead to the formulation and implementation of plans that have the purpose to achieve a company’s goals. Strategic management has nine important components to help an organization do a better hob. The first component is to devise the business mission, including statements about the reasoning for the mission, the philosophy, and also the goals. The second component is to perform an analysis that exposes a corporation’s internal conditions and capabilities. This component is known as the SWOT analysis, where the strengths, weaknesses, opportunities, and threats, are evaluated. The next task in a strategic management process would be assessing the company’s external environment, considering both the competition and the general contextual factors. Consequently, this task may be part of...
Words: 755 - Pages: 4
...Business Law Week 2 Assignment 14.2 Real Property In the case of Briggs v. Sackett, the Sacketts win the case. The parties entered into an oral collateral contract for Briggs to sell his house to the Sacketts under the conditions that the Sacketts pay the three months’ arrearages on the loan and agree to make future payments on the mortgage. After fifteen years Briggs filed an action to void the oral contract as in violation of the Statute of Frauds. Although the Statute of Frauds requires collateral contracts to be in writing, there is an exception that overrides this requirement. “The main purpose exception is an exception to the Statute of Frauds which states that if the main purpose of a transaction and an oral collateral contract is to provide pecuniary benefit to the guarantor, the collateral contract does not have to be in writing to be enforced.”(Cheeseman 222) The Sacketts indeed provided a pecuniary benefit to the Briggs by helping them catch up on past due payments and keeping the payments current for fifteen years. The main purpose exception overrides the Statute of Frauds and therefore the Sacketts win. 16.10 Intentional Interference with Contractual Relations The case between PG & E v. Bear Stearns is an example of “a tort that arises when a third party induces a contracting party to breach the contract with another party.” (Cheeseman 257) PG & E can sue Bear Stearns based on the basis of the intentional interference with contractual relations...
Words: 714 - Pages: 3
...13–2. Statute of Frauds. Gemma promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforceable? Why or why not? (See The Writing Requirement.) Answer: Yes, the promise must be in writing in order for it to be enforceable. Gemma is assuming a secondary obligation, in which she states she will pay for a lawn mower that her brother is purchasing on credit if he fails to pay it. A secondary obligation is mandatory for enforceability. 13–4. Statute of Frauds. Newmark & Co. Real Estate, Inc., contacted 2615 East 17 Street Realty, LLC, to lease certain real property on behalf of a client. Newmark e-mailed the landlord a separate agreement for...
Words: 1439 - Pages: 6
...8.By contract dated May I, Rob agreed to sell to Nancy, and Nancy agreed to buy from Rob, a certain house located at 10 Melbourne Road. At the time she signed the contact, Nancy transferred to Rob a deposit equal to I 0% of the purchase price. The contract stated that closing and transfer of the property would occur on or before July I5. Nancy's finances were such that she needed to obtain a loan to pay the full purchase price for the house. Pursuant to the terms of the contract, Nancy was to obtain financing for the house in an amount of $180,000. The contract stated that Nancy was to apply for such financing in good faith within 7 days of the signing of the contract. It further stated that if Nancy could not obtain $180,000 in financing from a bank, savings bank, or savings and loan association, then Nancy could cancel the contract and recover her deposit. (a)On May 5, Nancy applied for the $I80,000 loan in good faith, but on July 1, the bank notified her that she would only be allowed a loan of $50,000. Rob demands that Nancy close on the purchase and sale of the house on July 15 and Nancy sues Rob for return of her deposit. Judgment for whom? Explain. Answer: Judgment for Nancy. It’s because contractual promises are conditioned, in which there is a qualification in a contract based on a possible future event, the occurrence or nonoccurrence that will trigger the performance of a legal obligation or terminate an existing obligation. Since Nancy was not able to meet her...
Words: 947 - Pages: 4
...Work Submitted to the Ramon V. Del Rosario College of Business De La Salle University – Manila In Partial Fulfillment Of the requirements in BUS520M Business Law Submitted by: GROUP 4 Amparo, Lourdes Lagman, Mia Marie Legaspi, Jill Noreen Submitted to: Atty. Antonio Ligon April 6, 2016 I. Background 1. Philippine Business a. History 2. Doing business in the Philippines b. Forms of business 3. Definition and Origin of Joint Venture (JV) II. Statement of the Problems 1. What are the applicable laws in joint ventures? 2. What are the tax implications? 3. Are our current joint venture laws sufficient? Especially with the Asean integration? III. Statement of Objectives The research study aims to: 1. Identify the applicable laws in joint ventures 2. Identify the tax implications in joint ventures 3. Identify insufficiencies (if any) in our current joint venture laws and make recommendations IV. Discussion 1. Nature of Joint Ventures in Philippine setting 2. Governing Laws 3. Foreign Investments 4. Scope of Joint Venture Business Activity 5. Taxes in Joint Venture 6. Example of JVs in the Philippines V. Analyses VI. Recommendations VII. Learning Points VIII. References I. Background of Philippine Business History Historians state that the early start of business in the Philippines dated back in the 14th century, however...
Words: 6012 - Pages: 25
...Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS311 ALL DQS ASSIGNMENTS AND QUIZZES To purchase this visit following link: http://www.activitymode.com/product/bus311-all-dqs-assignments-and-quizzes/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS311 ALL DQS ASSIGNMENTS AND QUIZZES To purchase this visit following link: http://www.activitymode.com/product/bus311-all-dqs-assignments-and-quizzes/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS...
Words: 822 - Pages: 4
...Act, the Negotiable Instruments Law, the Uniform Warehouse Receipts Act, the Uniform Bills of Lading Act, the Uniform Stock Transfer Act, the Uniform Trust Receipts Act, and numerous other statutes. Massachusetts thus became the second state to enact the Code, following the lead of Pennsylvania, where the Code, enacted in April 1953, took effect on July 1, 1954. In March 1958 the Code was enacted in Kentucky, effective July 1, 1960. Proposals to enact the Code will undoubtedly come before legislatures in other states in the course of the next few years, and it seems likely that several other states will join the procession at their 1959 sessions (Braucher, 1958). The Uniform Commercial Code (UCC or the Code), first published in 1952, is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. The Uniform Commercial Code, or UCC, is a very large collection of legal rules regarding many important business, or “commercial,” activities. The UCC originally was created by two national nongovernmental legal organizations: the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI) (Steingold, 2013). As the word “Uniform” in its title suggests, a primary purpose of the UCC is to make business activities more predictable and efficient by making business laws highly consistent across all American...
Words: 3509 - Pages: 15
...us/product/bus-311-dqs-assignments-quizzes-2/ Contact us at: SUPPORT@WISEAMERICAN.US BUS 311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS 311 Week 4 Business Ethics – Journal BUS 311 Week 4 DQ 1 Real, Intellectual, and Personal Property BUS 311 Week 4 DQ 2 Business Ethics BUS 311 Week 4 Multimedia activity Business Organization BUS 311 Week 5 DQ 1 Intellectual Property and Technology BUS 311 Week 5 DQ 2 The Global Marketplace BUS 311 Week 5 Final Paper BUS 311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS 311 Week 4 Business Ethics – Journal BUS 311...
Words: 366 - Pages: 2
...MODULE -2 Business Organisations Notes 5 FORMS OF BUSINESS ORGANISATION ou have studied in the first lesson about the business, its significance and the classification of business activities. You are also aware that these activities are carried out by individuals in an organised form of a business house having different patterns of ownership and management. A single individual may own the business or a number of individuals may come together to own the business jointly. So, based on ownership, we have different forms of business organisation like a proprietary concern, a partnership firm or a company. In this lesson, you will learn about the various forms of business organisation (excluding a joint stock company), their characteristics, merits and limitations, suitability and the steps involved in their formation. Y OBJECTIVES After studying this lesson, you will be able to: • • • • • explain the concept of business organisation; state the meaning and characteristics of Sole Proprietorship, Partnership, Joint Hindu Family Business and Cooperative Societies. identify the merits and limitations of these forms of business organisation; describe the suitability of these forms of business organisation; and explain the steps in the formation of these business organisation. 5.1 BUSINESS ORGANISATION You have already learnt about the meaning of business and the various types of business activities like industry, trade, transport, banking, insurance etc. If you observe...
Words: 10847 - Pages: 44
...PRINCIPLES 2 A.) Efficiency and Other Concepts 2 B.) Agency and Partnership Law 2 II.) INTRODUCTION TO THE CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations Under Federal Securities Laws 67 C.) Shareholder Litigation 76 IV.) Structural Changes 85 A.) Transactions in Control 85 B.) Mergers and Acquisitions 86 1.) Mergers 87 2.) Sale of Assets 93 3.) Asset Purchase or Tender Offer 94 C.) Public Control Contests 96 1.) The Poison Pill 100 2.) Enhanced Review When Business is Up for Sale 103 3.) Proxy Contests for Corporate Control 106 4.) Protecting the Deal: Shareholder Lockup Agreements 109 I.) INTRODUCTORY PRINCIPLES • Definitions o Corporate Law: The allocation of rights and power within a corporation; the internal body of law ▪ Addresses the creation of economic wealth through the facilitation of voluntary, ongoing collective action ▪ Flexible- expectation that market discipline will weed out what is not working ▪ Principle aim- reduce agency costs of all sorts o Securities Law: Regulates capital markets that corporations use to obtain funding o Firm: A form of business relation...
Words: 62796 - Pages: 252
...A++PAPER;http://www.homeworkproviders.com/shop/acc-561-week-2/ ACC 561 WEEK 2 You are interested in establishing a small business, and you must decide which form of business organization would best suit your unique product or service. Consider legal, tax, accounting, and other implications when selecting from the four business types. Write a paper of no more than 1,250 words discussing your small-business idea. Include the following: The advantages and disadvantages of the different forms of business organization, which include the following: Sole proprietorship Partnership C corporation S corporation The different types of financial statements required by law with each form of business organization, including different names for the equity sections. This does not mean an overview of what is on each statement. What entities are required by law to have statements and what is the difference in the equity? The following consequences associated with each form of business organization: Tax implications Legal implications Accounting implications, such as SOX, GAAP and FASB An explanation of the unique product or service your small business provides Your choice of business organization form for your new business Your rationale for choosing this form of business organization For tax implications for each entity, your book only says that some entities have advantages. Do some research to determine what the tax advantages and...
Words: 342 - Pages: 2
...Legal forms of business Legal forms of business University of Phoenix Law/531 Week 2 Donna McKenzie Stanley P. Santire March 17, 2012 Literature reporters stated that business preferences are based on availability in states of residences based on the preferred structure (Fordham Urban Law Journal, 2005). Prior to January 1, 1998, availability for individual business ownership was limited to SP (Sole Proprietorship) or corporations. The amendment of the limited liability company act now makes it permissible for a one person LLC (Limited Liability Company). (AAES Project, 1998). After reviewing the options for a business structure, I made the decision to be a sole proprietor. A $10,000 capital investment was placed in the business and the business was started. A large profit was made in the first year and the gain was reinvested in the business. The sale of nursing uniforms continued to grow and started to attract investors but these were turned down because my sole ownership does not require the rental of a building. Marketing is done by tweets, fax or other technological methods by the customers. This, in turn, attracts new business, both from organizations and the public. A preferred form of business for proprietorship is for small businesses similar to mine. The main reason for the choice of sole proprietorship is the size of the business. The advantages gained for this type of business include ease in starting the business, low legal fees, minimal paperwork and...
Words: 369 - Pages: 2
...Business Entities Lisa Ramos BUS311: Business Law I Instructor: July 28, 2014 Business Entities I. Introduction “Business owners are wise to consider the fundamental issue of organizational formbefore they become too deeply immersed in business operations.” (Rogers, 2012) When it comes the laws of business there are is a large range of categories and topics which include the type of entity to become and how it affects contracts, liabilities and tax information. We must be aware that there is more than just one type of entity and determining what type of business to become can have some legal implications and therefore must be reviewed thoroughly. II. Types of Entities A. Sole Proprietorships 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities B. Partnerships 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities C. Corporations 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities D. S Corporations 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities E. Limited Liability Company (LLC) 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities III. How are contracts enforceable? A. Five...
Words: 410 - Pages: 2
