(a)
Case summary: Person BS formed a company CI. The company bought more than 2.2 million bounced checks on their face value and levied a charge of
To find: The violation of FDCPA by the methods used by company CI.
Case summary: Person BS formed a company CI. The company bought more than 2.2 million bounced checks on their face value and levied a charge of
To find : The ethics of company CI.
Case summary:Person BS formed a company CI. The company bought more than 2.2 million bounced checks on their face value and levied a charge of
To find :The argument of company CI.
Case summary:Person BS formed a company CI. The company bought more than 2.2 million bounced checks on their face value and levied a charge of
To find :Whether deadbeats are primary beneficieries under FDCPA.
Case summary:Person BS formed a company CI. The company bought more than 2.2 million bounced checks on their face value and levied a charge of
To find :The characterization of deadbeats under FDCPA.
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Chapter 24 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
- Draft a memo from general manager to the finance officer of fair&lovely cosmetics private limited on the subject of purchase of beauty chemicals.arrow_forwardThe U.S. Securities and Exchange Commission (SEC) released its final rule to implement a code of ethics under SOX Title 404. The stock exchanges have proposed that each company listed on the exchanges publish its code of ethics. Discuss how disclosures of a code of ethics by senior management could have a positive effect on public confidence and influence investors' behavior. Discuss the consequences of not establishing a code of ethics. Support your position. Evaluate the importance of senior management in setting the tone for the application of the company's code of ethics and promoting positive employee behavior, improved decision making, or the willingness to report unethical behavior of coworkers. Recommend at least two policies that might encourage employees to report unethical behavior.arrow_forwardCompany A’s interest ratio has fallen below the level required by its lender. The lender may not take which action? Multiple Choice Gain representation on the company’s board of directors. Replace the CEO of the company. Demand repayment of the loan. Veto payment of a dividend.arrow_forward
- Red Cross insurance company provide 8 million Americans with health-care financing. They paid millions of dollars for care attributable to illnesses related to tobacco use. In 1998, to recover some of this money, they sued the tobacco companies alleging fraud. They claimed that since 1953 the defendants conspired to addict millions of Americans to cigarettes and other tobacco products by misrepresenting the safety of nicotine and its addictive properties. The defendants’ success caused lung, throat, and other cancers, as well as heart disease, stroke, emphysema, and other illnesses to members of Red Cross plans, which Red Cross was required to pay. At trial, the defendants asked the court to dismiss the case on the ground that the plaintiffs did not have standing to sue. Does Red Cross have standing in this case? © a. No, Red Cross does not have standing because their claim should be filed against the insured who chose to smoke and risked these illnesses. b.…arrow_forward3. Regulation of private pension plans Which of the following are provided by federal regulations of private pension plans? Check all that apply. Insurance of all participants in private defined-benefit plans to receive their benefits upon retirement Transferability of vested pension funds upon a change of employment Insurance of only executive employees participating in private defined-benefit plans to receive their benefits upon retirement Insurance of all participants in private defined-contribution plans to receive their benefits upon retirement Tax benefits only for executive employees Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powersarrow_forwardPlease do not give solution in image formate thanku.arrow_forward
- What are the criminal penalties incorporated by the Congress for violating the Securities Exchange Act of 1934?arrow_forwardRead and analyze the following situation.Bernard J. Ebbers, chief executive officer and founder of the telecommunications giant, WorldCom, owed the corporation $375 million for a loan secured by shares he owned in the company. The value of the company's stock was declining, to the point that the value of its shares was less than the amount of the loan. On February 2, 2002, Mr. Ebbers engaged in a series of communications with leading Wall Street stock analysts, whose opinions helped drive up the stock price, to refute negative news about the company's financial condition. , which was frightening investors. That day, the company's shares increased by 12% in value. Four months later, the company filed for bankruptcy protection due to its precarious economic condition. Answer the following questions:Are the actions mentioned above illegal? Are they unethical? Support and explain your answer. What is the difference between an illegal action and an unethical one? Support and explain your…arrow_forwardABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the PDIC. Will the claim prosper? Answer with reasons.arrow_forward
- Corporate Governance involves a set of relationships between a company's management, its board, its shareholders and other stakeholders. Corporate Governance also provides the structure through which the objective of the company are set, and the means of attaining those objectives and monitoring performance are determined. Using any of the defunct banks you may have heard of, justify how this difinition is in line or deviates from good corporate Governance as exhibited by the leadership of the Bank. Dicusss?arrow_forwardBUSINESS IN UK Edward Waters was employed by a national stationers but was made redundant in January 2005. He spent months searching for another job, but eventually gave up and decided to set up his own business. He had always been a film buff and opened up a DUD rental shop in Cardiff. In a room above the shop he opened up a Mall café. He used £6,000 of his own savings anti a £2,000 bank loan to meet the set up costs. He also qualified for £40 per week from the government's Enterprise Allowance Scheme. Edward employed two part firm students to help out in the café on weekends anti school holidays. After a slow star business picked up al d his cafe gained popularity with students from local colleges. He spotted at opportunity aid lowered prices slightly to encourage even more students to After one year he extended his bank loan to £3,000 anti bought some more kitchen equipment to provide substantial lunch time meals. Again he kept prices low and targeted the student market. The…arrow_forwardChad Boudreaux is a 58-year riverboat captain. He grew up in New Orleans and has worked on the Mississippi River his entire life. He works for a private company in New Orleans called Crescent River Pilots Inc. (CRP) and is married to Patricia, who is 35 years old. They have a seven-year-old son, named River. CRP sponsors a 401(k) plan that offers a Roth account and a separate ESOP. Chad has the following retirement plan accounts: Account Description Current FMV Beneficiary ESOP account from CRP – consists of CRP shares. The cost basis for the shares is $75,000. $400,000 Patricia 401 (k) Plan From CRP Inc. $800,000 Patricia 401 (k) Plan from Schlumberger, where he worked in his thirties $90,000 Patricia Roth IRA (established in 2000 with a $2000 initial contribution; three years ago he rolled over a traditional IRA with a balance of $10,000 $45,000 Patricia Traditional IRA (established twenty years ago with $15,000 of after-tax contributions)…arrow_forward
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