The Sarbanes-Oxley Act

Chapter 5: the Sarbanes- Oxley act of 2002 involved the public anger that started when Enron, WorldCom, and other big companies scandals. This is when there was support for white collar crime when it came to accounting standards. Under the law of federal sentencing rules to make sure that white collar criminals are being punished. (Barnes, 2012). 1. For someone to alter or get rid of documents and there intensions to obstruct or effect the crime/case. 2. The CEO (chief executive officer) and the CFO (chief financial officer) must clarify that repots have been submitted to the SEC (securities and exchange commission.) it is a crime if the CEO and CFO make a report that is false. 3 CEO and CFO must reimburse the company for any raises and if
the financial reports are misleading due to misconduct. 4.
It is felony to cheat shareholders on the attention for a traded company. 5. Whistleblowing is an anonymous person reporting what is happening. The person who blows the whistle on the employer are offered legal help/protection. If a person is convicted for bad behavior the state must provide (Barnes, 2012). 1. Show a prior statutory prohibition of that action/act.2.have proof beyond a reasonable doubt that the defendant committed the crime prohibited by the statue. 3. Prove the defendant had ability to do that horrible act. RICO (Racketeer Influenced and Corrupt Organizations Act) this act was passed by congress as part of the organized crime control act of 1970. This act was created to stop organized crime in business enterprises (Barnes, 2012). RICO cases involved white-collar crimes which included security fraud, mail fraud and wire fraud. RICO is one of the most controversial topics affecting
business.
Chapter 6: Battery is an intentional, unconsented to touching that is harmful or offensive, protects that interest. (Barnes, 2012). An example would be that John is angry at Mark for not paying back the money John lent Mark, as a result they get into an argument and John punches mark in the face. John is arrested and charged with battery and could be liable for paying Marks medical bills. Assault is putting the immediate threat to their own physical safety. The tort of false imprisonment protects both physical and mental freedom interests. (Barnes, 2012). Confinement happens when a person limits someone else freedom of movement. Most cases today of false imprisonment involves shoplifting. Today stores have a conditional privilege to stop people who they think are shoplifting as long as they use this power the right way and can only keep shoplifters for a certain amount of time. But stores can be held liable for false imprisonment and for punitive damages. (Barnes, 2012). When someone goes onto someone else’s land without permission than they are trespassing. Unless they are given permission by the owner of the land. Interference with personal property includes 1. Does harm to the property. 2. Deprives the possessor of the use for a certain amount of time. Conversion is an unlawful by taking control over the personal property of another person. The person who unlawfully takes possessions from some else is liable for conversion even though person who took the possessions assumes they are entitle to the possessions. The same is true for people who know it is wrong to sell, mortgage, lease, or use the goods of another person. When someone uses a false statements about the personal behavior of a person’s business are covered by the tort of defamation quality of a product or service or the sellers goods that are offered or sold. This may be a form of disparagement. To prove the actual damages you need a good disparagement action.

Chapter 7: Negligence is an unintentional breach of duty that results in harm to another person (Barnes, 2012). There are a few things a plaintiff must prove 1. That the other person involved had a duty to not hurt the plaintiff. 2. The other person involved breached that duty. 3. That the other person involved was actually a cause of the plaintiffs injures. An example would be that a nurse who works at a nursing home forgot to give food to a patient who is unable to eat and needs assistance because of this the patient starved to death the nurse could be held accountable for criminal negligent. (Your Dictionary, 2018) Res ipsa loquitur means the thing that speaks for itself (Barnes, 2012). Res ipsa loquitur TransLegal (2017) can be hard to prove because the evidence was ruined after the accident, most cases usually involve plane crashes or product liability cases. During a case the defendant most have evidence to prove that they were not reliable for the injury they caused by their negligence. If the defendant fails to do this they could be found liable. An example would be a patient needed surgery and after a few weeks after the surgery the patient still has pain and goes back to the doctor they take an x-ray and find a surgical knife that was sewn up during the surgery. In this case there was no reason other than the doctor’s negligence that a surgical knife was left in the patient. So if the patient decides to sue the doctor or the hospital he/she have to prove that the doctor was negligent in leaving a surgical knife in a patient. In that case the doctor or hospital must prove that there was some other reason that the doctor was not negligent for leaving the surgical knife in the patient after the surgery was completed. Strict liability means that someone is responsibility for the certain activities that result in any harm to other people regardless of the most maximum care and caution. Strict liability can be described as liability with-out fault. Strict liability for manufactos of a faulty product are unhelpful and dangerous, which means they are useable for consumers and must be sent back to the manufacor and redone to meet customer’s needs.
Chapter 8: A patent gives the owner of that product the mains rights to make, sell or use the invention during the time limit that is given. Most patents are given 20 years from the day the filed the papers for the patent. The good thing about a patent is it gives the company an upper-hand over the competitors. A patent is a good way for companies to create new products and technology. A trademark is a word, name, or symbol that business use to differenate its goods and services from the competitors (Barnes, 2012). A trademark owner could lose the rights to a word, name, or symbol if it becomes well known that it has a generic meaning. This happened to a mediciae that was a pain reliever called aspirin. Another example is Coco Chanel she used her name as a trademark and people know her to be a well know name in the purse industry. Widerman Milek(2018) The product that Coco Chanel purses are known to have good quality craftsmanship which makes her products more known than an genic product Trade secrets are usually developed by business and their activities. This is sometimes called known- how or propriety information. Trade secrets include secret formulas, devices, processes, techniques and compilations information (Barnes, 2012). Some companies will try to keep a trade secret of a product under wraps where only a few people know the secret, or they may use a patent which has a short/ limited time period. If the does have a trade secret protection it could last forever if nobody can discover the secret. An example of this is the formula for coca cola. Copyrights forbid reproduction of creative works such as books, drawings, magazines, pomes, paintings and music compositions, sound recordings films, and DVDs (Barnes, 2012). Most of the world a little to no protection on computer software. Copy rights mostly lasts for the life of the inventor plus an additional 70 years. However over the years some rules have changed on how long a copyrights may last it varies on the copy right
Chapter 9: The good faith and fair dealing in Article 2 the code makes sure that everyone has a job on keeping agreements under the article code of good faith. It knows about the concept of an unconscionable contract that is unfair and one sided that gives courts the power to correct such unfairness. There are 4 types of contracts that were mentioned in this chapter (Barnes, 2012). 1. A valid contract meets all the legal requirements and is enforceable in court. 2. Unenforceable contract will meet legal requirements but is not enforced due to other legal rules.3. A voidable contract is when one or both parties can cancel the contract and it is enforceable against both parties unless a party has the right to cancel the contract.4.the void contract lacks many requirements for a contract that the agreement between both parties has no legal force. A contract is a legal and enforceable promise or set of promises (Barnes, 2012). Eventually the court has created requirements that must be met in order for a promise to be consider a contract. A contract should consist of 1. An agreement which includes an offer and someone accepting that offer. 2. Supports the offer with consideration but has some exceptions. 3. The person enters into a contract knowing what they are getting into. 4. All parties have the capacity to contract. 5. Do legal act or acts this involves a written contract. When a contract is executed all parties have fulfilled or accomplished under the. A contract is executory as long has the parts have not been completely accomplished. A contract is almost executory when one party has fulfilled their agreement of the contract but the other party did not perform theirs. An express contract is when both parties have both confirmed the terms at the moment the contract was formed. Both parties may have done this orally or in writing (Barnes, 2012). An example of this would be your neighbor is selling a 1999 jeep for 9,000so the neighbor tell you the most they will go down is 8,500 and you agree and say that’s a deal that would be an example of an expressed contract.
Chapter 10: there are ads for reward for the lost property, information and the arrest of criminals
(Barnes, 2012). An offer is will go into a contract if the other party agrees to the terms. The party who made the offer is the offeror.
They are the party who made the offer. The offeree is the party that can chose to accept the offer that the offeror has made. It is crucial that the terms of the offer contain all the teams of the contract because in many cases the offeree dose is approve of the offer. There offers are usually unilateral contracts. That method the offeree must complete the act which includes return lost property, give the information that is needed, or catch the wanted criminal. Auctions- sellers are mainly the ones making the invitation to the offer. Bidders on the other hand are treated as offerors by making bids that the seller can accept or reject. When the offer is accepted the auctioneer makes it known that the good is sold. There has been dispute in the following years from the growth of shrink-wrap agreements by the dealer of computer software. (Barnes, 2012). Most of the time a buyer buys the software in form of a disk or cd. These dicks are shrink-wrapped and have a label that say once opened you agree to the terms of the licensing agreement. This term is known as shrink-wrap contracting. There have been discussions that raises questions about how ethical troubles and how some consumers may not fully understand. Is that by opening the product and in this case the software they are accepting the terms of the agreement. Most shrink wrap agreements are required unless it breaks the contract rules such as unconscionability. For terms of an offer the
offer itself many have a time limit. The term could in include the number of days an offer is good for or that you must accept the offer by a certain date. The other common terms are by the return date or immediate response (Barnes, 2012). However the more general the term can be hard for the courts to decide because they don’t know whether or not the offeree accepted in the amount of time that is given.