2. In 1977, following the disclosure of Gulf Oil Corporation's $4,000,000 payment to the President of South Korea, and other oil companies questionable payments in foreign countries, the U.S. Congress (under the watch of Jimmy Carter who found "bribes to be morally wrong and ethically repugnant") enacted the Foreign Corrupt Practices Act (FCPA). State specifically what was the original prohibition under the FCPA (one or two sentences). Over the years, the FCPA has been amended to expand the prohibitions. Itemize and define these additional restrictions, i.e. Define Excess Gifts, Elaborate Travel and "Grease Payments".
3. Prior to the 1935 Case of "McPhearson v. Buick Motors", manufacturers had little or no liability exposure for malfunctions of their products that lead to injuries or death to individuals from said product failure. What was the specific problem associated with the new Buick Automobile, and what two alternative legal claims did Buick Motors direct Mr. MacPhearson to pursue as opposed to his claim against them? What specific legal liability regarding manufactured products developed from this case, and what is its lasting effect in today's world of consumer products?
4. Frequently business people, or just any individual, fail to realize the importance of contracts in their daily lives. Many casual agreements in our day-to-day lives. Many casual agreements in our day-to-day lives are actually enforceable as contracts in a court of law; a 25 page written and notarized agreement is not always required. To demonstrate the importance of contracts, please begin by listing defining the three required elements of a contract needed for enforcing it in court. The enforcement of the contracts then leads to the next questions of whether a contract is enforceable under the Common Law, or under the Uniform Commercial Code? Define this issue. As a final segment of this question, please define the following contract terms:
a. Void
b. Voidable
c. Quasi Contract
d. Executory Contract
e. Executed Contract
f. Mail Box Rule
8. Court Process versus ADR: The Federal and State Court Systems throughout the U.S. have become overwhelmed with the backlog of cases awaiting access to trial court. Much of this is attributed to two factors: 1) the United States has 5% of the world's population, but 65% of the world's lawyers; and 2) 95% of our cases are settled before going to trial, but 95% of the 95% are steeled on the courthouse steps just before the case goes to trial. Therefore there is a growing demand for Alternate Dispute Resolution is also increasingly popular in the international business environment. List and define the three most attractive forms of Alternate Dispute Resolution (ADR), and the attractions that they provide over the typical court trial procedure to substitute for our traditional court process.