Business Management
1. 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 are actually enforceable as contracts in a court of law; a 25-page written and notarized agreement is not always required. Define the following contract terms.
• Common Law Contracts
• Uniform Commercial Code Contracts
• Void Contracts
• Voidable Contracts
• Quasi Contract
• Executory Contract
• Executed Contract
2. Discuss the purposes of unions and whether they are effective tools to serve their purposes. Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.
3. Should a drug manufacturer that holds a patent on a drug that is very effective for many AIDS patients be able to sell that drug well above its cost of production during the period of patent protection? If so, under what circumstances? Should these companies sell, or be required to sell, these drugs at lower prices to persons in poor nations that have a larger problem with AIDS than the United States? Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics
4. The World Trade Organization, or WTO, is the largest and most influential of the trade organizations. China and other heavy counterfeiting nations are part of this group. What could WTO-participating nations do to address the problems of counterfeiting? What should they do? Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.