Question.3086 - In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss. Write a five to six (5-6) page paper in which you: Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy. Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship. Compare and contrast the differences between intentional and negligent tort actions Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Describe the legal environment of business, the sources of American law, and the basis of authority for government to regulate business. Describe the elements of a contract and explain the basic provisions of contract law relative to offer, acceptance, capacity, legality, fraud, third-party rights, performance, and breach of contract. Explain the components of the Uniform Commercial Code (UCC) relative to sales and lease contracts and the basic provisions of the UCC addressing sales / lease contracts, title, risk, insurable interests, and the performance and breach of contracts. Use technology and information resources to research issues in business law. Write clearly and concisely about business law using proper writing mechanics.
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IntroductionThe xxxx for xxxxxxxxxx of xxxxxxxxxxx in xxxxxxxxxx has xxxx a xxxxxxx area xxx regulatory xxxxxxxxxxx Regulatory xxxxxxxx like xxxxxxxxxx and xxxxxxxx Commission xxx have xxxx working xx reduce xxxxxxxx and xxxxxxxxxxx trading xx the xxxxxx Equally xx is xxxxxxxxx to xxxxxxxxxx the xxxxxxxxxx of xxxxx contract xx draw xx points xxxxx creating xxxxx contracts xxxx might xxxx bankers xxx their xxxxxxx Breach xx trust xxx contractual xxxxxxxxxxx throws xx liabilities xx torts xxxxxxx In xxx world xx banking xxxxxx changes xx mobile xxxxxxxxxx has xxxxxxxxx the xxxxxx of xxxxxxxxxxxx transactions xxx a xxxxxx of xxxxxx still xxxxxx to xx taken xxxx of xx make xxxx transactions xxxxx This xxxxx looks xxxx the xxxxxxx aspects xxxxxxx to xxxxx issues xxxxxxxxxx high-risk xxxxxxx in xxxxxxxxxxxxx statutory xxxxxxxxxxx that xxxxxx protect xxx interests xx investors xxxx in xxx securities xxxxxx and xxxxxxxxxxx market xxx essential xx have x dynamic xxx vibrant xxxxxxxxx market xxxx of xxxxxxxxxx and xxxxxxxx CommissionThe xxxxxxxxxx and xxxxxxxx Commission xxx regulates xxx securities xxxxxx to xxxxxxx protection xx various xxxxxxxxx and xx ldquo xxxxxxx with xxx responsibility xxx the xxxxxxxxxxx and xxxxxxxxxxxxxx of xxx federal xxxxxxxxxx laws xxxxx Meiners xxxxxxx amp xxx Edwards xxxxxxx the xxxxxxxxxx Exchange xxx SEC xxxxxxxx the xxxxxxxxxxx of xxx securities xxxxxx and xxx participants xx the xxxxxx It xxxxxxxx instances xx financial xxxxxxxxxxx through xxxxxxxxx disclosures xxx filings xxxx of xxxx ldquo xxxx direct xxxxxx on xxxxxxxxx reporting xxxxx Albrecht xxxxx amp xxx Stice xxxxx curbs xxxxxxxxxxx trading xx the xxxxxx Elements xx valid xxxxxxxxxxxxxxxx is xxxxxxx as xxxxx a xxxxxxx binding xxxxxxxxx made xxxxxxx two xx more xxxxxx who xxxxxx it xx have x legal xxxxxx and xxx which xxx law xxxx provide x remedy xx the xxxxx of xxxxxx rdquo xxxx Thus xxxxxxxx requires xxxxxxxx a xxxxxxx binding xxxxxxxxxxxx between xxxxxxx to xxx agreement xxx main xxxxxxxx of xxxxx elements xx the xxxxxxxx are xxxxx competent xxxxxxx who xxxx a xxxxxx agreement xxxx genuine xxxxxx supported xx reciprocal xxxxxxxxxxxxx and xxxxx is xxxxx in xxxxxxxxx and xxxxxxxxx and xx the xxxxxxxxxx form xx law xxxxx Carper xxxxxxxx amp xxx West xxxxxxxxx PartiesThe xxxxx and xxxxxxxx element xx the xxxxx contract xx that xxx parties xx the xxxxxxxx must xxxx the xxxxx capacity xxx capability xx enter xxxx binding xxxxxxxxxx In xxxxxxx certain xxxxxxxxxx of xxxxxx are xxxxxxxx from xxxxxxxx into xxxxxxxxx as xxxx are xxxxxx not xxxx any xxxxx capacity xx enter xxxx an xxxxxxxxx Common xxxxxxxx of xxxx class xx people xxx minors xxxxxxx suffering xxxx lunacy xxx persons xxxxxxxxxxxxx by xxx of xxxxxxx or xxxxx Carper xxxxxxxx amp xxx West xxxxxx agreementThe xxxxxxx to xxx contract xxxx come xxxxxx to xxxx the xxxxxxxxx voluntarily xxxxxxx mutual xxxxxxxxxxxxx of xxx subject xxxxxx of xxx agreement xxxx is xxxxxxxx carried xxx when xxx of xxx parties xx the xxxxxxxxx makes xx offer xxx the xxxxx party xxxxxxx the xxxx Thus xxxxxxxxx of xxxxxx agreement xx carried xxx in xxx valid xxxxxxxx Carper xxxxxxxx amp xxx West xxxxxxx assentGenuine xxxxxx states xxxx the xxxxxxxxx to xxxxxxx binding xxxxxx emanate xxxx the xxxx and xxxx will xx the xxxxxxx without xxx form xx duress xxxxx or xxxxxxx In xxx event xxx assent xx the xxxxxxx is xxxxxxxx out xx these xxxxxxxx then xxx assent xx negated xxx does xxx become xxxxxxx binding xx the xxxxxxx However xxx issue xxxxxxx the xxxxxx is xxxx and xxxx is xxxxxxx on xxx basis xx proving xxx influence xx duress xxxxx or xxxxxxx Carper xxxxxxxx amp xxx West xxxxxxxxxx considerationReciprocal xxxxxxxxxxxxx is xx essential xxxxxxx of x valid xxxxxxxx as xxx agreement xxx become xxxxx only xxxxxxx mutual xxx reciprocal xxx of xxxxxxxx and xxxxxxxxxxxxxx from xxxx the xxx of xxxxxxx Absence xx consideration xx any xxxxx might xxxxxx it xxxxxxx In xxxxxxxxx the xxxxxxxx of xxxxxxxxxx considerations xx is xxx material xxx the xxxxxxxxxxxxxx between xxx two xxxxxxx to xx equal xx all xxxxxxxx The xxxxxxx to xxx contract xxx have xxxxxxx consideration xxx have x legal xxxxxxx agreement xx long xx the xxxxxxxx of xxxxxxxxxx consideration xx mentioned xx the xxxxxxxx the xxxxxxxxx shall xx termed xx legally xxxxxxx Carper xxxxxxxx amp xxx West xxxxx in xxxxxxxxxxxx formation xx the xxxxxxxx should xx legal xx its xxxxxxxxx This xxxxx that xxx subject xxxxxx and xxxxxxxxx of xxx contract xxxxxx be xxxxx and xxxxxx the xxxxxxxxxx form xxxxxxxxx and xxxxxxxx through xxxxxxxx statutory xxxxxxxxx Carper xxxxxxxx amp xxx West xxxx of xxxx faith xxx fair xxxxxxx between xxxxxxx and xxxxxxxxxxxxxx and xxxxxxx are xxxxxxxx to xxxxxx utmost xxxx faith xxx fair xxxxxxx while xxxxxxx with xxx another xxxx forms xxx foundation xx which xxx mutual xxxxxx between xxxxxxx and xxxxxxx is xxxxx Bankers xxxx to xxxxxxxx follow xxxxxxxxxxxxxxx and xxxxx agreement xxxxx while xxxxxxxxx on xxxxxx of xxx clients xxxxxxxxx the xxxxxxx are xxxxx to xxxxx and xxxxxxxxx disclose xxx such xxxxxxx that xxx banks xxx seek xx line xxxx existing xxxxxxxxx compliances xxxx is xxxx to xxxxxx that xxxxx and xxxxxxx can xxxxxxxx perform xxxxx work xx the xxxxxxxxx industry xxx bankers xxx clients xxxxx a xxxx important xxx critical xxxxxxxxxxxx which xx based xx trust xxxxx the xxxxxx receives x number xx private xxxxxxxxxxx of xxx client xxxxxxx especially xxxxx its xxxxxxxx and xxx future xxxxxxx plans xx is xxxxxxxx to xxxxxxxx utmost xxxxxxx while xxxxxxx with xxxx Most xx this xxxxxxxxxxx related xx the xxxxxxx is xxxxxxxxxxxx in xxxxxx and xxx bankers xxxx to xx careful xx handling xxxxxxx rsquo xxxxxxxxxxx Clients xxxxx their xxxxxxxxxx plans xxxx the xxxxxxx on xxx basis xx utmost xxxx faith xxxxxx of xxxx faith xxxxx make xxx legal xxxxxxxxxxxx between xxxx parties xxxxxxxxx and xxxxxx for xxxxx against xxx defaulting xxxxxxx Smith xxx amp xxxxxx Intentional xxx negligent xxxx actions x contrastTort xx defined xx legal xxxxxxxx as x private xxxxx which xxxxxxxxx from x wrongdoing xxxxxxx a xxxxxxx individual xx differs xxxx crime xxxxx is xxxxxxxxx as xxxxxx wrong xxxxx damages xx case xx torts xxx normally xxxx in xxxxx of xxxxxxxxxxxx damages xxx criminal xxxxxxxx are xxxxxxxxxxx in xxxxx of xxxxxx terms xxx or xxxxx Among xxx types xx torts xxxxxxxxxxx and xxxxxxxxx torts xxx most xxxxxx Intentional xxxx ldquo xx the xxxx that xxxxxxx when xxxxxxx commit xxxxxxxxxxx acts xxxxx Jennings xxxxxxxxxxx torts xxx committed xxxx the xxxxxxx to xxx act xxx aware xx the xxxxx doing xx such xxxx the xxxxxxx are xxxxx conscious xx their xxxxxxx and xxxx a xxxxxxxx intent xx commit xxx wrong xxxx the xxxxx party xxxxxxxxx torts xxx those xxxxxx which xxxxxxx from xxxxx careless xxxxxxx actions xxxx without xxxxxxxx about xxxxxxxxxxxx rdquo xxxxxxxx The xxxx difference xxxxxxx intentional xxx negligent xxxxx is xxxxx the xxxxx of xxxx rdquo xxxxxxxx The xxxxx of xxxx of xxxxxxx in xxxx of xxxxxxxxxxx tort xxxxxxxx conscious xxxxxxxxxx to xxxxxx the xxx But xx case xx negligent xxxxx the xxxxx of xxxx of xxx parties xxxxxxx an xxx of xxxxxxxxxxxx and xxxxx actions xxxx done xxx with xxx intent xx cause xxxx rdquo xxxxxxxx Interference xxxx Contractual xxxxxxxxx and xxxxxxxxxxxxx in x Breach xx Fiduciary xxxx Tort xxxxxxxxxx tort xxxxxxx that xxx available xx the xxxxx of xxxxxxxxxxxx with xxxxxxxxxxx relations xxx participating xx a xxxxxx of xxxxxxxxx duty xxxxxx on xxx subject xxxxxx of xxx act xx normal xxxxxxxxxxxxx ldquo xxx tort xx interference xxxx contractual xxxxxxxxx protects xxx right xx enjoy xxx benefits xx legally xxxxxxx agreement xxxxx Bagley xxx amp xxxxxx In xxx event xxx defendant xxxxxxxxxxxxx commits xxxxxx of xxxxxxxx the xxxxxxxxx may xxxx recourse xx law xxx claim xxxxxxx The xxxx to xxxxx the xxxxxx of xxxxxxxx and xxxxxxxxx duty xx dependent xx the xxxxxxx of xxx plaintiff xx substantiate xxx presence xx ldquo xxxxxx to xxxxxxxxxxxx rdquo xxxxxx amp xxx Savage xx the xxxx of xxx defendant xxxxxx banking xxxxxxxxxxxx banking xxxxx lot xx promise xx provide xxxxxxx services xx a xxxx mass xx unbanked xxxx population xx combination xxxx technology xxx innovative xxxxxxx delivery xxxxxx mobile xxxxxxx intends xx create x banking xxxxxx which xxxxxxx cost xx operations xxxxxxxxxxxx it xxxx ldquo xxxxxxxxx new xxxxxxxxxx opportunities xxx creates x new xxxxxxxx on xxxxx other xxxxxxxxxx can xxxx rdquo xxxxx Bank xxx banking xxxxxx has xxxxxxxx a xxxxxx of xxxxxxxx protection xxxxxxxxxx to xxxx safer xxxxxx transactions xx the xxxxx of xxxxxx banking xxxxxx banking xxxxxxx run xxx risk xxxx ldquo xxxxx that xxxxx perform xxxxxxxxxxxx payments xx send xxxx information xxxx as xxx codes xxxxxxx close xxxxx communication xxxxxxxxxxxx like xxxxxxxxx Radio xxxxxxxxx Identification xxxx and xxxx Field xxxxxxxxxxxxx NFC xxxxx Zavoral xxxxxx Pichappan xxx amp xxxxxxxx The xxxxxxx system xxx adopted xxxxxx software xx the xxx technology xx ensure xxxxxx of xxxxxxxxxxxx Banks xxx also xxxxxxxxx advanced xxxxxxxxx system xx beef xx security xx mobile xxxxxxx transactions xxxx is xxxx leverage xxxxxxx of xxxxxxxx mobile xxxxxxxxx systems xxxxxx ldquo xxx smart xxxxxx are xxxxxxx being xxxxxxxx to xxxxxxxx this xxxx of xxxxxxxxxx The xxxxxx version xx the xxxxxxx mobile xxxxxxxxx system xxx Cream xxxxxxxx uses xxxxxx recognition xxxxxxxxxx to xxxxxx a xxxx rsquo x phone xxxxx Daffern xxxxxxxxxxxxxxxxxxx issues xx the xxxxxxxxxx market xxx to xx protected xx ever-evolving xxxxx and xxxxxxxxxxx by xxxxxxxx like xxx In xxx field xxxxxxx systems xxxxxxx and xxxxxxx need xx beef xx mutual xxxxx through xxxxxxxxxx of xxxxxxx rsquo xxxxxx and xxxxxxxxxxx of xxxxxxxxx rights xxxxx the xxxxxx banking xxxxxxxx need xx enhance xxx protection xx increase xxxxxxxxxx of xxxxxx while xxxxx mobile xxxxxx for xxxxxxxxxxx online xxx their xxxxxxx needs xxxxxxxxxxxxxxxxxx W xxxxx E xxx amp xxxxx J xxxxxxxxx Accounting xxxxxxx LearningBagley x amp xxx Savage x Managers xxx the xxxxx Environment xxxxxxxxxx for xxx st xxxxxxx Cengage xxxxxxxx Carper x Mckinsey x amp xxx West x Understanding xxx Law xxxxxxx Learning xxxxxxx P xxxxxx Banking xx More xxxxxx Than xxxxxx Banking xxxxxxxxx from xxxx www xxxxxxxxxxxx com xxxxxxxxxx archives xxxxxx banking xx more xxxxxx t xxx online xxxxxxx htmlJennings x Business xxx Legal xxxxxxx and xxxxxx Environment xxxxxxx Learning xxxxxxx R xxxxxxx A xxx amp xxxxxxx F xxx Legal xxxxxxxxxxx of xxxxxxxx Cengage xxxxxxxx Ryan x Essential xxxxxxxxxx of xxxxxxxx and xxxxx Law xx the xxxxxxxx Pacific xxxxxxxxx Publications xxxxx R xxx amp xxxxxx I xxxxxx Smarts xxxxxxx Professional xxxxxxx with xxxxxxxxxxx Value xx the xxxxxxxxxx Industry xxxxxxx Business xxxxx World xxxx Information xxx Communications xxx Development xxxxxxxxxx Mobile xxxxx Bank xxxxxxxxxxxx Zavoral x Yaghob x Pichappan x amp xxx Qawasmeh x Networked xxxxxxx Technologies xxxx I xxxxxxxx PublicationsMore Articles 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