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 charged xxxx the xxxxxxxxxxxxxx for xxx enforcement xxx administration xx the xxxxxxx securities xxxx Meiners xxxxxxx amp xxxxxxx Through xxx Securities xxxxxxxx Act xxx controls xxx functioning xx the xxxxxxxxxx market xxx all xxxxxxxxxxxx in xxx market xx controls xxxxxxxxx of xxxxxxxxx speculation xxxxxxx mandatory xxxxxxxxxxx and xxxxxxx most xx them xxxx direct xxxxxx on xxxxxxxxx reporting xxxxxxxx Stice xxx Stice xxxxx curbs xxxxxxxxxxx trading xx the xxxxxx Elements xx valid xxxxxxxxxxxxxxxx is xxxxxxx as x legally xxxxxxx agreement xxxx between xxx or xxxx people xxx intend xx to xxxx a xxxxx effect xxx for xxxxx the xxx will xxxxxxx a xxxxxx in xxx event xx breach xxxx Thus xxxxxxxx requires xxxxxxxx a xxxxxxx binding xxxxxxxxxxxx between xxxxxxx to xxx agreement xxx main xxxxxxxx of xxxxx elements xx the xxxxxxxx are xxxxxxxxx parties xxx make x mutual xxxxxxxxx with xxxxxxx assent xxxxxxxxx by xxxxxxxxxx consideration xxx which xx legal xx formation xxx execution xxx in xxx prescribed xxxx of xxx Carper xxxxxxxx amp xxxx Competent xxxxxxxxxx first xxx foremost xxxxxxx of xxx valid xxxxxxxx is xxxx the xxxxxxx to xxx contract xxxx have xxx legal xxxxxxxx and xxxxxxxxxx to xxxxx into xxxxxxx agreements xx general xxxxxxx categories xx people xxx debarred xxxx entering xxxx contracts xx they xxx deemed xxx have xxx legal xxxxxxxx to xxxxx into xx agreement xxxxxx examples xx such xxxxx of xxxxxx are xxxxxx persons xxxxxxxxx from xxxxxx and xxxxxxx incapacitated xx use xx alcohol xx drugs xxxxxx Mckinsey 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 xxxx Genuine xxxxxxxxxxxxx assent xxxxxx that xxx agreement xx legally xxxxxxx should xxxxxxx from xxx free xxx fair xxxx of xxx parties xxxxxxx any xxxx of xxxxxx fraud xx mistake xx the xxxxx the xxxxxx of xxx parties xx obtained xxx of xxxxx elements xxxx the xxxxxx is xxxxxxx and xxxx not xxxxxx legally xxxxxxx on xxx parties xxxxxxx the xxxxx whether xxx assent xx true xxx fair xx decided xx the xxxxx of xxxxxxx the xxxxxxxxx of xxxxxx fraud xx mistake xxxxxx Mckinsey 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 xxxx Legal xx formationThe xxxxxxxxx of xxx contract xxxxxx be xxxxx in xxx character xxxx means xxxx the xxxxxxx matter xxx character xx the xxxxxxxx should xx legal xxx follow xxx prescribed xxxx mentioned xxx declared xxxxxxx existing xxxxxxxxx framework xxxxxx Mckinsey 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 information xxxxxxx share xxxxx investment xxxxx with xxx bankers xx the xxxxx of xxxxxx good xxxxx Breach xx this xxxxx shall xxxx the xxxxx relationship xxxxxxx both xxxxxxx untenable xxx liable xxx suits xxxxxxx the xxxxxxxxxx parties xxxxx 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 is xxx harm xxxx results xxxx parties xxxxxx intentional xxxx 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 xxxxxxxx actions xxxxxxx done xxxxxxx thinking xxxxx consequences xxxxxxxx The xxxx difference xxxxxxx intentional xxx negligent xxxxx is xxx state xx mind 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 xxxxxxx were xxxx not xxxx the xxxxxx to xxxxx harm 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 the xxxx of xxxxxxxxxxxx with xxxxxxxxxxx relations xxxxxxxx the xxxxx to xxxxx the xxxxxxxx of xxxxxxx binding xxxxxxxxx Bagley xxx Savage xx the xxxxx the xxxxxxxxx intentionally xxxxxxx breach xx contract xxx plaintiff xxx take xxxxxxxx to xxx and xxxxx damages xxx test xx prove xxx breach xx contract xxx fiduciary xxxx is xxxxxxxxx on xxx ability xx the xxxxxxxxx to xxxxxxxxxxxx the xxxxxxxx of xxxxxx to xxxxxxxxxxxx Bagley 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 generates xxx employment xxxxxxxxxxxxx and xxxxxxx a xxx platform xx which xxxxx businesses xxx grow 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 virus xxxx could xxxxxxx unauthorized xxxxxxxx or xxxx user xxxxxxxxxxx such xx PIN xxxxx through xxxxx range xxxxxxxxxxxxx technologies xxxx Bluetooth xxxxx Frequency xxxxxxxxxxxxxx RFID xxx Near xxxxx Communication xxx Zavoral xxxxxx Pichappan xxx Qawasmeh xxx banking xxxxxx has xxxxxxx better xxxxxxxx in xxx NFC xxxxxxxxxx to xxxxxx safety xx transactions xxxxx are xxxx employing xxxxxxxx biometric xxxxxx to xxxx up xxxxxxxx of xxxxxx banking xxxxxxxxxxxx This xx done xxxxxxxx systems xx existing xxxxxx operating xxxxxxx Infact 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 s 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 rights xxx maintenance xx fiduciary xxxxxx While xxx mobile xxxxxxx business xxxx to xxxxxxx its xxxxxxxxxx to xxxxxxxx confidence xx public xxxxx using xxxxxx phones xxx transacting xxxxxx for xxxxx banking xxxxx ReferencesAlbrecht x Stice x amp xxxxx J xxxxxxxxx Accounting xxxxxxx LearningBagley x amp xxxxxx D xxxxxxxx and xxx Legal xxxxxxxxxxx Strategies xxx the xx Century xxxxxxx Learning xxxxxx D xxxxxxxx J 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 Edwards x The xxxxx Environment xx Business xxxxxxx Learning xxxx D xxxxxxxxx Principles xx Contract xxx Sales xxx in xxx Northern xxxxxxx iUniverse xxxxxxxxxxxx Smith x 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 xxxxxxxx E xxxxxxxxx Digital xxxxxxxxxxxx Part x Springer xxxxxxxxxxxxMore Articles From Business Management
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