Business law class, please help

timer Asked: Oct 12th, 2015

Question description

1. A. Is it ethical for the law to impose liability retroactively?

B. Should government force a person to pay for doing something that was legal and carried no penalty at the time it was done?

2. You have learned what a contract is and the consequences for failing to live up to the provisions of a contract. The usual remedy for a breach of contract is money damages. a. But can money truly compensate the non-breaching party for all the losses suffered?

b. How accurately can loss of potential profit be estimated?

c. What about the stress and inconvenience caused the non-breaching party by the breach?

d. Would this be difficult to measure in monetary terms?

e. What about the example failing to live up to a promise sets?

f. If an employee finds out that the company is manufacturing appliances with substandard parts so that the appliance will fail much sooner, does the employee have an ethical obligation to do anything?

3. Consider the ethical implications of a seller who decides to make his way. The less expensive way will shorten the life of the product. So, instead of giving a two-year written warranty that the seller has been giving, the seller no longer provides a warranty on the product. The seller custs costs, reduces the likelihood of returns and lawsuits because of breached warranty and is much happier. What about the customer.

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