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:
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
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.