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Essay / Research Paper Abstract
This 4 page paper considers articles supplied by the student to assess the way business law in the US is currently operating, with a critique of the approach that is taken by many in the business world. The bibliography cites 4 sources.
4 pages (~225 words per page)
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have to be faced by any transgressors. However, when looking at the types of legal matters reported over the last few months, it is not business itself that is problematic
but those who want to break the law and undertake actions such as fraud. Susan Carey writes about United Air, currently under chapter 11 bankruptcy, but the delay that
is likely to take place and the need for a further period of protection for a reorganisation plan to be filed without a competing plan being pout forward by creditors.
In US law a company has a separate legal identity, and much of the law appears t be focused at protecting that business and the shareholders rather than the
creditors. In the article by David Banks a financial officer is accused of conspiracy, securities fraud and making false statements. There appears to be an attitude by many of those
perpetrating the crime that they can get away with it, as the motivation appear to be to hold the stock price of the company up, either for personal gain for
the shareholders. Invariably, when the fraud or offence is discovered the stock value will plummet, as seen with MacKesson Corp discovered. The case with Massachusetts Financial Services company is
also one of fraud. This is an interesting case as although there were illegal activities there has been a settlement where directors have agreed to be bared from holding office
for three years there has also be a drop of management charges. However, along with this settlement there is no admission of wrong doing. Again we can see that there
is protection in the law, but we my argue that with no blame taken here and reports such as that of Karps article where Lockheed Martin are purchasing Titan,