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Describe how the sox act may affect ethical decision
Course:- Business Law and Ethics
Reference No.:- EM13790513




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Grocery, Inc. Uniform Commercial Code (UCC)

Grocery, Inc., is a retail grocery store chain based in Any State, U.S.A. and has stores throughout the United States. Grocery, Inc. has written contracts with many different vendors to purchase the products they sell in their stores. Vendors range from individuals to international corporations. Tom works as the produce manager for the store in My Town, U.S.A. Jeff, 17 years old, is spending his summer vacation working for Tom in the produce department.

Does Article of the Uniform Commercial Code (UCC) apply to the contracts between Grocery, Inc. and its vendors? Do common law contracts apply? Explain your answer in detail. Your answer should compare and contrast common law contracts and UCC Article contracts.

Grocery, Inc. Renovations

Grocery, Inc. contracted with Company A to renovate the store on Main Street in My Town, U.S.A. Company A, unable to complete the renovation within the six-month time limit due to a sudden increase in jobs. Sub contracted the entire Job to Company B, who had a reputation of poor workmanship. Grocery, Inc. was unaware of the sub-contract. When Grocery, Inc. realized-due to the poor quality of work-that Company B, not Company A, was performing the renovation. Grocery, Inc. petitioned the court for an injunction and then sued Company A for breach of contract and specific who wins? Explain your answer.

ARTICLE SYNOPSIS: In your own words, summarize the article.

LEGAL ISSUE: In 1 to 3 sentences, identify the legal business issues raised in the article.

MANAGERIAL PERSPECTIVE: Discuss how the legal issues affect business. For example, could the problems have been avoided? Explain. Discuss realistic solutions supported by sound legal and business principles.

Final review: Write a 350- to 700-word review of the article. Your review should discuss how the SOX Act may affect ethical decision making in today's business environment, and the criminal penalties for which the act provides.




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