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Having studied at Arizona State University and the W.P. Carey School of Business through approximately 7 semesters of undergraduate business coursework, I, along with my classmates, have learned an incredible amount of knowledge critical for success in a career in business administration. We have been provided the resources and tools

Having studied at Arizona State University and the W.P. Carey School of Business through approximately 7 semesters of undergraduate business coursework, I, along with my classmates, have learned an incredible amount of knowledge critical for success in a career in business administration. We have been provided the resources and tools necessary to excel in full time business careers, implement new ideas, and innovate and improve preexisting business networks as driven, motivated business intellectuals. Additionally, having worked in four diverse business internships throughout my undergraduate career, I have come to understand the importance of understanding and studying law and contracts as they relate to business. In all of those internships, I worked extensively with a variety of contracts and agreements, all serving critical purposes within each individual line of business. Within supply chain management studies and jobs, I found contracts to be of utmost importance for students to understand prior to entering a full time job or internship. Students study a wide variety of topics during their education within the Supply Chain Management department at Arizona State University. In procurement and purchasing classes specifically, students cover topics from supplier negotiation strategies to sourcing and sustainability. These topics engage students of all backgrounds and offer exceptional knowledge and insight for those seeking a full time job within supply chain management. What is interestingly so often excluded from such lectures is discussion with regards to the contracts and laws pertinent to purchasing and supply management success. As most procurement and sourcing professionals know, contracts are the basis for all agreements that a company and supplier may engage in. A critical component within the careers of supply managers, contract law provides the foundation for any agreement. Thus, the necessity for a discussion on how to best integrate purchasing and contract law into undergraduate supply chain management education, including depicting the material that should be covered, is permitted. In my Honors Thesis, I have decided to create an informative lecture and outline that can be readily understood by undergraduate students in supply chain management courses, at the benefit of professors and lecturers who wish to utilize and incorporate the material in their classroom. The content consists of information recommended by industry professionals, relevant real-life procurement and contract law examples and scenarios, and universal and common law relevant to contracts and purchasing agreements within the workplace. All of these topics are meant to prepare students for careers and internships within supply chain management, and are topics I have found lack current discussion at the university level. Additionally, as a part of my Honors Thesis, I was given the opportunity to provide a cohesive lecture and present the topics herein in SCM 355 Purchasing classes. This was an opportunity to present to students topics that I feel are currently underrepresented in college courses, and that are beneficial for business students to learn and fully understand. Topics discussed in this interactive lecture and slideshow extracted information from the lecture template.
ContributorsPakula, Jacqueline Rose (Author) / Gilmore, Bruce (Thesis director) / Guy, Shannon (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
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For decades, firms and individuals have utilized written documents to aid in the negotiation of, and completion of, business transactions. One such document is known as a "letter of intent." A letter of intent is often in the form of a letter that serves to evidence preliminary discussions and aid

For decades, firms and individuals have utilized written documents to aid in the negotiation of, and completion of, business transactions. One such document is known as a "letter of intent." A letter of intent is often in the form of a letter that serves to evidence preliminary discussions and aid in negotiations between parties. They are generally intended to be "non-binding," meaning neither party will be bound by terms or conditions set forth in the letter of intent unless formal documents are later prepared and executed by the parties. Letters of intent take myriad forms and names, such as "memorandum of understanding," "proposal letter," and "letter of interest." They have been used in many areas of business, including finance, real estate, and supply chain management. Parties often choose to use a letter of intent for varied benefits it may provide, memorializing preliminary discussions, establishing a timeline for negotiations, seeing whether there are any "deal breakers" among terms being proposed, confirming that a party is serious about a deal, or putting moral pressure on the other party to continue negotiations. However, letters of intent carry with them a significant level of risk, which raises the question of whether or not they should be used at all. Many of the risks associated with the use of a letter of intent stems from the potential for a court to find that a letter of intent constitutes a binding agreement, or creates a duty of the parties to continue negotiations in good faith. Parties to a letter of intent may later disagree as to whether they intended all of the terms, or a particular provision, to be legally binding and enforceable, resulting in legal action. Even if a court finds that a letter of intent does not constitute a binding contract, a party may be able to recover damages under a number of legal theories, such as breach of a duty to negotiate in good faith or promissory estoppel. The use of letters of intent is therefore risky, and ultimately, the risks may outweigh the benefits of utilizing letters of intent. This thesis studies the types, uses, benefits, and risks associated with the use of letters of intent, including an examination of statutes and cases that have been applied by courts in disputes surrounding their use. Ways to mitigate the risks of use are also examined including simple practices such as not signing a letter of intent and using a separate document for any terms which must be binding, such as a "no shop" clause. A proposed legislative solution is also discussed that would prevent letters of intent not explicitly intended to be binding and meeting statutory requirements from being enforced in court, thereby substantially reducing the risks associated with the use of letters of intent.
ContributorsGilman, Alexander James (Author) / Birnbaum, Gary (Thesis director) / Stein, Luke (Committee member) / Claus, Scot (Committee member) / Department of Finance (Contributor) / W. P. Carey School of Business (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description

The PPP Loan Program was created by the CARES Act and carried out by the Small Business Administration (SBA) to provide support to small businesses in maintaining their payroll during the Coronavirus pandemic. This program was approved for $350 billion, but this amount was expanded by an additional $320 billion

The PPP Loan Program was created by the CARES Act and carried out by the Small Business Administration (SBA) to provide support to small businesses in maintaining their payroll during the Coronavirus pandemic. This program was approved for $350 billion, but this amount was expanded by an additional $320 billion to meet the demand by struggling businesses, since initial funding was exhausted under two weeks.<br/><br/>Significant controversy surrounds the program. In December 2020, the Department of Justice reported 90 individuals were charged for fraudulent use of funds, totaling $250 million. The loans, which were intended for small business, were actually approved for 450 public companies. Furthermore, the methods of approval are<br/>shrouded in mystery. In an effort to be transparent, the SBA has released information about loan recipients. Conveniently, the SBA has released information of all recipients. Detailed information was released for 661,218 recipients who have received a PPP loan in excess of $150,000. These recipients are the central point of this research.<br/><br/>This research sought to answer two primary questions: how did the SBA determine which loans, and therefore which industries are approved, and did the industries most affected by the pandemic receive the most in PPP loans, as intended by Congress? It was determined that, generally, PPP Loans were approved on the basis of employment percentages relative to the individual state. Furthermore, in general, the loans approved were approved fairly, with respect to the size of the industry. The loans, when adjusted for GDP and Employment factors, yielded a clear ranking that prioritized vulnerable industries first.<br/><br/>However, significant questions remain. The effectiveness of the PPP has been hindered by unclear incentives and negative outcomes, characterized by a government program that has essentially been rushed into service. Furthermore, limitations of available data to regress and compare the SBA's approved loans are not representative of small business.

ContributorsMaglanoc, Julian (Author) / Kenchington, David (Thesis director) / Cassidy, Nancy (Committee member) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Music streaming services have affected the music industry from both a financial and legal standpoint. Their current business model affects stakeholders such as artists, users, and investors. These services have been scrutinized recently for their imperfect royalty distribution model. Covid-19 has made these discussions even more relevant as touring income

Music streaming services have affected the music industry from both a financial and legal standpoint. Their current business model affects stakeholders such as artists, users, and investors. These services have been scrutinized recently for their imperfect royalty distribution model. Covid-19 has made these discussions even more relevant as touring income has come to a halt for musicians and the live entertainment industry. <br/>Under the current per-stream model, it is becoming exceedingly hard for artists to make a living off of streams. This forces artists to tour heavily as well as cut corners to create what is essentially “disposable art”. Rapidly releasing multiple projects a year has become the norm for many modern artists. This paper will examine the licensing framework, royalty payout issues, and propose a solution.

ContributorsKoudssi, Zakaria Corley (Author) / Sadusky, Brian (Thesis director) / Koretz, Lora (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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In 2001, the Supreme Court of New Jersey decided a dispute between a divorced couple over cryopreserved preembryos created through in vitro fertilization (IVF) during the coupleÕs marriage. The former wife (J.B.) wanted the preembryos destroyed, while her former husband (M.B.) wanted them to be used for future implantation attempts,

In 2001, the Supreme Court of New Jersey decided a dispute between a divorced couple over cryopreserved preembryos created through in vitro fertilization (IVF) during the coupleÕs marriage. The former wife (J.B.) wanted the preembryos destroyed, while her former husband (M.B.) wanted them to be used for future implantation attempts, such as by an infertile couple. In J.B. v. M.B. (2001), the court declined to force J.B. to become a parent against her will, concluding that doing so would violate state public policy. Instead, the Supreme Court of New Jersey decided that agreements directing the allocation of cryopreserved preembryos will be enforced, unless one party changes his or her mind prior to the preembryosÕ use or destruction. Should a party revoke an earlier decision about the preembryos, New Jersey courts should weigh the partiesÕ interests with special weight given to an individualÕs right to not procreate.

Created2013-11-17
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The case of Smith v. Cote (1986) answered two important questions concerning law and childbirth: does the State of New Hampshire recognize a cause of action for what is defined as wrongful birth, and does the State recognize a cause of action for what is classified as wrongful life? In

The case of Smith v. Cote (1986) answered two important questions concerning law and childbirth: does the State of New Hampshire recognize a cause of action for what is defined as wrongful birth, and does the State recognize a cause of action for what is classified as wrongful life? In the case of Smith v. Cote, damages were permitted for wrongful birth, but not for the action of wrongful life.

Created2011-03-24
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This influential opinion by famed jurist Oliver Wendell Holmes, Jr. was copied by courts throughout the United States. For over sixty years, courts refused to recognize a cause of action on behalf of a child who died before or after birth as a result of injuries suffered in the womb

This influential opinion by famed jurist Oliver Wendell Holmes, Jr. was copied by courts throughout the United States. For over sixty years, courts refused to recognize a cause of action on behalf of a child who died before or after birth as a result of injuries suffered in the womb because the fetus was considered legally a part of its mother and thus did not possess personhood. This policy changed after the decision in Bonbrest v. Kotz in 1946.

Created2008-05-09
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The US 2nd Circuit Court of Appeals' 1984 decision United States v. University Hospital, State University Hospital of New York at Stony Brook set a significant precedent for affirming parental privilege to make medical decisions for handicapped newborns, while limiting the ability of the federal government to intervene. The ruling

The US 2nd Circuit Court of Appeals' 1984 decision United States v. University Hospital, State University Hospital of New York at Stony Brook set a significant precedent for affirming parental privilege to make medical decisions for handicapped newborns, while limiting the ability of the federal government to intervene. The ruling stemmed from the 1983 case involving an infant born with severe physical and mental congenital defects; the infant was only identified as Baby Jane Doe. After her parents opted against corrective surgery for some of her deformities, Baby Jane Doe became the epicenter of a national right-to-life debate that had been previously sparked one year prior with the case of Baby Doe, an Indiana infant born with similarly severe handicaps.

Created2011-05-11
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In the 1936 case United States v. One Package of Japanese Pessaries, the US Court of Appeals for the Second Circuit in New York City, New York, confirmed that physicians had the right to distribute contraceptives to patients for medical purposes. In January 1933, US Customs confiscated a package

In the 1936 case United States v. One Package of Japanese Pessaries, the US Court of Appeals for the Second Circuit in New York City, New York, confirmed that physicians had the right to distribute contraceptives to patients for medical purposes. In January 1933, US Customs confiscated a package of contraceptives imported from Japan by US physician Hannah Stone. They claimed that the package violated section 305 of the Tariff Act of 1930, which, like the 1873 anti-obscenity Comstock Act, granted the US government authority to seize contraceptive materials imported into the country or sent through the mail. The court ruled that US Customs was not justified in confiscating the package and ordered its return to Stone. United States v. One Package exempted physicians from the restrictions surrounding the distribution of contraceptives and contributed to the subsequent dismantling of the Comstock Act in later court cases.

Created2017-05-24
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In November 1921, US Congress passed the National Maternity and Infancy Protection Act, also called the Sheppard-Towner Act. The Act provided federal funds to states to establish programs to educate people about prenatal health and infant welfare. Advocates argued that it would curb the high infant mortality rate in the

In November 1921, US Congress passed the National Maternity and Infancy Protection Act, also called the Sheppard-Towner Act. The Act provided federal funds to states to establish programs to educate people about prenatal health and infant welfare. Advocates argued that it would curb the high infant mortality rate in the US. Many states accepted funding through the Sheppard-Towner Act, leading to the establishment of nearly 3,000 prenatal care clinics, 180,000 infant care seminars, over three million home visits by traveling nurses, and a national distribution of educational literature between 1921 and 1928. The Act provided funding for five years, but was repealed in 1929 after Congress did not renew it. Historians note that infant mortality did decrease during the years the Act was in effect. The Act also influenced provisions aimed at infant and maternity welfare in later legislation, such as the Social Security Act of 1935.

Created2017-05-18