White collar crime: Getting duped
White collar crime can adversely affect business reputations, as well as methods of transactions within the realm of business. In fact, the most common victims turn out to be the stakeholder, and the shareholders and employees follow. In relation, stakeholders tend to hesitate to spend and/or shareholders begin to invest unpredictably as a result of white crime. Additionally, employees are equally—if not more—affected through both the traits internal and external influence.
TRAITS OF INFLUENCE
Negligent hiring, as well as negligent retention, tend to be factors that pertain to internal influence. Ideally, when the wrong people (personas) are hired and retained, the business relations may suffer because of it. In relation, the internal influential acts of passive fraud, concealment, disclosure, and perhaps sales puffery (possibly causes seller’s burden of breach) may result in detrimental circumstances as well.
ARTICLE ASSIGNMENT--SCENARIO: Duped
A famously well-known for high quality stationery—selling for at a low price (the price of standard quality)--has been advertised. An out-of-state consumer has been saving up for this purchase. He orders this product, in bulk, while holding an contract agreement to purchase the high-quality stationery--asking for shipments to be delivered (with Bill of Lading) every 14 days for one complete year.
However, the quality of the stationery changed after 2 months (without notice): Instead of Basis 24, the vendor began shipping BASIS 13. [Unfortunately, for the vendor, a clause that pertains to Section 2-719 was not enforced within their transaction.] This situation became unacceptable [to the consumer] and the consumer then decided to request a refund (hoping for a Section 2-721 resolution). Adversely, the vendor argues that this request is not a fait request. As a result, legal actions had to take place, in order to resolve this particular conflict. Who deserves the payment and is a breach of contract the proper method to resolution?
If You Were the Buyer, What Could You Do?
Now, although the initial contract agreement has taken place, additional detrimental circumstances have shown face (i.e. quality of product has been substantially lowered). However, an immediate breach of contract isn’t mandatory and isn’t the popular business related option to use. The buyer demands (prefers) to return to the vendor, in hopes for a cure (Uniform Commercial Code Article 2: Part 6: Breach, Repudiation and Excuse: Section 2-601): If a cure isn’t allocated by the vendor/consumer, parties may seek out additional legal help--sue for specific performance; thereby, resulting in a feasible legal ‘action’ (arbitration) that may include repudiation. Ultimately, striving for a termination or cancelation--as defined in Article 2: Sales 2-106 —and seeking retribution for damages under Article 2: Section 2-714: Buyer’s Damages for Breach in Regard to Accepted Goods.
What Can Stop a Good Sale?
Unfortunately, no matter how well a product may suit the needs of consumers, there are entities of business that can destroy the joys of allocating those precious goods.
Poor quality should be forbidden. The acts of poor quality entail putting up with a product that is susceptible to malfunction and/or becoming an eyesore in general. Commonly, most consumers tend to fade away from bad products. In relation, if these particular products are sold, this reflects poor business ethics as well.
Assuming the Product is ‘As Is’ After Sale
Most consumers may not have realized that defective products can be returned and/or refused for acceptance. In relation, there are protections that are put in place, in order ti defend consumers from having to tolerate a faulty product, in addition to having to accept a product that is not what was originally ‘bought and paid for’. Ensure to know if you can return a product or adjust the contract.
What the Seller Should Do
Frankly, most contracts are completed by performance—parties do what is agreed upon by both the buyer and the seller. Next, business transactions are executed. Thereafter, their obligations may come to an end. (adjournment) In relation, in order for a good sale to commence, the sale must include: a conscionable contract; the chosen tender(s) of performance; and a tender of delivery. With that said, business parties must develop valid contracts that will cover what will be performed in the future thereof.
Additionally, endure that the money is offered legally, while successfully covering the assigned debt. Utilizing transfer payments or products of trade will assists to mark the value of the transaction.
Delivery of the Goods/Service
Lastly, seller/vendors must assure that adequate delivery has been arranged and accomplished, which includes the proper inspection of the product—by the consumer—upon acceptance. Ultimately, if those standard methods aren’t utilized, the costly ‘breach of contract’ may occur.
In reference to the scenario, the seller should agree to provide the specific type of product that was originally ordered in the first place, and/or make the kind of provisions that may include canceling the contract that requires the delivery of the BASIS 24. And if the consumer desired to arrange for delivery of the BASIS 13 stationery, then another contract should be developed that will state the proper entities of that particular offer, as well (i.e. type of stationery; product quantity; product price; method of payment; and method of delivery).
Business Law and Responsibility
According to this scenario, there were advertised conditions that did cause an upheaval (product change and refusal of acceptance). However, as the definitions of law are understood—in addition to the established regulations are applied—the outcome reflects appropriate negotiations that do entail adjustments in payment and performance. With that said, it is clearly the responsibilities of both parties to communicate properly—effectively and efficiently—in order to remain ethically sound (applying demand, along with the kind of performance that will coincide with establish business laws).
In conclusion, business crime can affect communities on many levels. Fortunately, there are ways to ensure avoidance of certain levels of white crime; both by monitoring and developing standard practices that enhance effective and efficient business transactions will help. Ideally, there are many laws that have been developed by governing parties. However, the keen ingredient—of ethical business transactions—includes proper procedure execution of certain statutes and regulatory properties.
Use for reference: Business Law (Uniform Commercial Code).