Answer the following statements true (T) or false (F)
1. The Ethics Resource Center helped form the first business ethics office at General Dynamics in 1985.
2. Integrity is derived from the Latin word integri, which means wholeness.
3. The publicity test of integrity is based on the scenario that the individual would be
comfortable in telling his or her best friend or a close family member about his or her actions.
4. The universality test of integrity draws on the belief of whether the individual would consider it acceptable behavior if anyone in the world did the same action.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
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Indicate whether the statement is true or false.
Social market capitalism is associated with which of the following
a. anti-unionism b. state intervention c. deregulation d. neo-liberalism
First Construction Company agrees to build a complete assembly line for Plastic Moulds Inc by April of that year
A term of the contract states: "If First Construction fails to complete the assembly line by April 1, it will pay Plastic Moulds the sum of $5,000 per day until completion. This sum is agreed by First Construction to be liquidated damages and not a penalty." Plastic Moulds knows that its real damage will likely be $500 per day, but it wants to give First Construction a little incentive to make the deadline. However, First Construction is late. Which of the following is true? A) The clause is enforceable because the parties have agreed that it is a liquidated damages clause. B) The clause is enforceable because Plastic Moulds is entitled to use it to provide incentive to First Construction. C) The clause is not enforceable because it is not a genuine pre-estimate of damages. D) The clause is enforceable because it is a genuine pre-estimate of damages. E) Both A and D
Answer the following: a. Does a new partner in a firm have unlimited liability for debts existing when he joined the firm? b. What should a prospective partner do to avoid unreasonable liability? Explain