1. Your longtime business partner wants to start a Medical Marijuana business. The opportunities to make profits in this business is great with millions to be made on this new business industry. Under Michigan law, Medical Marijuana is a lawful business, provided you can get all the proper licenses and have all needed regulations and controls on the business. You and your longtime business partner can meet all these requirements. One problem: marijuana is an illegal substance under federal law. Question: Is going into the Medical Marijuana business ethical or not? Provide robust rationale for your answer. (Hint: there is no “right” answer). Make your case that your decision is the right one based on business and ethical principles. Use principles and theories you learned from your reading and class to make your case. 2. Your longtime business partner wants to start a Medical Marijuana business. The opportunities to make profits in this business is great with millions to be made on this new business industry. Under Michigan law, Medical Marijuana is a lawful business, provided you can get all the proper licenses and have all needed regulations and controls on the business. You and your longtime business partner can meet all these requirements. One problem: marijuana is an illegal substance under federal law. What actions can you take to get the law changed from each of the following branches of the federal government: 1.) Legislative (Congress); 2.) Executive (President or Federal Agencies); and 3.) Judicial. Explain, in reasonably fine detail, what you can seek to accomplish in each (not just one) respective branch of the federal government to make your proposed Medical Marijuana business legal. 3. Precision Tool Corporation sells a highly profitable product that is capable of seriously injuring consumers who misuse it in a foreseeable way, even though the label warns against the misuse. When used as directed, the product does not harm its users. Does Precision Tool Corporation have an ethical duty to take this product off the market? What ethical conflicts arise when deciding if the firm stops selling this product? Oh, by the way, if the product is taken off the market, you are fired from your well-paying job. How does your decision affect you, stakeholders, profit maximization, and corporate goodwill? Does Precision Tool Corporation have any corporate social responsibility to make sure their customers do not misuse their product? Do you have any corporate social responsibility to make sure their customers do not misuse this product? Explain using principles and concepts we have discussed in class and you read about for your reading. 4. Games Galore Corporation hires Haley, a minor, to create new customized game software for certain clients. Haley signs a contract that requires her to work for Games Galore for eighteen months and not to work for any other company for period of 12 months should she cancel his employment. Just after beginning work, however, Haley tells Games Galore that she will not create new software for Games Galore and that she is going to work for Ideal Worldcraft, Inc., a Games Galore competitor. Is Games Galore’s contract with Haley enforceable? Why or why not? 5. Explain what a third-party beneficiary contract is. Be specific. Give an example from the ‘real’ world. 6. Baby Warbucks, a 12 years child, steps into his father’s shoes and decides to run the family business–making military grade weaponry. Because Baby Warbucks does not understand business, he enters into a contract with the US Government in his own name to sell 15 military tanks. He breached the contract. When the US Government sues, the court refuses to enforce the contract based upon established legal principles. Why does the court refuse to enforce the contract? 7. Candy & Caramel Company wants to sell its products in mini-sized packages labeled “Super Size.” Darn Yarn, Inc., wants to advertise its sweaters as having “That Wool Feel,” but does not want to specify on labels that the sweaters are 100 percent polyester. What, both legally and practically, stops these firms from marketing the products as they would like? Be specific 8. EXTRA CREDIT QUESTION (5pts): In 2014, Lowe’s was ordered to pay a $1.6 million settlement over a lawsuit alleging the inaccurate description of structural dimensional lumber. It was listing lumber boards that were 1.5 inches by 3.5 inches as 2×4 boards. See http://www.hbsdealer.com/article/lowes-ordered-pay-2×4-settlement Yet, Judge Chang (https://ballotpedia.org/Edmond_E._Chang ruled about two weeks ago that longstanding industry convention recognized by the U.S. Department of Commerce distinguishes between the “nominal” designations for pieces of lumber and their actual size, and dismissed a lawsuit seeking the same ruling. See https://www.popularwoodworking.com/woodworking-blogs/2×4-lumber-lawsuit-dismissedWho is right? Take a position and argue your decision. Back it up with principles we’ve learned in class and convince Judge Ellison (sitting on appeal from Judge Chang) that you are right. Millions of dollars hang in the balance. Each question 150 word.
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