Business law essay questions Example | Topics and Well Written Essays - 250 words - 1

Business law questions - Essay Example This instrument is promissory note as Elle unconditionally promise to pay Frank a sum of $ 600 on or before six months from the date of writing the note. Nonetheless, this instrument is not negotiable since for an instrument to be negotiable there must be certain conditions, which should be fulfilled. In this case, the instrument does not have a signature hence it is not negotiable. Drawer of a negotiable instrument other than making unconditional promise to pay should signed in order for the document to be binding. Unfortunately, Elle may later on claim that she never wrote the note since her signature does not appear. It is essential for negotiable instruments to have signature of the drawer. 2. Discount Stores, Inc., borrows $5,000 each from EZ Loan Corporation, First National Bank, and Great Products Corporation. Discount uses its "present inventory and any thereafter acquired" to secure the loans from EZ Loan and First National. EZ Loan perfects its interest on April 1, followed by First National on April 5. Discount buys new inventory on April 10 from Great Products and signs a security agreement, giving Great Products a purchase-money security interest in the new inventory. On the same day, Great Products perfects its interest and notifies EZ Loan and First National. Discount takes possession of the new inventory on April 15. On April 20, Discount defaults on all of the loans. Whose security interest has priority? According to the Personal Property Securities Act 1999, the general rule for priority of financing statement as provided for in Section 66 affirms that any perfected security interest within an agreement has the priority or capability over unperfected security interest of the same collateral that has been used in the agreement. On a different perspective, the same Section 66 provides that the party who was able to perfect it first should determine priority experienced between perfected securities interests within common

Conflict Resolution-Mediation Essay Example | Topics and Well Written Essays - 2500 words

Conflict Resolution-Mediation - Essay Example A working agreement which spells out the rules of engagement and conduct during the negotiations is essential in the process. The mediation process involves acceptable third party intervention and confidential caucuses which enable the disputants become the decision makers in ending the conflict. The caucus stage entails making confidential meetings with each of the disputants whereby each party is allowed to reveal his or her grievances to the dispute. Party-directed mediation process can be summed up in to five stages which include the opening statement, the education phase, and the alternatives generation phase, the actual negotiation phase and the final closing phase. There are two pillars of the party-directed mediation that is the preliminary meetings which comprises of the pre-caucus and pre-mediation. Mediation process saves the parties to the dispute money while managing conflicts. Mediation is applicable in a wide variety of situations thus its effective in resolving disput es. Unlike arbitration where a third party makes a decision for the disputants, mediation is neutral process that accords the disputants the opportunity to solve their dispute with the support of a third party. The objectives of the pre-caucus are to enable the parties to the mediation to reduce the negative emotions to mediation and enable the negotiators to mediate more effectively. The initial aim of the pre-caucus is to facilitate empathic listening and develop an active listening approach as developed by Carl Rogers in the client-centered therapy. The initial joint session enables each party to confront the other through interpersonal negotiation while avoiding all the dysfunctional behaviors. Workplace mediation is always different since the parties address the working relationships which are part of the job and as a legal obligation. Party-directed mediation is useful in particular when mediating ethnic clashes or deep-seated interpersonal disputes between two individuals. Me diation process helps the parties to the dispute to develop tools which are critical in examining their disagreement. I agree with the book that the third party acts as a quasi arbitrator to the dispute. The pre-caucus affords the parties to the dispute an opportunity to vent their emotions, discover the blind spots and increase their commitment to resolving the dispute. The individuals at this stage will learn on how to listen to each other, and understand the issues of confidentiality to the mediation process. I have learned that empathic listening is an essential skill to effective mediation process since it encompasses attentive listening, asking questions about the mediation process as well as suggesting solutions to the dispute. The diagnostic stage of effective listening motivates the parties to speak without feelings of fear of being judged due to self-understanding and confidence. I personally believe that opening statement of the mediation process is aimed at ensuring conf identiality to the negotiations and setting the rules of engagement. The education phase provides an ample opportunity for all the parties to share their perspectives of the dispute and relive any negative emotions. The parties should aim at building cordial and close working relationships at this stage. The options generation phase entails brainstorming on all possible alternatives of resolving the conflict. In