Assignment

01/11/13 NAME: PAUL BENI MIYEM ID number: D01454869 COURSE: MGMT 597 (Business Law)

ASSIGNMENT WEEK 1:

9.4 Business Ethics

Dr Vranich hired Dennis Wrinkle as a new employee to help her in assistance. A year later, they entered a verbal agreement to increase Dennis salary and introduce a profit-sharing bonus. This was an oral agreement unlike what they (Dennis and Her) agreed to and signed at the beginning. After a conflict, Dennis sued Dr for the lack of payment on the profit-sharing plan.

An agreement is a sort of arrangement between parties regarding a course of action that means both of them accept mutually to accomplish their respective duties. In this case the agreement were clear and Dennis received his salary increased as concluded, why not the profit-sharing bonus as well? In the end of the video this week lecture, we note that Nancy Kubasek shows that a handshake is no substitute for a written contract. In the middle ages, a man’s word was his guarantee of accomplish his part of the duty in contracts, so members of the privileged did not required consideration. Nowadays things have changed you cannot rely only on a man’s word. However in Montana law a contract can be adopted either in written or by an executed oral agreement. MONT CODE ANN § 28-2-1602 : Montana Code - Section 28-2-1602: HOW WRITTEN CONTRACT MAY BE ALTERED BY PARTIES. Because under Montana law a contract can be adopted either in written or by an executed oral agreement Dennis must receive the profit-sharing bonus because they entered into an oral agreement and executed it and Montana Law protects it. The fact is Dr Vranich executed a part of a contract, he increased his employee salary, if she did not increase it or executed a part of the agreement she would have a much better case. It would have been difficult for Dennis to prove the agreement since nothing was in written. Fortunately Dennis can prove by showing evidence (Pay stubs) that he received the agreed to paid rise....