SOLUTION: ITCCI The Documents that Guarantee Payment of Money from A Person Essay

First task:
Your answers should use a 12 point font, be double spaced, and use APA formatting to cite
references on the last page of your assignment (if you use any external sources).
Situational Overview
James Stilton is the chief executive officer (CEO) of RightLiving, Inc., a company that
buys life insurance policies at a discount from terminally ill persons and sells the policies
to investors. RightLiving pays the terminally ill patients a percentage of the future death
benefit (usually 65%) and then sells the policies to investors for 85% of the value of the
future benefit. The patients receive the cash to use for medical and other expenses, and
the investors are “guaranteed” a positive return on their investment. The difference
between the purchase and sale prices is RightLiving’s profit.
Stilton is aware that some sick patients may obtain insurance policies through fraud (by
not revealing their illness on the insurance application). An insurance company that
discovers such fraud will cancel the policy and refuse to pay. Stilton believes that most
of the policies he has purchased are legitimate, but he knows that some are probably
not.
Answer the following questions:





Would a person who adheres to the principle of rights consider it ethical for
Stilton not to disclose the potential risk of cancellation to investors? Why or
why not?
Under the categorical imperative, are the actions of RightLiving ethical? Why
or why not?
Under utilitarianism, are Stilton’s actions ethical? Why or why not? If most of
the policies are legitimate, does this make a difference in your analysis?
Using the IDDR approach, discuss the decision process Stilton should use in
deciding whether to disclose the risk of fraudulent policies to potential
investors.
What are other ethical concerns that Stilton may be facing?
Criteria
1- The response demonstrates that the student fully understands and has applied concepts
learned in the course. Concepts are integrated into the student’s own insights. The
student provides concluding remarks that show analysis and synthesis of ideas while
completing the required answers to the questions.
2- Ties together information from all sources. Response flows from one issue to the next
without the need for headings. The student’s writing demonstrates an understanding of
the relationship among material obtained from all sources.
3- In-depth discussion & elaboration in all sections of the response.
4- The sequence flows well, is easily understood, and answers all portions of the prompt in
the order that the prompt was presented. The structure is presented in an organized
manner.
5- No spelling, grammar, sentence structure, or syntax errors are found within the
document. The readability of the response is not compromised.
6- Cites all data obtained from other sources. APA citation style is used in both text and
bibliography.
Second task:
Instructions ( just make a fake interview)
The purpose of this exercise is to help you understand a bit more about the workforce to set you up for
success when you graduate. The goal when you graduate from Ivy Tech is for you to succeed in a highdemand, high paying job. In order to do that, it is valuable to get hands on knowledge regarding the
business profession that you want to pursue while you are still in the learning environment. This will
provide a foundation of knowledge and insight so that you will be better prepared when you start your
career.
In this exercise, choose a career field in business that is of interest to you. You will be contacting
someone within the field and conducting an interview of them with the questions listed below. You will
need to determine who you want to interview, contact the individual, and setup an appointment with them.
The first set of questions is focused on business law specifically and how it is integrated into different
types of businesses. The second set of questions is more open-ended, and the intent is for you to
generate a dialogue with the person you interview to make it a valuable use of time.
Written Assignment
Using the answers to the questions that you gathered as well as the additional dialogue, create a two
page written document to provide your insight regarding the interview. Please provide the answers to the
questions that you asked on the first page, and utilize the second page to explain what you learned in the
interview, how you will apply it to your future career, and how this will influence what you do to prepare
yourself for the workforce. Be sure to include who you interviewed, why you chose that person, and what
their title/role in business is.
Your answers should use a 12 point font, be double spaced, and use APA formatting to cite references on
the last page of your assignment (if you use any external sources).
Interview Questions
Begin the interview by introducing yourself and ask your interviewee to provide an
overview of themselves. This will start off the interview allowing you to get to know the
person, their educational background, the business they work in, and what their role is.
Once you have opened the conversation up, ask the following questions.
1. What type of business structure (i.e. corporation, sole proprietorship, limited liability
company, franchise, partnership, etc.) does your current company have? Why?
2. What property rights including copyrights, patents, or trademarks does your company have?
How do these create a competitive advantage in your industry?
3. As a business that employs individuals, what provisions does your company follow with
employees to adhere to both state and federal laws?
4. Why did you choose the specific field of business you are in? What other fields have you
worked in?
5. What should I do to help prepare me to succeed in the workforce when I graduate?
6. Who has been the most influential person in your career and why? Would you be open to
being a mentor for me as I continue to progress through my education and transition into the
workforce?
Criteria
1- The response demonstrates that the student fully understands and has applied concepts
learned in the course. Concepts are integrated into the student’s own insights. The
student provides concluding remarks that show analysis and synthesis of ideas while
completing the required answers to the questions.
2- Ties together information from all sources. Response flows from one issue to the next
without the need for headings. The student’s writing demonstrates an understanding of
the relationship among material obtained from all sources.
3- In-depth discussion & elaboration in all sections of the response.
4- The sequence flows well, is easily understood, and answers all portions of the prompt in
the order that the prompt was presented. The structure is presented in an organized
manner.
5- No spelling, grammar, sentence structure, or syntax errors are found within the
document. The readability of the response is not compromised.
6- Cites all data obtained from other sources. APA citation style is used in both text and
bibliography.
Third task:
Instructions
In this exercise, you will get a deeper understanding of negotiable instruments and
apply the learning from reading Chapter 13 in your textbook. Read through the
scenarios below, and answer the following questions. Your answers should use a 12
point font, be double spaced, and use APA formatting to cite references on the last
page of your assignment (if you use any external sources).
Answer the following questions:
1. Define negotiable instruments in your own words. Provide an example of a
negotiable instrument (check, promissory note, dollar bill etc.) and create a drawing
or use an existing photo. On the image, label the parts of the negotiable instrument.
2. Muriel Evans writes the following note on the back of an envelope: “I, Muriel Evans,
promise to pay Karen Marvin or bearer $100 on demand.” Is this a negotiable
instrument? Discuss why or why not.
3. Angela Brock borrowed $544,000 and signed a note payable to Amerifund Mortgage
Services, LLC, to buy a house in Silver Spring, Maryland. The note was endorsed in
blank and transferred several times “without recourse” before Brock fell behind on
the payments. On behalf of Deutsche Bank National Trust Co., BAC Home Loans
Servicing LP initiated foreclosure. Brock filed an action in a Maryland state court to
block it, arguing that BAC could not foreclose because Deutsche Bank, not BAC,
owned the note. Can BAC enforce the note? Explain why or why not.
4. Becky Smith signed a note in the amount of $200,000 in favor of Country Home
Loans, Inc., to obtain a loan to buy a house in Marrero, Louisiana. The note was
endorsed “Pay to the order of ____________ without recourse Country Home
Loans, Inc.” Almost five years later Smith defaulted on the payments. The Federal
National Mortgage Association (Fannie Mae) wanted to foreclose on the house and
sell it to recover the balance due. Smith argued that the words “to the order of
____________” in the endorsement made the note an incomplete order instrument
and that Fannie Mae could not enforce it. What is Fannie Mae’s best response to this
argument?
Criteria
1- The response demonstrates that the student fully understands and has applied concepts
learned in the course. Concepts are integrated into the student’s own insights. The
student provides concluding remarks that show analysis and synthesis of ideas while
completing the required answers to the questions.
2- Ties together information from all sources. Response flows from one issue to the next
without the need for headings. The student’s writing demonstrates an understanding of
the relationship among material obtained from all sources.
3- In-depth discussion & elaboration in all sections of the response.
4- The sequence flows well, is easily understood, and answers all portions of the prompt in
the order that the prompt was presented. The structure is presented in an organized
manner.
5- No spelling, grammar, sentence structure, or syntax errors are found within the
document. The readability of the response is not compromised.
6- Cites all data obtained from other sources. APA citation style is used in both text and
bibliography.

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