LS235 Lecture Notes - Lecture 11: Pietas, Parricide, Commercium

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scarletcicada885

3 Nov 2016

School

University of Waterloo

Department

Legal Studies

Course

LS235

Professor

Daniel Hutter

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Document Summary

The family (familia) is the most important social uni. The individual had few rights and all rights which the laws recognized concerned only the family. These rights could only be exercised by the head of the family. The male head of the family was known as the. The agnatic patriarchal family included all descendents, in a direct male line, from a living paterfamilias. Potestas, over all of the legitimate descendants in his familia. These descendants were known as filiifamiliae and included extended family and dependent children and slaves. Many children lost at least one parent by the age of 15. Individual male members of the filiifamiliae were known as filiusfamilia and had no rights of any description. Any property acquired by him was passed on to the. His liberty and life was in the hands of the paterfamilias and he was often told what his career path, bride, path were to take.

Related Questions

Read thefollowing accounting case and then answer the questions thoroughly.Questions are listed below the case.

Taylor and Ryan co-ownand operate Hatfield Office Equipment (HOE) for 30 years. A localbank has continually financed HOE, which has an inventory worthmillions of dollars. The siblings share ownership of the business.They hired James, Taylorâs son, to handle the companyâs bookkeepingresponsibilities.

James, 30, had beenworking in various jobs at the business since high school. Heeventually was entrusted with all aspects of bookkeeping for thebusiness: accounts payable, accounts receivable, payroll, and allaccount and bank reconciliations. Taylor and Ryan gave himcheck-signing ability and a business credit card.

After becoming thebookkeeper, James married and began a family. As his personalmonthly expenses increased, he found it difficult to maintain thelifestyle he had known when he was single and living with hisparents.

The fraud scheme begansimply. At first, James began illegally using his business p-card(or purchasing card) for small personal expenses, such as gas forhis personal vehicle and fast food meals. After several months, hischarges for personal expenses increased in number and dollaramount, including charges for taking out his wife and children tofine restaurants, clothing for himself and his family, and evenhigh-end electronic products. No one at HOE noticed the continualincrease in charges for personal items because James controlled allpayment checks to the credit card company.

Jamesâ fraudulentactivities expanded. He began embezzling from the payroll system.Because he was a manager, he didnât have to use the time clock andbegan to pay himself for excessive overtime pay. He would givehimself paychecks in lieu of not taking vacation time, even thoughhe took all his vacation days. HOE management, Ryan and Taylor wereoblivious to what was happening.

James then beganwriting checks payable to himself, but he would write a regularrecurring vendorâs name on each check stub and hand-key it into thecomputer system. When the bank statements came each month, Jameswould alter the images of the checks on the statements to match thevendors on the check stubs and in the system. Then he would hideevidence of the fraudulent checks he had cashed by photocopying thealtered pages of the bank statements and shredding the originalstatements.

Crafty James wasnâtdone yet. He opened a new personal credit card at the businessâbank. Now it was easy for him to electronically make bank draftsfor paying the businessâ monthly credit card statements and thenwrite company checks to pay his personal card. If anyone reviewedthe check stubs, it would only appear that one credit card invoicehad been paid each month. James could charge the companyâs creditcard for his personal expenses and charge additionalpurchases to this new credit card. He used company funds to pay offboth cards. Sweet deal.

Some fraudstersrationalize their thefts as âtemporaryâ loans they will repaylater. James executed his frauds without any intention of returningthe money. His thefts from the company for 2Â½ years were eventuallylarge enough to create company cash flow problems.

Taylor accidentlydiscovered the crimes when she was searching the businessâ onlinebanking system for a canceled check and discovered that severalchecks in one month had been payable to and signed by James.

Ryan and Taylor didnâtcontact law enforcement nor engage an outside accountant. Duringits internal investigation, the family determined that it had lostat least $90,000 (though it was probably quite a bit more thanthat).

When confronted, Jamesconfessed and explained how he had stolen the money. The businessfired him after he signed an agreement for restitution, whichstipulated that the business wouldnât prosecute.

Before they discoveredJamesâ crimes, Ryan and Taylor had attributed cash-flow problems toa downturn in the economy. And James, of course, concurred. HOE hadto lay off employees and cut or reduce employee benefits. Thecompany still hasnât recovered from Jamesâ fraud schemes.

Discussion Questions:Detailed Explination is Requried

Was the theftpreventable? Defend your position by addressing the following:

What internal control weaknesses facilitated the thefts?

What internal controls policies should be implemented to preventfuture theft?

QUESTION 8

Which of these powers are exclusive to the national government?

	A.	Regulate commerce between states.
	B.	Establish an Army and a Navy.
	C.	Issue driver's licenses.
	D.	Only states can issue driver's licenses! But the other two are federal powers.

5 points

QUESTION 9

Which statement is NOT a function of political parties?

	A.	Recruits candidates for public office
	B.	Support a single cause
	C.	Select candidates to run in elections
	D.	Educate voters

5 points

QUESTION 10

According to John Locke, there exists _____ between the governed and the governing.

	A.	an understanding
	B.	a contract
	C.	a moral obligation
	D.	a grudge match

5 points

QUESTION 11

The British increased taxes on the colonists to help pay for _____.

	A.	wars against Napolean.
	B.	the French and Indian War.
	C.	maintenance of trade routes the West Indies.
	D.	those red uniforms.

5 points

QUESTION 12

The Constitution may not be amended.

True

False

5 points

QUESTION 13

The Anti-Federalists feared that the new government was being given too much power.

True

False

5 points

QUESTION 14

American citizens do not vote directly for the president. Citizens vote for electors who cast their ballots in the Electoral College. There are 538 electors which is the sum of ______________.

	A.	100 Representatives, 435 Senators and 3 electors for the District of Columbia.
	B.	100 Senators and 438 Representatives.
	C.	100 Senators, 435 Representatives and 3 electors for the District of Columbia.
	D.	100 Representatives, 435 Senators and 3 at large votes.

5 points

QUESTION 15

Which of these is true about the first American militias?

	A.	Soldiers were expected to bring their own rifles.
	B.	Enlistments were generally for less than a year.
	C.	Soldiers were not from lower classes. They were primariy artisans, workers or sons of landowning families.
	D.	All of the above are true about the first American militias.

5 points

QUESTION 16

Soldiers from low income homes were motivated by the financial prospects of military service. These enlistees saw the militia as a way of earning income to buy land and subsequently gain independence from their family. Many of them sent money home while they were serving their enlistment.

True

False

5 points

QUESTION 17

The power of the judicial branch to determine if laws are constitutional or not was first defined in Marbury v. Madison.

True

False

5 points

QUESTION 18

In 1870, the 15th Amendment gave the right to vote to all men, including former male slaves.

True

False

5 points

QUESTION 19

Match the President with his famous decision:

- A. B. C.	Emancipation Proclamation
- A. B. C.	Louisiana Purchase
- A. B. C.	Step down after two terms

A.	Washington
B.	Jefferson
C.	Lincoln

5 points

QUESTION 20

Match the special interest group with its special interest

- A. B. C. D. E.	campaign finance and election reform
- A. B. C. D. E.	individual rights and liberties
- A. B. C. D. E.	gun ownership
- A. B. C. D. E.	the environment
- A. B. C. D. E.	business

A.	ACLU
B.	Chamber of Commerce
C.	Sierra Club
D.	NRA
E.	Common Cause

raspberryplatypus303

Roger McDaniels sat in front of his computer pondering hisimmediate future. He had just finished an impromptu meeting withBeth Sullivan from the internal audit department and his confidencewas shaken. Both Roger and Beth left the meeting wondering if theirrecent decisions were for the best.
Roger's accounting career began approximately ten years ago when hebecame a CPA. Over the last decade, Roger had been successfullyemployed in a variety of accounting positions. It therefore came asno surprise to Roger when three months ago, he was contacted by anexecutive recruiter and offered the CFO position at SolodorPharmaceuticals (SP). SP's mission was to conduct tests on Celenza,a new drug that had been developed to fight acute lymphoblasticleukemia. If successful, Celenza had the potential to increase theaverage life expectancy of affected patients by up to six years.Celenza offered terminal patients the most hope of any drug in overa decade. Although not stated publically, it was known in theindustry that other pharmaceutical companies did not want to incurthe significant costs associated with developing a similar drugbecause sales of a new drug would merely cannibalize sales fromtheir current, but less effective medications.
Upon accepting the employment offer from SP, Roger felt veryexhilarated. If SP's mission was successful, not only would Rogerbe handsomely rewarded (as his compensation package provided himwith numerous stock options, which in themselves would likely makeRoger a millionaire), but Roger would also play a part in extendingthe lives of numerous terminally ill patients. Given the history ofdeath in his family from various forms of cancer, more specificallythe death of his father from leukemia when he was only a child,Roger was all too aware of the pain and mental anguish associatedwith terminal illnesses.
Upon starting his new position, Roger was not surprised to learnthat, similar to other new pharmaceutical companies, SP wascurrently experiencing severe cash flow problems. Thus, theimmediate priority for Roger was to procure a round of additionalequity financing. If Celenza was shown to be successful, it had thepotential to be a cash cow. However, in its current state, SP hadno expectations of any Celenza sales occurring for at least twomore years because extensive testing was needed before the FDA'sCenter for Drug Evaluation and Research would even considerapproving the drug. Without obtaining a minimum of $5,500,000, SPwould run out of money and be forced to liquidate within the nextfour months. This would not only leave Roger unemployed but wouldmake his stock options worthless. It would also put Celenza'sfuture in jeopardy.
Roger recently held meetings with three different financiers andpessimistically awaited their responses. Due to the weak economy,raising significant equity financing was an extremely difficulttask. Therefore, when Steve Butler called to arrange a breakfastmeeting, Roger was anxious.
ï¿¼1
Steve Butler was a senior vice-president of Cambridge, a venturecapital firm with access to over a billion dollars. If SP'smanagement team impressed Steve, Roger knew the firm's currentfinancial woes would be solved. However, if SP's management teamfailed to impress...well, Roger chose not to concentrate on thatoption.
The breakfast meeting between Roger and Steve came and went withSteve appearing to be extremely intrigued with the market potentialof Celenza. At the end of breakfast, Steve suggested that Cambridgewould potentially be willing to invest up to $5,500,000 but onlyafter conducting a thorough analysis of Celenza's researchprogress.
Accordingly, two weeks after the breakfast meeting, scientists fromCambridge spent ten days examining the research that SP hadconducted to date on Celenza. Roger was feeling cautiouslyoptimistic because Steve's team seemed to be impressed. However, asweeks went by Roger's pessimism began to return. It had been threeweeks since the team had visited SP and Roger had yet to hear fromSteve.
Two days later the phone rang in Roger's office. After realizing itwas Steve calling, Roger attempted not to act apprehensive. Duringthe call, Steve explained that his firm was in the process ofpreparing a share purchase agreement in which Cambridge wouldpurchase up to 55 percent of SP. Cambridge was willing to pay$100,000 for each 1 percent of SP ownership, conditional onobtaining a controlling interest in SP. After hanging up, Rogerexhaled deeply and exhaustively leaned back in his chair as heconsidered Cambridge's proposal. On the positive side, the news ofan equity purchase could not have come at a better time since SP'screditors were phoning daily requesting payment. On the negativeside, obtaining the required $5,500,000 meant Cambridge wouldeffectively control SP. Cambridge had a reputation for replacingthe management teams in firms that it acquired and for pursuing ahigh-price/low-volume marketing strategy. The possibility of beingfired would be catastrophic for Roger since he had to be employedby SP for at least one year before his stock options would fullyvest. Cambridge's marketing strategy would also be in contrast tothe desires of SP's current management team who wanted to maximizeprofitsâbut also planned on being socially responsible byimplementing a low price/high volume marketing strategy. Rogerclenched his jaw in agony because he knew that ahigh-price/low-volume strategy meant that Celenza would only beavailable to the wealthy and not available to those who werecovered by traditional health insurance policies.
After waiting a sleepless week during which no draft agreementappeared, Roger became increasingly agitated. Roger did not want toact hastily but after he could wait no longer he phoned Steve'soffice. Although Steve was out of the office, Roger reached Steve'sassistant and asked to see a draft of the purchase agreement. Theassistant agreed to overnight a hard copy of the deal.
Upon returning from lunch the next day, Roger noticed a UPS packageresting on the corner of his desk. As he tore open the documentRoger's heart palpitated with nervous excitement. As he glancedover the first sheets he immediately noticed that this wasnot
2
a draft of the agreement between Cambridge and SP but a final copyof a deal between Cambridge and Dugas Incorporated that was to beannounced the next day.
Roger's first instinct was to throw away the draft without readingit because it was obvious to Roger that Steve's assistant had madea mistake and sent him a copy of the wrong deal. However, curiositygot the best of Roger so he decided to read over the entiredocument. Afterward, Roger checked the Internet for details ofDugas Incorporated. There did not seem to be any public informationavailable about a deal between Cambridge and Dugas Incorporated.Now consumed with interest, Roger noticed that Dugas Incorporatedwas currently trading on the New York Stock Exchange at $3.14 pershare, down from a yearly high of $28.45. He next reviewed a fewfinancial news articles that expressed concern regarding DugasIncorporated's cash flow. The articles also expressed doubt thatDugas Incorporated would be able to obtain the additional financingit needed to stay afloat.
Roger reclined in his chair realizing that he was privy to a verysignificant piece of information. In less than 24 hours DugasIncorporated would announce Cambridge's investment. This news wassure to have a significant impact on the price of DugasIncorporated's stock. Roger contemplated just how high their stockprice would go, maybe $10, maybe $15, maybe even past its yearlyhigh.
Roger could not believe his good fortune. A grin slowly creptacross Roger's mouth as he accessed SP's operating account and usedevery last dollar to purchase 470,000 shares in Dugas Incorporated.Roger was actually giddy with excitement and found that he couldbarely contain himself. With the profits that SP would make oncethe news regarding Dugas Incorporated went public, he had singlehandedly prevented SP from surrendering control to Cambridge. Hehad never felt better about himself. Roger was now fully confidentthat he would remain at SP long enough for his options to vest. AsRoger left his office that day he realized that his actions wouldstop Cambridge from imposing a high-price/low-volume marketingstrategy on SP such that only the very wealthy could affordCelenza. Roger found it satisfying to help people who sodesperately needed it.
A month later, Roger's actions were discovered by Beth Sullivan, aninternal auditor at SP, while performing a routine test on astratified sample of cash transactions. Beth discovered that Rogerused SP's operating funds to purchase shares in Dugas Incorporatedjust one day before the stock price skyrocketed. This discovery ledBeth, who was unsure if she should further investigate thetransaction, to request an impromptu meeting with Roger. Beth choseto discuss the situation with Roger rather than her immediatesuperior because SP's corporate structure was such that the head ofthe internal audit department ultimately reported to Roger, theCFO.
The meeting had only begun when Roger somewhat aggressivelyinstructed her to simply drop the transaction from her sample. Tounderscore his point he made sure to mention that he was her boss'sboss, and ultimately the person in charge of the internal auditdepartment. Sensing that Beth was uncomfortable with hisinstructions, Roger
3
slumped forward exhaustively and elaborated on his heartfeltreasons for having used corporate funds to purchase the shares inDugas Incorporated. After her meeting with Roger, Beth experiencedan uneasy feeling in the pit of her stomach.
It was now two months since Beth's meeting with Roger but Bethstill felt queasy when she contemplated Roger's actions. She hadlain in bed the previous night tossing and turning unable to sleep.As she showered that morning she considered that it was importantto ensure that she acted legally in spite of ethicality. Peoplewere thrown in jail for violating the law not for violating ethics.She resolved that in spite of thinking that perhaps Roger hadbehaved ethically, she had to behave rationally. If she reportedRoger's actions, there was no way by which she could be heldlegally responsible for any of Roger's actions. There was also nomeans by which Roger or SP could fire her, for the Sarbanes-OxleyAct of 2002 (SOX, U.S. House of Representatives 2002) provided herwith protection from their retribution. She never realized thatreading the Occupational Safety and Health Administration (OSHA)fact sheet in SP's lunchroom would help her resolve such asignificant dilemma. After many bored lunch breaks she could nowrecall the fact sheet verbatim:
An employer covered under SOX may not discharge or in any mannerretaliate against an employee because he or she: providedinformation, caused information to be provided, or assisted in aninvestigation by a federal regulatory or law enforcement agency, amember or committee of Congress, or an internal investigation bythe company relating to alleged mail fraud, wire fraud, bank fraud,securities fraud, violation(s) of SEC rules and regulations, orviolation(s) of federal law relating to fraud against shareholders.(OSHA 2011)
As Beth arrived at work that morning, after a brief stop at thelocal coffee shop, she confidently wrote a letter to SP's Board ofDirectors informing them of Roger's actions.
ï¿¼Answer the following Questions:

1. Identify and briefly discuss the key issue(s) in the case.
2. What was the ethical dilemma faced by Beth Sullivan?
3. Do you think Beth acted ethically? Why or why not?
4. Are there any other alternative courses of action possible forBeth?

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LS235 Lecture Notes - Lecture 11: Pietas, Parricide, Commercium

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