Recognize the elements of a negotiable instrument, as well as the Essay

Recognize the elements of a negotiable instrument, as well as the elements of rules affecting transferability and liability - Essay Example The other types of instruments are constructed in form of an order. Does the instrument in question meet the requirements of negotiability under the Uniform Commercial Code? This question can best be dealt with by comparing the elements of a negotiable instrument under the Uniform Commercial Code with the instrument in question. These elements are: Writing can be on anything that is permanent and has portability (3-103 UCC). Since the above instrument is written, there appears to be no contention that the instrument in question meets the first requirement. This is intended to authenticate it (3-401 UCC). Bob by handing over a pen to the maker in this question implicates that he wants the maker to put his signature and make him be bound by the document. The maker here will be bound by making any mark on the instrument which purports to be a signature. â€Å"The promise must be an affirmatively written undertaking more than a mere acknowledgement of a debt† (Howard 1964). Apart from acknowledging that he has a debt amounting to $20 000 plus interests the maker further makes an affirmative undertaking to discharge the debt. This can be ascertained by the use of the phrase ‘I promise to pay’. Payment cannot be conditional and the promise or order cannot be subject to rights or obligations stated in another source save for any exception provided by the Uniform Commercial Code. The document in question does not imply any condition. Take for instance if the document was worded in the following manner; â€Å"I promise to pay to the order of Bobs Auto Emporium $20 000 with interest...defaulting by which I shall be liable to pay double the value of interest†, this is a prima facie case of a condition and such an instrument shall be void (Martindale 2011). Any instrument payable in money are negotiable (3-304 UCC).The above instrument is payable at a fixed amount of $20 000 and hence satisfies this test of negotiability. The Uniform

GlOBALIZATION AND INTERNATIONAL MANAGEMENT Research Paper

GlOBALIZATION AND INTERNATIONAL MANAGEMENT - Research Paper Example The warranty policy for products and/or services in China is for two years while the company provides warranty for a period of one year. The warranty policy of the company is criticized by the media, Communist Party, celebrities and consumers in the market of China. This issue is mainly criticized for the violation and the negligence of the company towards the rules as well as the regulations of China in relation to foreign companies operating in the Chinese market segment. The company is also seemed to face challenge in relation to after sales services. The consumers also complained that they are not provided with adequate customer services with issues including technical faults among others. The state media of China is a major challenge for the company i.e. Apple as the Chinese media has undertaken every measure in criticizing the policies of the company and revealing the ill-treatment that Chinese journalists has faced in the offices of Apple in China through news. The state media is determined to adopt aggressive tactic of criticizing the operations of Apple in China with the intention of enhancing the performance of local telecom companies to compete with Apple (Barboza and Wingfield, â€Å"Pressured by China, Apple Apologizes for Warranty Policies†). ... The company is identified to face pressure in the Chinese market due to rivalry issues amid China and the US. China has faced cyber-security issues in relation to hacking of computers of various American companies. Additionally, it has been identified that the Government of the US had proposed to restrict the operations of two Chinese companies in the US. The two Chinese companies which include Huawei and ZTE are the leading producers of telecommunications equipment had been advised to stop their businesses in the US due to engagement in espionage activities (V.V.V., â€Å"Unparalleled Arrogance, Full Apology†). These are the various challenges which are faced by Apple in the market segment of China. Furthermore, these challenges are seemed to act as a trade barrier for the US corporations to operate their business activities in China. 2. RISK MANAGEMENT STRATEGY OF APPLE Apple is identified to possess certain risk management strategies with the objective of mitigating risks w hich arise both in the national as well as international market segments. It can be stated that the company does not possess adequate risk management strategies in order to eliminate those risks at the time of identification. The company is seemed to adopt risk management strategy for interest rate and foreign currency risks but is ineffective in the management of risks arising within challenging marketplaces regarding consumers. It is observed that in the market segment of China, the company has faced various challenges in relation to warranty policy and customer services which are affecting the performance and customer base. The company is a multinational corporation and accordingly it has over the years faced various challenges in relation to rules and