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International Journal of Economics & Management Sciences

Prudence, Indeterminacy And The Need To Deal: The Conditions Of An Ethic Of Business

Christopher Vasillopulos
Eastern Connecticut State University
Abstract :

Consider the following scenarios. Both are taken from life, the lives of colleagues of mine. Scene One: A lawyer confronts a contractor, a friend and neighbor, regarding the construction of the lawyer's new house. He notes several inadequacies and some omissions. The contractor is unconcerned. The lawyer indicates that a contract binds the undertaking, a contract which includes a $25,000 penalty clause for non-performance. Still unconcerned, the contractor replies that he has no intention of meeting the lawyer's objections. Not only will he not build the house as specified but he plans to omit other features and cut corners throughout. Before the lawyer could object, the contractor blandly says, "I'll be happy to give you your $25,000 and what you paid for the lot and take over the property. And we can remain friends." As those astute in real estate might surmise, property prices in the neighborhood +were skyrocketing. There was no chance the lawyer would invoke the penalty clause. He swallowed his pride, professional and personal, consoled himself with his paper profits and thought of other ways to get even.

Keywords :
The Conditions of an Ethic of Business

Date Deposited : 24 May 2016 22:52

Last Modified : 24 May 2016 22:52

Official URL: http://www.omicsonline.com/

Volume 1, Number 6, June 2012 , ISSN 2162-6359

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