In Chapter 11, we learned the essential elements of a contract. In Chapter 12, we learned the various methods through which an offer can be accepted. In Chapter 14, we learned about consideration. This exercise seeks to have you apply your new comprehensive knowledge while strengthening your writing skills. Using clear and unambiguous language, you will draft a contract no less than three pages using Times New Roman font no bigger than 12-pt and margins no wider than 1-inch on all sides, based on the following fact pattern:
Holly Homeowner owns a condominium apartment located at 148-36 89th Avenue, Unit 2A, Jamaica, Queens, NY 11435 which she would like to rent as an Airbnb destination. Unfortunately, she lives and works in Garden City, Long Island and will not be able to handle the day-to- day management of the vacation rental. Furthermore, she has no free time to spend advertising the unit or managing the online presence. The option of contactless check-in is not available, so someone has to meet guests to turn over entry card, however guests can leave cards in the apartment when they leave. The unit will need to be cleaned and restocked between stays and maintained when there is the need for repair. Any guest issues need to be addressed swiftly. The building has its own set of house rules which are updated as needed by the Condo Board and must be adhered to by all residents and visitors.
Hillary Host offers short-term rental stylist and management services for a fee. Hillary lives close by and boasts having the support of a professional team consisting of real estate agents, assistants, photographers, handymen and cleaning services.
You represent Hillary Host, draft a contract for the retention of her short-term rental management and staging services. Anticipate issues that may arise from this relationship in the future and address them in the contract. A few things you should consider along with other thoughts:
How long will this relationship last and how will it end?
How will parties communicate?
Who will assist when Holly is not available (i.e., sick or on vacation)?
Should some issues which can change over time be addressed by attaching a Rider or Schedule?
What legal or insurance issues should be addressed? (HINT: NY is looking to pass new laws related
to short-term rentals.)
How will Hillary Host be compensated?—flat fee? Commission? how often? by check/cash/Zelle?
Will Hillary seek blanket authority to retain the services of other professionals as needed? Or in emergency situations only? Will she need to seek approval before incurring each expense? How
will third-party/subcontractors be compensated?
Category: Business law and ethics
I attached an image with the following instructions to complete the assignment. please make sure to talk about the unethical side of the company of choice not ethical.
Grading Rubric for the Ethics Project 150 Points:
Obtain a copy of the code of professional ethics or professional conduct for this organization and address the following:
1. Indicate why did you choose the organization you chose? How does it relate to your field of study? 15 Points
2. Summarize IN YOUR OWN WORDS the code of ethics and/or conduct. Do not rewrite the code and do not simply list the code. Be complete and thorough in your summary, including as much of the code in your discussion as possible. Include reasons why these points are important to a company and meaningful to your profession. This is the bulk of the points of your report, so you should be writing at least ½ of your report in this section. Attach documentation of the Code of Ethics to your report. 70 Points.
3. After analyzing the code and points within that code, please discuss which point or points within the code are the most important in your opinion and why you feel those are the most important. This should be a separate paragraph summarizing the analysis of the code. 15 Points
4. Research and discuss two examples of how the standards within the code were violated recently. Find these violations of specific points of your code of ethics in professional publications or in newspapers by searching the internet for general violations (ie accounting fraud, marketing schemes, breach of confidentiality, etc.). Explain the violation, the results and effects, and the punishment given. To get your full points on this section, you must show specifically which points of your code were violated by the offender. Attach documentation of your violation to your report. 30 Points
5. Appendix – Copy of the Code & Violation Documentation or functioning link. In text citations are not necessary
*I ONLY NEED HELP WITH NUMBER 4 AND 5
*HERE IS WHAT IVE WRITTEN SO FAR
-As an aspiring business manager, I am guided by the principles and standards set forth by the American Management Association (AMA). The AMA Code of Ethics serves as a compass, providing direction and guidance in navigating the complex and dynamic world of business management. In this essay, I will explore the fundamental principles of the AMA Code and discuss their significance in shaping ethical behavior and decision-making in the field of business management.
At the core of the AMA Code of Ethics lies a commitment to integrity. Integrity serves as the foundation of ethical behavior in business management. As business managers, we are entrusted with significant responsibilities, including making decisions that impact the well-being of our employees, stakeholders, and the broader community. Upholding integrity means acting honestly, transparently, and ethically in all our interactions and decisions. It requires us to adhere to high moral and ethical standards, even in the face of adversity or temptation. By embodying integrity in our actions and behaviors, we earn the trust and respect of our colleagues, stakeholders, and the public, thereby fostering a culture of trust and accountability within our organizations.
Another key principle outlined in the AMA Code is respect. Respect is the recognition of the inherent worth and dignity of all individuals. As business managers, we must treat everyone with respect and dignity, regardless of their position, background, or beliefs. This includes our employees, colleagues, customers, suppliers, and competitors. By fostering an environment of respect and inclusivity, we create a culture where diversity is valued, and everyone feels empowered to contribute their unique perspectives and talents to the organization.
Transparency is also essential in business management. Transparency entails openness, honesty, and accountability in our communications and actions. It requires us to provide accurate and timely information to our stakeholders, including employees, shareholders, customers, and the public. By being transparent in our decision-making processes and operations, we build trust and credibility with our stakeholders, which is essential for long-term success and sustainability.
In addition to integrity, respect, and transparency, the AMA Code emphasizes the importance of fairness and justice in business management. Fairness means treating all individuals fairly and impartially, without favoritism or discrimination. It requires us to make decisions based on merit, equity, and the principles of justice. By ensuring fairness in our policies, practices, and procedures, we promote a culture of equality and opportunity within our organizations, where everyone has a chance to succeed based on their skills, abilities, and contributions.
Finally, the AMA Code underscores the importance of corporate social responsibility (CSR) in business management. CSR is the ethical obligation of businesses to contribute to the well-being of society and the environment. As business managers, we must consider the social, environmental, and ethical impacts of our decisions and actions. This includes promoting sustainability, diversity and inclusion, ethical sourcing, and community engagement. By integrating CSR into our business practices, we not only fulfill our moral and ethical responsibilities but also create value for our stakeholders and contribute to the long-term success and sustainability of our organizations.
In conclusion, the AMA Code of Ethics provides a framework for ethical behavior and decision-making in business management. By upholding the principles of integrity, respect, transparency, fairness, and corporate social responsibility, we can create ethical and sustainable organizations that contribute positively to society and the world. As aspiring business managers, it is our responsibility to embody these principles in our actions and behaviors, and to inspire others to do the same. Through our commitment to ethical leadership and management, we can build a brighter future for ourselves, our organizations, and the world.
After delving into the American Management Association (AMA) Code of Ethics, I find the principles of integrity and transparency to be paramount. Integrity forms the bedrock of ethical conduct, guiding business managers to uphold honesty, fairness, and ethical behavior in all endeavors. It ensures that decisions and actions are rooted in moral principles, fostering trust and credibility within organizations. When managers embody integrity, they set a standard for ethical behavior that permeates throughout the organization, promoting a culture of accountability and responsibility.
Similarly, transparency plays a crucial role in ethical leadership. By maintaining openness and honesty in communication and decision-making processes, managers build trust and confidence among stakeholders. Transparent organizations are perceived as trustworthy and reliable, which enhances collaboration, fosters innovation, and drives long-term success. When managers are transparent about their intentions, goals, and actions, they demonstrate a commitment to ethical conduct and accountability, fostering a culture of trust and respect within the organization.
Overall, integrity and transparency are essential principles that underpin ethical leadership and management. By prioritizing these principles, business managers can establish ethical cultures, cultivate trust among stakeholders, and lead their organizations with integrity and accountability. In doing so, they not only uphold the values of the AMA Code of Ethics but also contribute to the ethical and sustainable success of their organizations.