Posted by Orintia Daniels.

Bankrupt: “(of a person or organization) declared in law unable to pay outstanding debts.” According to dictionary.com, this adjective simply means that a particular person or organization is in debt and owes money to another organization or person. I have came across an article called “How do I declare Bankruptcy?” which explains the various forms of bankrutpcy as well as how someone can actually declare bankruptcy.

Let’s talk chapters! No, not just any chapters; specifically, let’s review Chapters 7, 11, and 13 of the Bankruptcy Code. Let’s explain, starting with Chapter 7.

Have you ever heard the term “Everything must go?” Well, Chapter 7 of the Bankruptcy Code, states that whoever files under that chapter might lose everything. For example, a person may lose his or her home, due to not being able to pay the bank their debts. Chapter 7 “liquidates your assets to pay off as much of your debt as possible. When it is all done, you are left with the least debt possible, but you usually have to sacrifice a number of possessions along the way to make that happen.” (HG.org).

On the other hand Chapter 11 is mainly for businesses, such as corporations and partnerships, but can be available to individuals. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt. Under Chapter 13, the Code:

allows the filer to reorganize their debt, making it more manageable. Under a Chapter13 bankruptcy, the debtor is able pay off their debts over a period of three to five years. For filers with consistent, predictable incomes, a Chapter 13 bankruptcy may be a great way out of debt by creating a sort of legal grace period. If the debtor makes all payments required under the bankruptcy order, and there are still debts remaining at the end of the grace period, those debts are discharged” (HG.org).

Overall, Chapter 13, is primarily for personal struggles, by anyone who may not be able to pay off their debts.

For one to declare bankruptcy, there are two main methods: as an individual, which is to voluntarily file for bankruptcy, or wait for creditors to ask the court to declare you bankrupt. To further understand the different ways to file for bankruptcy and the different forms of bankruptcy, I personally suggest that you continue your interest on the following website.

Orintia is a marketing major with a minor in economics at Montclair State University, Class of 2017.

Posted by Yuanda Xu.

In 2003, Lucent Technologies decided to fire the CEO, COO, Financial Executive and marketing manager in China. Lucent did this because company in China bribed the Chinese officials to get more benefits. As expected, Lucent fired these four people, and paid $2.5 million to settle charges. The company paid a $1 million fine to the Justice Department and $1.5 million to the Securities and Exchange Commission.

In 1977, America enacted the “Foreign Corrupt Practices Act” to prohibit companies from bribing officials in other countries to get more benefits. What Lucent Technologies did violate the Act, because Lucent Technologies bribed the Chinese officials to get more benefits and reduced business opportunities for other companies. That violates the FCPA.

Yuanda is a business management major at Montclair State University, Class of 2017.

It is now legal for Tesla and other manufacturers of zero-emission cars to sell directly to customers in New Jersey. Tesla’s business model includes selling its battery-driven cars from its boutique stores. One of them is located in Short Hills Mall, Short Hills, NJ.

Customers are free to learn about the vehicles through interactive displays and test drives. Tesla does not want to sell its cars through franchises because they sell mostly gas-powered vehicles. Since most of their revenue comes from gas-powered sales, franchises would not be encouraged to sell zero-emission cars.

Posted by Connie Huang.

According to Merriam Webster dictionary, fraud is “the crime of using dishonest methods to take something valuable from another person; a person who pretends to be what he or she is not in order to trick people; [or] a copy of something that is meant to look like the real thing in order to trick people.” Therefore, a person who pretends to be something they’re not in order to trick people and using dishonest ways to take something valuable from someone is fraud.

A former general counsel of a law firm in South Florida was sentenced to 18 months in federal prison. He was sentenced to federal prison because he helped a managing partner  “swindle investors by selling them ‘income’ from faked settlements.” He will probably be testifying against other defendants.

According to the article, defendant’s attorney argued that his client “had been punished enough by losing his New York law license and his home and declaring bankruptcy.” I agree that defendant has been punished enough, because losing one’s ability to work and make money (a law license) and maintain a house is hard on his life as it is. That is a lot to lose. The defendant apologized in court to his family members, which I believe is a rightful thing to do. He has declared he has been guilty to charges relating to wire fraud.

“Former General Counsel of Notorious Rothstein Law Firm Gets 18 Months for Fraud.” ABA Journal. N.p., n.d. Web. 14 Feb. 2015.

Connie is an international business major at Montclair State University, Class of 2017.

Posted by Yuanda Xu.

On Oct. 30, 2014, Sembcorp Marine’s finance director Wee Sing Guan was sentenced to 39 months in prison for falsifying the accounts of the group’s Jurong Shipyard, Sembcorp’s wholly owned unit. The company lost “hundreds of millions of dollars’ worth of marked-to-market losses that Wee had incurred on foreign exchange and options trades positions he held with a host of banks, including OCBC Bank, DBS Bank, BNP Paribas (BNP), Societe Generale (SocGen) and Standard Chartered Bank.”

According to criminal law, falsifying account records is an unlawful action. Falsifying records can influence the stock market by making investors believe the company’s stock is worth it to buy. But after a company goes bankrupt, people who hold the stock will lose all their money. The offenses “carry a maximum penalty of an unspecified fine and a seven-year jail term, for each charge.”

Yuanda is a business management major at Montclair State University, Class of 2017.

Posted by Mihran Naltchayan.

Watching the news earlier, I heard a report that the juvenile ages among the states in the United States are all different. I always thought that any person eighteen or younger is considered a juvenile. That is a false assumption on my part.

In New York, Connecticut, and North Carolina, a juvenile is considered sixteen years or younger. I found this awkward because I don’t find people mature at age 16; I think after 18 years old juveniles should know between right and wrong and learn from it. In Georgia, Illinois, Louisiana, Massachusetts, Michigan, Missouri, New Hampshire, South Carolina, Texas and Wisconsin, a juvenile is age 17 or less. Wyoming is the only state that has established the age of juveniles to be 19 or younger. (Juvenile Justice 1). Everyone matures at different rates, but the average age people start maturing, I believe, is 18 years old.

“Relying on age as a sole determinant for adulthood has been criticized by many criminologists and policy makers since individuals develop at different rates.” (Juvenile Justice 2). I guess these states come up with these juvenile ages because of the environment/life they live in, but I disagree. It should be after high school, which is usually over 18, that states should be consider a person to be an adult.

Mihran is a marketing major at Montclair State University, Class of 2016.

Posted by Mihran Naltchayan.

On January 16, 2012 around 1:30am, there was a burglary at a jewelry store named “Taline’s Jewelry” in Edgewater, NJ. Burglary is the breaking and entering into a building with the intent to commit a felony therein.

The jewelry store was arranged with a front display space, and the store next door was empty. The empty store is a big building that wrapped around the backend of the jewelry store. The “Ninja Bandit Burglary Crew” cut into a common wall of the empty store and entered the jewelry store from the backend so nobody can see them from the front side. This crew had three people. They didn’t realize that the walls had a vibration sensor that sends a quiet message to the Edgewater police department. So when the police officers arrived, they tried to run away.

“An Edgewater cop fired at least one shot at a thief who used a police cruiser as a getaway car, after a group of officers interrupted an overnight jewelry store break-in involving an alleged member of the infamous ‘Ninja Bandit’ burglary crew.” (Cliffviewpilot.com). The officers arrested 2 of the 3 people. They found the cop car in Teaneck, New Jersey 9:30 am the same day. The third guy wasn’t found.

The two men were brought to a Municipal Court judge in Edgewater and the judge ordered the defendants to be held on $50,000 bail each; they were charged with burglary, resisting arrest, criminal arrest and possession of burglar tools. (Cliffviewpilot.com).

I wrote about this article because this jewelry store is my father’s, and I thought it would be a good article to use for business law, since we cover criminal law in class.

Mihran is a marketing major at Montclair State University, Class of 2016.

Posted by Danielle Lindsay Feoranzo.

In the United States, freedom of speech is protected by the First Amendment. It is a prized right and the courts have protected this right to the fullest extent. As Americans in a democratic country, we have the power to speak our minds to ensure we can voice our political opinions and criticize government actions or policies. Thus, as citizens we hold great authority for which could either positively and or negatively influence our country’s future.

In today’s world, social media has made a strong precedence in our community and the functionality of our world. This includes Twitter, Instagram, Tumbler, and the heavy-weight, Facebook. These outlets of social media can be used by famous celebrities to endorse a product, or politicians to promote themselves and their campaigns. Social media is an outlet that can connect one with the world, therefore in essence is a huge stage to express oneself and one’s opinions.

It was on June 1, 2015, the Supreme Court ruled in favor of a Pennsylvania man who posted many violent messages on Facebook (the Court raising implications of freedom of speech). However, prior to the Supreme Court hearing the case, the man was convicted under a federal threat statue and sentenced to jail time of forty-four months. The man appealed this judgment, stating the government should have been required to prove he actually intended to make a threat. The Pennsylvania man argued he was exercising his freedom of speech protected by the First Amendment. He also mentioned he was inspired by the artist Eminem and his lyrics for which is recited and had no intention to threaten anyone.

The Supreme Court ruled in his favor and stated, “It was not enough to convict the man based solely on the idea that a reasonable person would regard the communications as a threat” (Ariane de Vogue, CNN). What is important to take notice is the “reasonable person” standard was rejected by the Court. This is because the government needed to prove the defendant’s intent.

To conclude, the Pennsylvania man expressed himself on Facebook, whether it was crude to some or not, it did not uphold in court as a threat. This case is another example of how the Court will go out of its way to protect speech under the First Amendment.

Danielle is a business administration major with a concentration in management information and technology at Montclair State University, Class of 2016.

Posted by Arleen Frias-Arias.

After reviewing an article posted December 16, 2014 by Madeline Boardman for Us Magazine, I found interesting the development of this case. A singer named Mitsou is suing singers and celebrities Beyoncé and Jay Z, for mismanagement and stealing. The Hungarian singer has a song called “Bajba, Bajba Pelem,” which allegedly Beyoncé and her team took from her song and sampled Mitsou’s vocals for the single “Drunken in Love.”

The interesting part is that Mitsou has never exactly signed papers that would permit anyone to use her voice for any type of use, including trade purposes. According to New York Post’s Page Six, the voice of Mitsou was manipulated for sexual erotica purposes without her permission. According to Mitsou her voice is featured in the overall song for about 1.5 minutes. This could be a huge problem for Jay-Z’s company and Beyoncé as an artist, because after hearing both sides and songs, there is a huge similarity between songs.

In my opinion, this case will require plenty of experts to prove the guilty actions of singer Beyoncé and Jay-Z. Even though the song only has a couple seconds of the actual voice of Mitsou, there are heavy accusations being made. Beyoncé has not yet commented on the situation but I think in this situation is where we bring in copyrights and hard evidence to prove statements.

In enforcing copyrights against the defendant there needs to be a letter of warning, enlisting the acts of infringements. Now since there were not any responses by the infringing party, legal actions are acceptable at this point. According to John Hornick of Finnegan.com, the business law rules most copyrights depend on is whether or not the copyright was even registered with the United States at the time of the defendants acts.

I believe Mitsou will have to file a copyright infringement lawsuit seeking compensatory harms. This situation is a very sensitive especially if Beyoncé is found liable; there could be over thousands of dollars probably billions returned to Mitsou for her work being unfairly taken without permission.

Arleen is a marketing and communication/TV production major at Montclair State University, Class of 2018.

Posted by Connie Huang.

HSBC is a bank with locations in Europe. Two branches raided on or about February 18, 2015 by Swiss authorities are located in Geneva. They raided the banks, because the banks are accused of money laundering.

Money laundering is “a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money.” The bank’s Swiss arm was aiding their clients in hiding $100 billion in Swiss accounts, as reported by the International Consortium of Investigative Journalists (ICIJ). This allowed let them evade taxes.

According to the article, the bank told their clients that it would not divulge to national authorities details of accounts. HSBC talked about “moves that [would] ‘ultimately allow clients to avoid paying taxes in their home countries.’” As said by the ICIJ, HSBC has served clients like Hosni Mubarak, former Egyptian President, the current ruler of Syria Bashar al-Assad, and Ben Ali, the former Tunisian President.

“HSBC Switzerland Offices Raided over Money Laundering Allegations – Feb. 18, 2015.” CNNMoney. N.p., n.d. Web. 22 Feb. 2015.

Connie is an international business major at Montclair State University, Class of 2017.

Posted by Randy Gomez.

In Business Law class, I learned about business ethics and how an entity should behave as a good citizen. In this article that I found online, it explains how the Federal Communications Commission fined AT&T 100 million dollars for slowing down data speeds to some customers. According to the FCC, AT&T violated a transparency rule by misleading customers saying that their plans were unlimited, when there was a maximum speed that customers would receive. AT&T is accused of not sufficiently informing its subscribers. The FCC chairman Tom Wheeler said “consumers deserve to get what they paid for,” and that, “[b]roadband providers must be upfront and transparent about the services they provide.”

It seems that the corporation was trying to maximize their short-term profits, by not being clear enough about the services provided to the consumer. As it usually happens when a corporation acts unethically to increase their profits, AT&T hurt their profits and now is receiving bad publicity. This is a great example of why companies have to take in consideration moral and ethical principles toward their decisions, instead of just trying to maximize profits.

Randy is a business administration major with a concentration in finance at Montclair State University, Class of 2017.