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The UETA gives legal recognition to electronic records, electronic signatures, and electronic contracts. The UETA provides that a contract cannot be denied enforceability solely because it is in electronic form, or because an electronic form was used in its formation. If the law requires a written record, an electronic record satisfies the law. Furthermore, an electronic signature satisfies legal requirements for a signature. An electronic record or electronic signature is attributable to a person if it was the act of the person. An act of a person could be shown in any manner, including a demonstration of the efficacy of the security procedures applied to determine to whom the signature or record was attributable. If the law requires that a signature or record be notarized or otherwise verified, that requirement is satisfied if the electronic signature of a person authorized to verify the record or signature is attached to or logically associated with the signature or record.
Under the UETA, if a record has to be retained, that requirement is satisfied by the retention of an electronic record that accurately reflects the information set forth in the record and remains accessible for future reference.
Under the UETA, a record or signature cannot be excluded solely because it is in electronic form. Furthermore, the UETA provides guidelines for a trier of fact to use when determining the weight to be given an electronic signature....
A contract can be formed by the interaction of electronic agents of the parties, even if no actual individual was aware of or reviewed the electronic agents' actions or the resulting terms and agreements. A contract could also be formed by the interaction of an electronic agent and an individual. However, the terms of the contract are not governed by the UETA, but by the substantive law applicable to the contract.
The UETA also governs when electronic records are to be considered sent and received. Under the UETA, an electronic record is sent when it enters an information processing system outside of the control of the sender, after being entered into an information processing system by the sender. It is received when it enters an information processing system designated by the recipient, from whom the recipient is able to retrieve the electronic record, and is in a form capable of being processed by that system.
Works Cited
Cohen, Andrew. "Tyco Mistrial: Blame the Media." CBS News. 2004. CBSNEWS.COM. 19
January 2005
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'Tyco Mistrial." Online Newshour. 2004. PBS. 19 January 2005
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Va. Code § 59.1-508.5 (2000).
Va. Code § 59.1-479 et seq. (2000).
Works Cited
Cohen, Andrew. "Tyco Mistrial: Blame the Media." CBS News. 2004. CBSNEWS.COM. 19
January 2005
'Tyco Mistrial." Online Newshour. 2004. PBS. 19 January 2005
The first trial for the two began on September 29th, 2003. The trial was not concluded as one of the jurors had complained of been pressurized to convict the two former executives. The retrial was conducted, and the jury reached its verdict on June 17th, 2005. They were both acquitted for one count and convicted for 22 criminal counts. They were not found guilty of falsifying business documents. Both of
This was designed to limit the total amounts of insider selling for tax purposes. As time went by, Swartz used this program to give all employees loans for any reason. This helped Kozlowski and other executives to receive large loans from this program (that were forgiven in the future). ("Tyco," n.d., pp. 389 -- 402) (Farrell, 2011, pp. 442 -- 446) The Impact of Auditors Price Waterhouse Coopers was the auditor
Tyco International is a worldwide manufacturing company that is involved in production of various products since its inception in the 1960s. The company is currently divided into five main business segments which are Safety Products, ADT Worldwide, Flow Control, Fire Protection Services as well as Electrical and Metal Products. Furthermore, the company recently split its corporate sections into three independent companies i.e. Tyco Healthcare, Tyco International Ltd. And Tyco Electronics
" (Cummins, 2006). The VP for Corporate Governance, Pillmore announced a series of ethical principles, to prevent such scandals. The first principle "calls for strong leaders who see themselves as stewards of the company and mentors for its future leaders." (Cummins, 2006). The second principle is to establish a "web of accountability," where corporate leaders are constantly questioned about ethics-based decisions. (Cummins, 2006). The third principle is to investigate actual
First of all, they should implement a better control of the executives' actions by limiting their rights and access to corporate funds. No major decision regarding future mergers, acquisitions or investments should be taken by a single executive. All significant activities and fund usage should be approved by the Tyco board during general meetings. The number of these meetings should be of at least one or two per week. The
This is particularly important because it will give the Tyco employees a sense of accomplishment that they might not otherwise feel, and show them that they are in fact on the right track. This conversation also gives management the opportunity to provide feedback about the progress everybody has taken on the change initiative. 4. "After 18 months in this position, it is hard to believe that people still view the