someone is never justified‚ and is referred to as an absolute moral obligation. An absolute moral obligation therefore refers to an obligation which has priority over all other moral obligations. On the other hand‚ to inflict harm which may or may not be justified can be referred to as prima facie moral obligation. A prima facie moral obligation is an obligation which has a strong moral reason supporting it. However such obligation may be overridden under special circumstances‚ like self-defense.
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| | | | | | | • A Numerical Example In this section we consider a basic numerical immunization example. Suppose you are trying to immunize a year-10 obligation whose present value is $1‚000; that is‚ at the current interest rate of 6 percent‚ its future value is: $1‚000[pic][pic]= $1‚790.85 You intend to immunize the obligation by purchasing $1‚000 worth of a bond or a combination of bonds. You consider three bonds: i. Bond 1 has 10 years until maturity‚ a coupon rate of 6.7 percent
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Desperate Air Corporation (DAC) have some serious problems on their hands‚ however if the situation is handled with care and honest communications‚ the transaction can be negotiated as a win/win for both parties. Although the lawyer indicated disclosure is not within the company’s legal requirements‚ my initial gut reaction raised ethical red flags. I examined this dilemma using the Eight Steps to Sound Ethical Decision Making in Business and formulated the ethical decision is to disclose the
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interest rate is 4%‚ so the present value of the obligation is $10‚000. 1) Construct a portfolio of two Bonds (Bond1: Coupon payments 3% paid annually‚ face value $1000 and maturity 5 years‚ Bond2: Coupon payments 5% paid annually‚ face value $1000 and maturity 15 years) that can immunize this obligation. Let’s call this portfolio A. 2) What would be the time to maturity of a zero-coupon bond with face value $1000 that would also immunize your obligation (Bond3)? Let’s call this portfolio B (includes
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selection activity. Terms to be defined “creditworthiness” Definition of terms The Investopedia online (2017) broadly defined creditworthiness as “ a valuation performed by lenders that determines the possibility a borrower may default on his debt obligations. It considers factors‚ such as repayment history and credit score.” The financial dictionary (2017) has this to say‚ “The ability to borrow money. The better one’s creditworthiness‚ the more likely it is that a bank or other financial institution
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choosing use the allowance $2000 for other purpose and intentionally misrepresented his use of that allowance so that he could continue but he still stay in Old Town. According to this action‚ Mutambara was act wrongly because he not following the obligations of company. When Wilson accepts employment‚
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indirectly‚ they form some sort of obligation. The case study presented identified that I am friends of someone within my command who has asked me to withhold information while the relationship with the accused is displeasing. Whether it is a moral obligation or the duties and right to respect the rights of people‚ the obligation in the relationship are affected by our conduct. If I decided to keep the information to myself‚ I may be seen as loyal. However‚ my obligation would be respect the innocent
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signer that the obligations recorded are properly incurred and should be paid. Voucher System of Control A voucher system is a set of procedures and approvals designed to control cash disbursements and the acceptance of obligations. A reliable voucher system follows standard procedures for every transaction. This applies even when multiple purchases are made from the same supplier. A voucher system’s control for cash disbursements begins when a company incurs an obligation that will result
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called agent – relative reason‚ agent-relative obligation and agent -related permission. All these three are connected according to the agent-centered theories. It is said that we have both permission and obligations that give us agent-relative reasons for actions. An agent-relative reason is called such because it is a reason relative to the agent whose reason it is. It need not constitute a reason for anyone else. An agent-relative obligation is an obligation for a particular agent to take or refrain
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but management is nevertheless obliged to take seriously its extra-legal obligations not to injure‚ lie to or 70 BUSINESS ETHICS QUARTERLY As we think through the proper relationship of management to stakeholders‚ fundamental features of business life must undoubtedly be recognized: that corporations have a principally economic mission and competence; that fiduciary obligations to investors and general obligations to comply with the law cannot be set aside; and that abuses of economic
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