The Intersection of Law and Ethics – at 600 Grant Street, Pittsburgh, PA: Is it Ethical to Assert a Legal Technicality to Avoid Liability for a Debt Created by Fraud?
A considerable literature exists regard-ing the moral obligation to keep one's promises. Several authors have focused on the exceptional circumstances which may or should excuse this moral duty. Less frequently discussed is the question of how this general moral obligation and its possible exce...
| Published in: | Journal of business ethics |
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| Main Author: | |
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer Science + Business Media B. V
2004
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| In: |
Journal of business ethics
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| Further subjects: | B
Ethical Behavior
B Legal Rule B Moral Obligation B Large Bank B Economic Growth |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Summary: | A considerable literature exists regard-ing the moral obligation to keep one's promises. Several authors have focused on the exceptional circumstances which may or should excuse this moral duty. Less frequently discussed is the question of how this general moral obligation and its possible exceptions play out in the context of negotiable written promises to pay money, i.e., so-called "commercial paper.", This paper focuses on the application of the legal rules governing commercial paper, and on the ethical implications involved in the application of those rules. More specifically, it asks whether the assertion of the technical doctrine known as "holder in due course," and the denial of that status in some cases, promotes ethical behavior in the marketplace. By examining the circumstances of one case, involving a substantial investment and a large bank, I hope to shed some light on how the legal and ethical rules do in fact "intersect." |
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| ISSN: | 1573-0697 |
| Contains: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1023/B:BUSI.0000015847.96783.85 |