The Gambles Of Security In The Banking Industry

1152 words - 5 pages

Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy.
JPMorgan Chase is one of the oldest industries financial firms in the United States. It is the head in financial business with an asset of $2.3 trillion, and the largest market capitalization and deposit base of any U.S. banking institution. Since 2000 when the Corporation acquired J.P. Morgan the firms helps a lots of consumers in the United States and some country around the world most famous corporate, institutional and government workers. The JPMorgan product has being worn by the share partners as well as the asset management, secret banking, private resources management, and capital service industries. Risks are very common not just for the organizations but to the individuals as well, there is lot of risks that encounters in our daily lives. Moreover, proper management can eventually be effective in preventing from the risk and gambling issues. It is important in any organization to have a tool that guarantees the correct evaluation of risks, which are subjected to the processes and activities involved in the area information, and through procedures of control is to evaluate the performance of the computing environment Cash (McKenney, 2010). Information security is one of the most essential aspects of successful operation of every modern organization.
Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship.
A contract may be defined as an agreement made between two or more corporations or persons that the courts will enforce. Contract law varies from many other areas of the law in that,
The parties need only follow the values set out in the law to create their own rights and duties that the courts will then enforce. In some respects, the parties create their own “law” that they are obliged to follow. The conception of a required contract that the courts will enforce involves the contracting parties to meet a number of requirements that are prescribed by the law of contract. While these necessities are not many, they must, however, be met before the agreement creates rights and duties that may be enforceable at law. These requirements are referred to as the elements of a valid contract and consist of the following. An intention to create a legal relationship, Offer , Acceptance, Consideration, Capacity to contract, and Legality. The concept of a contract as a bargain or promise struck by two parties is based upon the premise that the end results will be a meeting of the parties’ minds on the terms and conditions that will form their agreement with each other. Each will usually agree to do, or maybe not do certain things in return for the promise of the former to do certain things...

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