In the Context of Business Ethics, Distinguish Between Bribery and Extortion

question 95

Essay

In the context of business ethics, distinguish between bribery and extortion with examples.

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Definitions:

Bank Robbery

The illegal act of stealing money or assets from a bank while it is open for business.

Implied-In-Fact Contract

A contract implied by direct or indirect acts of the parties.

Unfairly Benefited

A situation where one party gains an advantage or profit at the expense of another in an unjust manner.

Quasi-Contract

An obligation imposed by law to prevent unjust enrichment, even in the absence of a formal contract.