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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.


Definitions:

Presentment Warranties

Assurances given by the presenter of a negotiable instrument regarding its validity and their authority to enforce it.

Warrantor

An individual or entity that guarantees the condition of a product or service.

Ratification

Ratification is the formal approval of an agreement, treaty, or contract, often by voting or through some legal process, making it officially valid.

Unauthorized Agent

An individual who acts on behalf of another party without having been given the legal or official authority to do so.

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