Fred, a Successful Stockbroker, Gives a Lecture About Investing

question 54

Essay

Fred, a successful stockbroker, gives a lecture about investing. Some of the persons who attend the lecture form Gain & Profit, an investment club, and ask Fred to advise them. Gain & Profit allows Fred to set up an account for the club with a brokerage firm and gives Fred control of the account, but does not authorize Fred to withdraw funds for his own bene?fit. Fred uses the money in the Gain & Profit account to repay per?sonal loans. Charged with embezzlement, Fred defends his actions on the ground that he intended to repay the club. Is Fred guilty of embezzle?ment? Why or why not?

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Definitions:

Union Density

The ratio of workers who are union members to the total number of workers within a specific area or sector.

Exclusive Representation

A principle in labor relations where a chosen union is the sole body representing a defined group of workers in negotiations with their employer.

Majority Support

The condition in which more than half of a group endorses a particular idea, action, or entity, often used in the context of union recognition.

Union Representation

The act of labor unions acting as intermediaries between workers and employers, advocating for employees' rights, wages, benefits, and working conditions.