Describe the elements of valid contract

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Reference no: EM1321543

In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss.

Write a five to six (5-6) page paper in which you:

1. 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.

2. 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.

3. Compare and contrast the differences between intentional and negligent tort actions

4. Discuss the tort action of "Interference with Contractual Relations and Participating in a Breach of Fiduciary duty" and, if the bank you've chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.

5. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation.

6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.

Reference no: EM1321543

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