JPMorgan Chase Essay Example | Topics and Well Written Essays - 750 words

JPMorgan Chase - Essay Example comparing with the laws existing or the existing banks’ policies and in case of any fraud, they take the financial institutions in court with enough evidence to prosecute. A valid contract has four major elements as explained by (Meiners, Ringleb and Edwards, 2014). The first of these elements is the offer and acceptance by both parties involved in the contract. An offer is made to the consumer who then accepts it. This is followed by intention to create legal relations which are carried out in order to ensure that the contract will be declared legally binding in which case both parties have to fulfill and abide by it. This is conducted with the presence of a witness orally or even with writing. After these two elements comes the considerations where the actual contract terms are discussed and negotiated. These include terms such as payments or any financial obligations involved or even the duration of the contract. Lastly is the signing of the contract and sealing the deal. The signing or completion of the deal through handshake should not be carried out under duress, undue influence or even under false statements which is what the fraudulent banks d o. Each party of the contract is supposed to honor their contract and not intentionally breach it as it will not only invalidate the contract but will destroy the relationship with the contracting party and this is not fair. Intentional tort actions according to (Meiners, Ringleb and Edwards, 2014) are the actions which are done by people will the desire or sole purpose to harm them. These actions are wrongful and are committed by these people consciously. The individual carrying out these wrongful actions that harm are fully aware of the consequences of his or her action as they are purposeful but does not to stop them from happening. On the other hand, negligence tort actions are those actions that are committed through the failure of individuals to be responsible enough and do the correct actions they were