Seyed Ali Seyed Ahmadi Sajadi; Amir Bagherian
Abstract
In 1985, Enron Company started its business in order to produce and sell energy and was promoted to the greatest company of energy all over the world, rapidly. So, this company acquired the seventh grade between five hundred big companies in the United States according to the rankeing done in 2001. At ...
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In 1985, Enron Company started its business in order to produce and sell energy and was promoted to the greatest company of energy all over the world, rapidly. So, this company acquired the seventh grade between five hundred big companies in the United States according to the rankeing done in 2001. At the end of 2001, the company became bankrupt and America was faced to the greatest bankruptcy in its history. Consequently, many companies or people lost their capital and jobs. Thus, it is worthy, to study the causes of bankruptcy in this company, and may approve the acts for protection of stockholders in order to provide a situation that may prevent such occurrences in Iran.
The present study aims at exploring the main reasons for its bankruptcy with emphasis on corporates law along with a brief introduction of Enron Corporation.
Findings of this research revealed that there are major factors in the collapse of this big energy company such as finance violations, lack of fraud risk management, lack of transparency and secrecy, structuring, disregard for the rights of shareholders and violation of the principles and moral rules.
Mahboubeh Abdolahi; Sayyed Ali Ahmadi Sajadi
Abstract
In most legal systems, service consumers, as the weaker party to the contract, are covered by protective provisions. Due to the particular complexity of electronic funds transactions, consumers need further protection, which should be proportionate with the requirements of this type of transactions.
In ...
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In most legal systems, service consumers, as the weaker party to the contract, are covered by protective provisions. Due to the particular complexity of electronic funds transactions, consumers need further protection, which should be proportionate with the requirements of this type of transactions.
In some countries, such as America, independent regulations have been ratified to protect consumers in this kind of transactions, but there is no particular provision in Iran’s legal system in this regard, and existing regulations do not meet the special requirements of these transactions. These regulations suffer defects in areas such as informing the consumer, limiting the consumer’s responsibility, and delegating the settlement of disputes to the bank, which should be reformed.
In this article, the concept of consumer, the existing regulations for protecting the consumer and legal approaches to protect the consumer in electronic funds transactions in Iran’s and foreign legal systems will be investigated.
