Ethical aspect of contracts


Problem:

Here is an ethical aspect of contracts -imagine you were a ticketholder to a Michael Jackson concert at the time of his death. The Final Tour is announced, tickets go on sale, the shows immediately sell out, and then Michael Jackson dies quite suddenly two weeks before the tour is to begin. Aside from any legal contractual issues, discuss the ethical considerations for what to do about refunding the tickets. That is, even if the agreement that ticketholders (generally unknowingly) entered into said their money would not be refunded in such an event, discuss the ethics of the situation.

Who are the stakeholders?

What are the issues involved?

What does the tour promoter stand to lose with each scenario?

What does it stand to gain?

Where do law and ethics interface here in such an unprecedented occurrence (not just the death of a performer, but one of Michael

Jackson's unparalleled stature)? Does sentiment enter into the picture under the circumstances? In what way? Should it?

How would you determine the best ethical position to take about refunding the money?

Answer with references/citations

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Business Law and Ethics: Ethical aspect of contracts
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