Case Scenario -
You have just been hired by Diversified Worldwide Industries (DWI), Inc., as the Vice President of Risk Management. DWI is headquartered in West Palm Beach, Florida, and has over 150 offices in 30 countries. DWI is incorporated in the State of Delaware; its ships are flagged by Liberia and the Bahamas.
The Corporation's principal activities are grouped into the following areas:
ENVIRONMENT: Water and water treatment, waste management;
OIL & ENERGY: Exploration, production, transport, refining, wholesale marketing, alternative fuels research;
COMMUNICATIONS: Telecommunications, Internet, audiovisual activities, publishing and multimedia;
LEISURE & RECREATION: Hotels, casinos, cruise ships;
REAL ESTATE: Builds homes and manages properties in active adult, age-restricted communities;
FINANCIAL: Brokerage for capital market investments in Russia, Eastern Europe, China, and emerging markets;
MANUFACTURING: Produces, distributes, markets, exports and imports spirits and wines.
Your duties as the VP for Risk Management will require that you develop knowledge and expertise in all areas of business law, consult with corporate and outside counsel on legal matters, and advise the board as to available options to reduce or minimize the risk and liability of DWI in its ongoing activities.
Task needing assistance -
The Hon. Justice Potter Stewart once wrote: "There is a big difference between what we have the right to do and what is right." Give four examples of possible DWI business situations which would illustrate this principle and explain.