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    Accepting gifts

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    Please help with the following problem. Provide at least 100 words in the solution.

    Your company has a 100 million dollar contract to award to a vendor. The choice is between company A and company B. You provide your input to your boss who makes the final decision and chooses company B. At a congratulatory dinner, while making small talk, you mention to a representative of company B that you really want to get a flat screen TV but are waiting for prices to fall. The next week a 50" plasma TV arrives at your door with a card that says:

    "Best wishes and Thanks"
    Company B

    Your company has no formal policy regarding the acceptance of gifts. What do you and why?

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    Solution Preview

    The best thing to do is to return the TV because this could be seen as a bribe. The fact that Company B signed the card "Thanks," shows that this is not just a minor gift. Also, while ...

    Solution Summary

    This solution helps with a business law problem. The issue discussed is the formal policy regarding the acceptance of gifts. The explanation is given in 132 words.