MCS22 - MCS*3040 Business Consumer Law CHAPTER 22...

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MCS*3040- Business Consumer Law CHAPTER 22- PROFESSIONAL SERVICES Business and Professional Services - to understand professions and various duties of their members Relationships and obligations - businesses depend on professionals , can be found in house or contracted out to private firms professional: someone engaged in an occupation, usually governed by a professional body, requiring the exercise of specialized knowledge education, and skill. - professionals can be employee or independent supplier of service; both have responsibilities to a business - if employees; governed and bound by employment law - if external professional service; bound by contract law - professionals held to higher standards Ethical Obligations - professionals retaining membership in their profession continue to be bound by rules of professional conduct and codes of ethics of their professional bodies - obligations bring level of independence that distinguishes professional employee to manager Hiring Professionals In-House - level of speciation of concern - if another professional required Responsibilities of Professionals to Clients and Others Who Rely on Their Work - professionals owe range of responsibilities to clients; similar or identical to those of service providers - professionals owe tort duties in particular, those arising from negligence - professionals also owe fiduciary duty Responsibilities in contract - nature of service, timeliness of delivery, way in which fees for service will be billed all established in contract - contractual terms normally determined by professional - clients often unaware of provisions in contract dealing with how work will be billed and how and when retainers will be required Retainer: an advance payment requested by a professional from a client to fund services to be provided by the client - both parties must comply with terms
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This note was uploaded on 02/13/2012 for the course BUS 3040 taught by Professor Lindachiasson during the Winter '11 term at University of Guelph.

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MCS22 - MCS*3040 Business Consumer Law CHAPTER 22...

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