Ethics Assignment

The year is 2030. You just started a new job and received a nice signing bonus of $10,000. You have been working full time, but you racked up a lot of debt as a result of your gambling addiction. You now attend Gamblers Anonymous on a weekly basis and you havent stepped foot into a Casino in over two years. This extra $10,000 will help you pay back some loans. One of the people that lent you money was your former roommate, Pat. Pat lent you $2,000 in 2018 and told you to pay it back when you can. Pat inherited a fortune from a rich uncle and spends the winters in the South of France and the summers at a lake home (mansion) in Michigan. Although you see Pat on occasion, Pat has never demanded payment from you and you have not paid Pat any of the $2,000 back. Now you are wondering whether you should pay back the money he lent you. Pat doesnt need the money and you remember from your Legal Environment of Business class that once the statute of limitations has run on an obligation, the creditor cannot sue to collect on that debt. In Michigan, the statute of limitations on an obligation like this is six years. More than six years has passed since Pat lent you that money and there is no way that Pat can sue you to collect.

a. Identify the ethical dilemma(s) in this situation.

b. Use an ethical decision making model to determine the right course of action to take in this situation.

You are reminded that you should utilize the following in your answer:

a. You should present logical arguments and effectively convey your point of view;

b. You should correctly apply the rules of grammar, punctuation, and spelling;

c. You should research using multiple, credible sources;

d. You should cite your sources using those commonly used in legal citation.