Margin call "legal perspective"

Margin call “legal perspective”

Legal perspective in the movie, “Margin call”

This movie features a number of illegal activities that people engage in. People with the responsibility of ensuring that they conduct their businesses in a fair way; exploit and use the opportunity to siphon money from unknowing customers. These actions affect the economy as well as abuse the rights of customers.

In this film, the illegal activity is fraud case. In the movie, a number of persons perpetrate this illegal act. One of them is Emerson. He is the boss and he contends that he took $2.5 million in the previous year. This money was siphoned from the business account without other person knowing. The money was used in the pretext of many unnecessary allowances. Even when his junior, Seth who seems not to have mastered figures questions him about the act as hurting the normal people, he does not seem to be hurt or carried away with his actions. Other people that engage in such practices are Tuld who advice that the transactions done should be deleted from the database in the bank to ensure that there is no evidence when the customers become suspicious of their actions.

The activities that these people engage in violate the established rule of law that functions to protect the rights of the customers. Fraud is defined by the rule of law as an intentional misrepresentation or deceit (John para.2). For a fraud to be recognized and charged there must be a false representation that was done in the past or in the present material fact. The person behind the false assertion must be knowledgeable about the practice that aims to make a claimant to behave or act in a way to justify the claimant act. The claimant must suffer some damage that is caused due to the misrepresentation.

These elements are manifest in the character of the fraudsters in the movie. Emerson for instance, took away $2.5 million from the account knowing that the act that he was involved in was not just. He knew that the customers were going to suffer from his act. However, he did not give this a thought. Therefore, he acted fraudulently. Same to Tuld, as the boss, he decided to delete all bank information to remove any evidence trails. He takes this action because, he is aware that he involved in actions that were in contravention of the rights of customer. He took their money from the accounts and therefore, making them to suffer. Knowing what he got involved in, he is aware of the consequences and therefore endeavors to delete any traces of evidence from the database.

Therefore, Emerson and Tuld are suspects and should be taken before the court of law for involving in fraudulent activities. Their action was intentional misrepresentation that made the claimants who are the customers to suffer. Therefore, when taken to the court for answering these charges, they are not likely to win if clear evidence is presented in the court. They committed a criminal offense of stealing money from the customers. The court would find them with mistake for engaging in fraudulent act knowingly and if they do not have confidence in the accuracy of their statements and have no basis of their representation that they implies or states. Therefore, in conclusion, the movie has touched and elevated on some of the economic crimes that managers engage in and how it affects customers. Such legal issues that should be dealt with in the court of law to ensure that, culprits are put behind bars and remained answerable to their offenses.

Work Cited

John, Ella. Common law fraud claims: A critical tool for litigators. 22. 4.2006. Web 22 April 2013. Retrieved from: http://www.mnbar.org/benchandbar/2006/sept06/fraud.htm