CFAI Bookstore / Ethics

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edsid

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I returned from a business trip this weekend and came to the office Monday morning to find my L1 CFA curriculum. I was so excited to open them up and get started but I was at work and had to wait. It was in 2 boxes and I didn't think anything of it, until I took them home and opened up both boxes to discover that they had sent me 2 sets. I quickly did some investigative work to find out if I had accidentally ordered two but no, the bookstore had just made a mistake and sent me two copies. I had just spent 400 for 1 set and received 2. At any rate I contacted CFAI's Bookstore and returned the dup set.

Selling them on ebay to recoup part of my money is likely illegal and certainly unethical. Although I did think it was kind of funny that the first book in the box is ethics and I felt like I was being tested already, even before I had cracked it open. Anyway just an error and it has been corrected.
 
illegal -why?
unethical -arguably.

you cant be blamed for taking advantage of cfai shipping department's error.
 
Dsylexic Wrote:
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> illegal -why?
> unethical -arguably.
>
> you cant be blamed for taking advantage of cfai
> shipping department's error.


I thought it was "likely" illegal because I did not pay for them and then to go ahead and resell them just didn't seem right. Okay maybe not "illegal" but I think we can agree that it is wrong to do so on some level. Or maybe I am just a sucker and should have sold them.
 
ok you did the right thing *pat on the back*

This thread is so finished.
 
lola Wrote:
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> ok you did the right thing *pat on the back*
>
> This thread is so finished.


no need for a pat on the back, i was just trying to share a story.
 
It would be illegal because you were selling property you didn't own and you knew you didn't own it. Would you really stand in front of a judge and say you thought it was a gift from CFAI? As for the ethics violation, if CFAI was helping to prosecute you, the PCP investigation would be pretty quick.
 
From the FTC website

Q. Am I obligated to return or pay for merchandise I never ordered?

A. No. If you receive merchandise that you didn�t order, you have a legal right to keep it as a free gift.


Just so we are all clear on the LEGAL side of things anyway.
 
JoeyDVivre Wrote:
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> It would be illegal because you were selling
> property you didn't own and you knew you didn't
> own it. Would you really stand in front of a
> judge and say you thought it was a gift from CFAI?
> As for the ethics violation, if CFAI was helping
> to prosecute you, the PCP investigation would be
> pretty quick.

Instead, autograph a $1 baseball and sell it for $200 with an ad denotation (CFA books thrown in absolutely free). I'm not sure if they still do, but people used to do something of this nature to circumvent sporting event/concert ticket resale laws.
 
Dsylexic Wrote:
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> you cant be blamed for taking advantage of cfai
> shipping department's error.

Why not? Is there *really* any doubt that what edsid did here was the preferable option, ethically speaking? Legal issues aside, would it be more "right" to send them back or keep them, or are the two ethically equivalent?

I do think this is a useful discussion here. Moving to the real world in a business where difficult choices like this present them all the time (I don't mean extra boxes, but whether or not to take advantage of others' slips or omissions), I'd have no hesitation in saying it's better to take the higher road.

If you ever find yourself in a situation where someone else is judging whether or not you acted ethically, your frame of mind at the time of the action or inaction that's being examined will be very relevant. Saying "you can't blame me for his mistake" is unlikely to win you the benefit of the doubt in a close case.
 
plyon Wrote:
-------------------------------------------------------
> From the FTC website
>
> Q. Am I obligated to return or pay for merchandise
> I never ordered?
>
> A. No. If you receive merchandise that you didn�t
> order, you have a legal right to keep it as a free
> gift.
>
>
> Just so we are all clear on the LEGAL side of
> things anyway.


That's quoting that law completely out of context. The FTC is referring to 39 USC 3009 which is statute preventing mail fraud and the like. The code is about intentionally mailing items to people and then billing them or otherwise extorting money from them. It does not apply in the case of someone mistakenly mailing you something valuable.

This law does give you the right not to be damaged by CFAI so they certainly couldn't send you a bill afterwards nor even demand that you pay to have the books shipped back.
 
Q. Must I notify the seller if I keep unordered merchandise without paying for it?

A. You have no legal obligation to notify the seller. However, it is a good idea to write a letter to the company stating that you didn�t order the item and, therefore, you have a legal right to keep it for free. This may discourage the seller from sending you bills or dunning notices, or it may help clear up an honest error. Send your letter by certified mail. Keep the return receipt and a copy of the letter for your records. You may need it later.

Q. What should I do if the unordered merchandise I received was the result of an honest shipping error?

A. Write the seller and offer to return the merchandise, provided the seller pays for postage and handling. Give the seller a specific and reasonable amount of time (say 30 days) to pick up the merchandise or arrange to have it returned at no expense to you. Tell the seller that you reserve the right to keep the merchandise or dispose of it after the specified time has passed.
 
Oh and btw if you sold them on eBay and CFAI found out that you did it you would repeatedly hear the term "tortious conversion" which would be part of the disciplinary committee report announcing your dismissal from the program.
 
It doesn't apply here. It's about your rights as a consumer to not have items intentionally mailed to you. The FTC is not protecting you when you tortiously convert someone else's property.
 
definition of 'tort':a wrongful act other than a breach of contract for which relief may be obtained in the form of damages or an injunction .

so to argue ad absurdum, the 'wrongful act' of shipping an extra copy started with the cfai guys. the consumer could say tort -right-backatcha to the fuddy duddies at cfai.

not that cfai always plays it fair -atleast from my point of view (india fiasco being the case in point).

i would have either thrown away the extra set or passed them on to somebody else (for free)



Edited 1 time(s). Last edit at Wednesday, June 13, 2007 at 01:40PM by Dsylexic.
 
You wouldn't need to. If you believed that CFAI was intentionally committing a wrongful act by shipping you the books, 39 USC 3009 protects you. Nobody here seriously believes that CFAI was trying to damage edsid by shipping him the books, do they?

Maybe this ethics stuff really is needed....
 
neither would edsid be trying to cause damage to cfai by selling the freebie. the damage happened the moment it got shipped out - operating expenses for cfai.come on ,principle of conservatism and all that jazz.

now edsid has to pay shipping charges for no mistake of his?.unfair.
 
Sorry, Joey... But it's fun getting your goat.

Arguing only the legal side of things, I still don't believe the CFAI would have a case against you. They didn't even notify the recipient of the mistaken shipment.
 
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