Is litigation the preferred method for settling most disputes? Why/Why not?
What is the uniform commercial code (UCC)?
Explain: The buyer is an agent of the employer.
Explain the distinction between actual and apparent authority. Why is this important for supply chain management professionals to understand?
Explain: For a contract to be valid, there must be an offer and an acceptance.
What does the UCC say about the revocation of offers?
Besides an agreement or "meeting of the minds" what other 3 elements are required for a contract to be valid?
What does the UCC say about oral agreements between merchants?
Explain the right of rejection. What are the buyer's obligations when exercising this right.
Explain
What constitutes a breach of contract by a seller? What are the buyer's rights if a breach occurs?
What is an anticipatory breach? What are the sellers rights if one occurs?
Explain the circumstances under which a buying firm can inadvertently waive its rights (p 709)
What does the UCC say about honest mistakes?