Chap015 - IAFFSep.9WarandChange(GilpinTheory) Hegemonicwar...

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Chapter 15 - Legal and Ethics C HAPTER 15 Legal and Ethics Topics Covered Legal Authority of Buyer and Seller Legal Authority of Purchaser Personal Liability of Purchaser Authority of Suppliers’ Representatives The Uniform Commercial Code and the Purchase of Goods The Purchase Order Contract Acceptance of Orders Purchases Made Orally—Statute of Frauds Inspection Acceptance and Rejection of Goods Warranties Title to Purchased Goods Protection against Price Fluctuations Cancellation of Orders and Breach of Contract Common Law and the Purchase of Services Principles of the Law of Software E-Commerce and the Law Electronic Signatures Uniform Electronic Transactions Act Antitrust and E-Marketplaces Intellectual Property Laws Copyright Law Patents Trademarks Industrial Design Geographical Indication Product Liability Alternative Dispute Resolution Commercial Arbitration Mediation Internal Escalation Regulatory Requirements Environmental Laws The Sarbanes-Oxley Act Ethics Perceptions and Conflict of Interest Gifts and Gratuities Promotion of Positive Relationships with Suppliers Reciprocity Corporate Social Responsibility (CSR) Conclusion Questions for Review and Discussion References Cases 15–1 Rocky Plains Brewing Ltd. 15-1
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Chapter 15 - Legal and Ethics QUIZ RESPONSES A 1. When it comes to product liability, supply management: a. lowers risk by ensuring that suppliers deliver defect-free goods. b. has little or no role since this is essentially a legal action. c. has responsibility only to the internal customer, not the final customer. d. is liable depending on the type of warranty agreed to in the contract. e. is responsible for establishing the cost of the actual damage. B 2. The  authority that is necessary, usual, and proper to carry   through to completion the express authority conferred, is called: a. apparent authority. b. implied authority. c. express authority. d. direct authority. e. performance authority. B 3. Which of the following is a factor in determining the validity of a contract? a. incompetent parties. b. offer and acceptance. c. employment in the purchasing department. d. amount over $500. e. due process. C 4. The Sarbanes-Oxley Act: a. has no impact on the supply management process. b. requires the Chief Purchasing Officer to sign off on every contract. c. requires listing off-balance sheet items such as long-term purchase agreements. d. requires supply management to report directly to the Chief Financial Officer. e. affects internal accounting procedures of privately-held companies.
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Chapter 15 - Legal and Ethics D 5. The legal authority of a salesperson normally is: a. the same as that of a buyer. b. to make legally-binding contracts for $500 or less. c.
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Chap015 - IAFFSep.9WarandChange(GilpinTheory) Hegemonicwar...

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