14_Sourcing_law_and_ethics_extended

14_Sourcing_law_and_ethics_extended - Sourcing Law and...

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- 1 - Sourcing Law and Ethics
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- 2 - Purchasing Law Laws of agency Laws of agency Legal authority Legal authority Personal liability Personal liability Contract law Contract law Essential elements Essential elements Cancellation of orders Cancellation of orders The U.C.C. uniform commercial code The U.C.C. uniform commercial code
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- 3 - A UCC Example The Mark Antony Pet Shops writes to Cleopatra: “Dear Cleo: A once-in-a-lifetime opportunity for you. We just received a shipment of asps. They are healthy and friendly, love kids, and make great watch-snakes. As a preferred customer you can receive one for $50. The price includes fang removal. Please respond by fax only.” Cleo sends a letter of acceptance by regular mail, since she has read that the UCC allows acceptance by “any reasonable means.” Is Cleo’s acceptance valid? If nothing else is specified
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- 4 - Contracts Fixed price contracts Firm fixed price … with escalation … with redetermination
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14_Sourcing_law_and_ethics_extended - Sourcing Law and...

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