Exam 15: Legal and Ethics

A) is never legally binding.
B) normally must include some written notation if the price of the order exceeds the limit established by the statute of frauds.
C) may be revoked if the buyer sends a notice of objection within 30 days of receipt of the goods.
D) that is partially performed (for example,one of ten lots is delivered) is automatically canceled under the doctrine of force majeure.
E) is not valid unless and until some form of documentation is signed by both parties.

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A) the buyer behaves as if the seller no longer owns the goods.
B) the buyer fails to reject after a reasonable opportunity to inspect.
C) the goods have been in possession of the buyer for 30 days.
D) the buyer behaves as if the seller no longer owns the goods and the buyer fails to reject after a reasonable opportunity to inspect.
E) the buyer behaves as if the seller no longer owns the goods,the buyer fails to reject after a reasonable opportunity to inspect and the goods have been in possession of the buyer for 30 days.

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A) of great concern to creators of intellectual capital,but few other people.
B) of little concern because international intellectual property laws already apply.
C) of great concern globally because there is no uniform body of law.
D) are eased by advancements in the duplication and transfer of information.
E) have been eased by the passage of World Trade Organization directives.

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A) has no impact on the supply management process.
B) affects internal accounting procedures of privately-held companies.
C) requires the Chief Purchasing Officer to sign off on every contract.
D) requires listing off-balance sheet items such as long-term purchase agreements.
E) requires supply management to report directly to the Chief Financial Officer.

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A) sourcing defects,design defects,and manufacturing defects.
B) sourcing defects,manufacturing defects,and marketing defects.
C) design defects,specification defects,and manufacturing defects.
D) design defects,manufacturing defects,and marketing defects.
E) specification defects,sourcing defects and marketing defects.

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A) warranty of title and against infringement.
B) express warranty.
C) implicit warranty.
D) implied warranty of merchantability.
E) implied warranty of fitness for a particular purpose.

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