Question 1

Exceeding both actual and apparent authority can have dire consequences; an individual may be held directly liable by the supplier or other third party.

Accepted Answer

A) True 
 B)False

Question 2

All of the following are requirements to receive trade secret protection under law except _____.

Accepted Answer

A) almost every one outside the company is aware of it 
B) the organization must take steps to minimize or preclude the distribution of sensitive information 
C) it is economically valuable 
D) it is not generally known 
E) it is kept as a secret 
A) almost every one outside the company is aware of it 
B) the organization must take steps to minimize or preclude the distribution of sensitive information 
C) it is economically valuable 
D) it is not generally known 
E) it is kept as a secret

Question 3

_____ involves the buyer seeking a court order forcing the seller to deliver the goods.

Accepted Answer

A) Arbitration 
B) Specific performance 
C) An implied warranty of merchantability 
D) An express warranty 
E) None of these answers. 
A) Arbitration 
B) Specific performance 
C) An implied warranty of merchantability 
D) An express warranty 
E) None of these answers.

Question 4

In its most basic form, a _____ is defined as a promise or representation made by the seller, which, if necessary, can be legally enforced.

Accepted Answer

A) statement of fact 
B) verbal agreement 
C) contract 
D) warranty 
E) buyer's right of rejection 
A) statement of fact 
B) verbal agreement 
C) contract 
D) warranty 
E) buyer's right of rejection

Question 5

Ethics have their basis in the field of philosophy and identify common principles associated with appropriate versus inappropriate actions, moral duty, and obligation.

Accepted Answer

A) True 
 B)False

Question 6

A purchase order can be an offer, acceptance, or counteroffer, depending on the circumstances.

Accepted Answer

A) True 
 B)False

Question 7

If the carrier has refused to pay a freight claim, then the claimant has _____ from the time the claim was disallowed to file for legal relief in the courts.

Accepted Answer

A) 10 days 
B) 1 month 
C) 2 years 
D) 10 years 
E) There is no time limit for pursuing freight claims in the courts. 
A) 10 days 
B) 1 month 
C) 2 years 
D) 10 years 
E) There is no time limit for pursuing freight claims in the courts.

Exceeding both actual and apparent authority can have dire consequences; an individual may be held directly liable by the supplier or other third party.

All of the following are requirements to receive trade secret protection under law except _____.

_____ involves the buyer seeking a court order forcing the seller to deliver the goods.

In its most basic form, a _____ is defined as a promise or representation made by the seller, which, if necessary, can be legally enforced.

Ethics have their basis in the field of philosophy and identify common principles associated with appropriate versus inappropriate actions, moral duty, and obligation.

A purchase order can be an offer, acceptance, or counteroffer, depending on the circumstances.

If the carrier has refused to pay a freight claim, then the claimant has _____ from the time the claim was disallowed to file for legal relief in the courts.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policies and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Supply Management and Commodity Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters

Exam 15: Purchasing Law and Ethics

Exceeding both actual and apparent authority can have dire consequences; an individual may be held directly liable by the supplier or other third party.

All of the following are requirements to receive trade secret protection under law except _____.

_____ involves the buyer seeking a court order forcing the seller to deliver the goods.

In its most basic form, a _____ is defined as a promise or representation made by the seller, which, if necessary, can be legally enforced.

Ethics have their basis in the field of philosophy and identify common principles associated with appropriate versus inappropriate actions, moral duty, and obligation.

A purchase order can be an offer, acceptance, or counteroffer, depending on the circumstances.

If the carrier has refused to pay a freight claim, then the claimant has _____ from the time the claim was disallowed to file for legal relief in the courts.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policies and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Supply Management and Commodity Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters