One purpose of contract law is to determine which agreements are worthy of legal enforcement.
Answer the following statement true (T) or false (F)
True
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Sherman Manufacturing Company currently manufactures a component used in one of its products. The annual production costs for 10,000 components are as follows:
An outside company has offered to supply 10,000 units of the component for $12.50 each. If the company outsources the component, it will be able to rent out the idled factory space for $1,000 per month but will not terminate the product manager.Required:1) Which items are not relevant to this outsourcing decision?2) Identify any opportunity costs associated with this decision.3) Prepare a quantitative analysis that indicates whether the component should be outsourced.
What will be an ideal response?
Hayako, a successful author, lived in a remote village and had entrusted his agent with the management of his business affairs
Many years later, it came to light that the agent took over copyright ownership for many of Hayako's works and, as a result, made a profit of many millions of dollars. In this instance, the agent has committed the crime of ________. A) embezzlement B) bribery C) forgery D) false entry
A company check for payment must be signed by ________
A) any employee of the company B) a bank employee C) an employee specifically authorized by the company D) the external auditor
Under an implied warranty, consumers have a right to demand their money back if they are dissatisfied with the product for any reason
Indicate whether the statement is true or false