Explain the creation and working of guaranty contracts
What will be an ideal response?
A guaranty contract occurs when one person agrees to answer for the debts or duties of another person. Guaranty contracts are required to be in writing under the Statute of Frauds. In a guaranty situation, there are at least three parties and two contracts. The first contract, which is known as the original contract, or primary contract, is between the debtor and the creditor. It does not have to be in writing (unless another provision of the Statute of Frauds requires it to be). The second contract, called the guaranty contract, is between the person who agrees to pay the debt if the primary debtor does not (i.e., the guarantor) and the original creditor. The guarantor's liability is secondary because it does not arise unless the party primarily liable fails to perform.
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To prevent duplicate purchase requests and to allow the requesting department to ensure that a purchase order has been created, the purchasing department should ______________________________
Fill in the blank(s) with correct word
Ralph Goldsmith works for Zenith Inc, a leading cosmetic company based in Illinois. At Zenith, Ralph's primary responsibility revolves around digging deeply into customer data to gain valuable insights about customer needs, motives, and attitudes
This data is, in turn, used by Zenith to personalize its customers' shopping experiences. Ralph's position at Zenith requires him to focus primarily on ________. A) customer sales B) human resource management C) risk assessment D) financial analysis E) customer relationship management
Which of the following qualities is NOT necessary for a person to be an effective follower?
A) experience and training B) aspirations of leadership C) rigid rules and procedures D) intrinsically satisfying work E) job provides its own feedback
When we use lot splitting, we divide a single lot into ______.
A. two or more sublots and process each sublot on similar work centers B. two or more sublots and manufacture each batch or sublot in sequence C. two or more sublots and outsource the manufacture of one or more sublots D. multiple sublots and process each sublot on different work centers