Dodger bought an insurance contract from Liberty Farm Co The policy contained a clause stating that all claims for losses had to be reported within 45 days after the date of the loss or the claim would be barred. Time is stated to be of the essence. Dodger sustained a covered farm loss, but did not report it to Liberty Farm until 50 days later. Liberty Farm denied coverage for the claim. If
Dodger sues, who wins?
a. Dodger wins; the contract was substantially performed.
b. Liberty Farm wins; there was failure of a condition subsequent.
c. Dodger wins; courts will not enforce a time-of-the-essence clause.
d. Liberty Farm wins; the impossibility doctrine applies.
b
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Ampertonde, a company that sells consumer durables, decides to take its top 20 best-performing salespeople on a cruise for two weeks. However, the management mandates that the other salespeople who are not among the top 20 will have to report for work during those two weeks. Which of the following theories of motivation does this scenario best illustrate?
A) Reinforcement theory
B) Equity theory
C) Alderfer's ERG Theory
D) McClelland's Learned Needs Theory
Which of the following is the correct formula to calculate average merchandise inventory?
A) Average merchandise inventory = (Beginning merchandise inventory - Ending merchandise inventory) / 2 B) Average merchandise inventory = (Beginning merchandise inventory × Ending merchandise inventory) / 2 C) Average merchandise inventory = (Beginning merchandise inventory / Ending merchandise inventory) / 2 D) Average merchandise inventory = (Beginning merchandise inventory + Ending merchandise inventory) / 2
A legitimate opportunity may arise for a negotiator due to the other party's excess inventory.
Answer the following statement true (T) or false (F)
The readiness of an individual or a group to perform a specific task depends on the _________ and ________ to perform the task.
A) Aptitude; readiness B) Facility; enthusiasm C) Ability; willingness D) Capacity; motivation