Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Operation Management Expert

Legal Environment of Business

1- Jenni entered into a September 28 agreement to sell Andrea $567,000 worth of steel scrap. The signed, written agreement specified delivery to take place on November 2 at Andrea's business in Omaha, Nebraska. On October 9, Jenni assigned her right to payment on the sale to 13th National Bank of Milwaukee in return for $560,000. On November 1, Jenni realized she did not have enough scrap to complete the delivery. She then contacted Walter, another scrap dealer, who said he agreed to deliver the quantity necessary. Because the price of scrap metal had fallen since September, Jenni only was required to pay $541,000 for the same weight of scrap. Jenni immediately paid Walter but did not discuss the matter with Andrea.

Walter offered to deliver the scrap on November 2 in Omaha. When Andrea saw the train cars arriving and realized the source was Walter, she refused to accept delivery of the cars full of good quality scrap metal. Andrea had a long-standing, inter-personal dispute with Walter dating back to a 2004 deal between the two. After the 2004 transaction, Andrea had decided never to deal with "that two-faced, lying scum, Walter."

On November 15, 13th National Bank demanded payment of "our $567,000 payment for the steel." Andrea refused to make any payment as did Jenni when she was subsequently asked to pay the amount on Nov. 16.

2- Beth entered into an agreement to remodel Horace's house for $450,000. Beth developed her plans and had them approved by Horace. Beth then began ordering supplies and hiring sub-contractors to perform the work. Beth worked on the alterations during a six-month period while Horace was located in Iraq for work. She specifically agreed to "complete the project on or before Nov. 20, 2013 in anticipation of your return from Iraq."

Horace returned on November 23 and went to see his house. While he was there, he noted that Beth had not completed all of the work in a satisfactory manner.

a) Beth had not installed a new air conditioning unit in the house. The agreement had specified a $30,000 high-efficiency system.

b) Beth's painters had painted the rooms but Horace looked at the results and simply said, "they are not good enough for my tastes. I am a person who takes great pride in the appearance of my home." The day before, two city building inspectors had toured the home and approved all of the work. They had specifically asked Beth who she used for the "excellent paintwork." Because of the two items, Horace declared Beth was in breach of contract. He refused to pay any of the $420,000 amounts because Beth had not performed the work. Beth offered to install the missing air conditioning system but claimed the painters did a "very professional job."

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M92556246

Have any Question?


Related Questions in Operation Management

In your post consider how globalization has linked the

In your post, consider how globalization has linked the people, policies, and livelihoods of nations throughout the world. This linkage can be severely affected by several factors which include political turmoil, natural ...

Advertising and the first amendmentthe question is often

Advertising and the First Amendment The question is often asked: Does the First Amendment protect advertisements? Advertising is indeed protected by the First Amendment of the U.S. Constitution. However, advertising or " ...

1 which of the following is not a time series analysis

1. Which of the following is not a time series analysis quantitative forecasting method? Multiple regression Simple regression Exponential smoothing Moving average All of them are time series analysis quantitative foreca ...

Your boss has told you to evaluate two ovens for think the

Your boss has told you to evaluate two ovens for Think the Thinkers, a gourmet sandwich shop. After some investigation, he determines that they have the following costs. He is told to assume that: a) The life of each mac ...

The nbs television network has to decide whether to air a

The NBS television network has to decide whether to air a show or not air a show. If the show is aired then the NBS television network earns an average of $400,000 from a hit show and loses an average of $100,000 on a fl ...

A dry cleaner uses exponential smoothing to forecast

A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 55 percent of capacity; actual usage was 56 percent of capacity. A smoothing constant of .10 is us ...

The city of bozeman montana requires job candidates to list

The city of Bozeman, Montana, requires job candidates to list their social networking sites, usernames, and passwords on the city employee application. City Attorney Greg Sullivan explained that the city has “positions r ...

1 as a change leader how will you ensure that your new

1. As a change leader, how will you ensure that your new organization continues to stay current with the ever-changing needs of its environment and marketplace? 2. As a change leader how will you measure the effectivenes ...

Consider this statement cultures around the world are

Consider this statement: Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts. 1. Do you agree or disagree with this line of reason ...

Ray caldwell is the human resource manager of a management

Ray Caldwell is the human resource manager of a management consulting firm. The consultants in the company are mostly white males and are a cohesive group. Very few conflicts exist between them and decisions are made qui ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As