Visit the website of the National Institute of Standards and Technology, the organization that grants the Malcolm Baldrige National Quality Award, the highest quality award in the United States. Research one of the companies that received the Baldrige Award and prepare a summary of its quality initiative and the results that it produced.
Read "Entrepreneurship in Action: Who Bears the Loss for a Shipment of Missing Watches," in Chapter 19 on page 663. Answer the following questions:
- What mistakes did Karinol Corporation and Pedro Pestana make when they created the contract for the sale of the watches?
- In the absence of an agreement on risk of loss and specific shipping terms in the parties' contract, what kind of contract will the court rule this is?
- Who will prevail in this case?
- What could the losing party have done to protect against the loss or theft of the watches?
Write a 1-2 page paper detailing the above questions, and be sure to cite your references.
You can find Who Bears the Loss for a Shipment of Missing Watches," on http://www.leagle.com/decision/19791463367So2d1096_11292.xml/PESTANA%20v.%20KARINOL%20CORP. Which provided the same information detail from the textbook.