Tim and Kristen work together in College Station, Texas. Tim mentionsthat he is selling his car and Kristen offers to buy it. When Kristen getsthe car, the air conditioning doesn't work. Kristen says, "The deal is off."Tim responds, "No, we had a contract."If the parties do not want to go to court, but they would like a third-partyto be involved, what form of alternative dispute resolution (ADR) couldthey use?O ArbitrationMediationO NegotiationEither Arbitration or Mediation◄ PreviousNext ▸

Alternative dispute resolution (ADR) is also called External dispute resolution. It is a means of…

Answered: Tim and Kristen work together in…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

While mingling with neighbours at a party, While mingling with neighbours at a party, Tyler mentions that he is responsible for evaluating bids for a large computer software contract. A few days later, Tyler receives a lunch invitation from one of his neighbours who also attended the party. Over appetizers, the conversation turns to the contract Tyler is managing. Tyler’s neighbour seems remarkably well informed about the bidding process and likely bidders. Tyler volunteers information about the potential value of the contract and briefly outlines the criteria his firm will use to select the winner. At the end of the lunch, Tyler’s neighbour surprises him by revealing that he is a consultant for several companies in the computer software market. Later that day, Tyler’s mind is racing. Did Tyler reveal information that could provide a supplier with a competitive advantage in the bidding process? What are the potential business risks and ethical issues in this situation? Should Tyler…
Choose the right answer. 2. (The law of Agency) Conflict of interest means ________________. a. Agent is interested in Principal business b. Principal is interested in Agent business c. Agent stands to compete with Principal interest d. Principal stands to compete with Agent interest 3. (Law of Contract) The agreement is _____________ if it is caused by mistake as to any law in force in Malaysia. a. voidable b. void c. valid d. illegal 4. (Law of Contract) Yan wants to borrow RM20,000 from her friend Pang and Pang agrees to lend the money if Yan agrees to pay the money to Cathy, his sister in four installments. The above situation illustrates the principle of __________. a. consideration need not move from the promisee b. part payments are valid consideration c. natural love and affection is valid consideration d. executory consideration is performed after contract is made
Which of the following represents an agency relationship? 1) Horace wants to sell his farm and hires Marcie as his realtor. The two agree that if Marcie finds a buyer for the farm at Horace's price, then Horace will pay Marcie 7% of the price he receives. 2) Bob dies and leaves his assets in a trust for his minor child, Lilly. In the trust, Bob appoints Reggie as the trustee to act for Lilly's benefit. Since Reggie has a fiduciary duty to Lilly as trustee, Reggie is Lilly's agent. 3) Lucy contracts to sell her car to Tony for $5,000. Tony purchases the car only to find it not in the condition that Lucy described it. Tony is claiming that Lucy violated her fiduciary duty to him as his agent under the agreement. 4) Hunt is an attorney of questionable ethics. Roger, one of Hunt's clients, is arrested for DUI, but appears to be too intoxicated to consent to a breath test. Hunt is contacted by…
Lefa is a Junior Security Guard at Company X. He applies for a promotion and he is informed that for him to be considered for a possible promotion, he will have to cut his dreadlocks. However, Lefa is a Rastafarian and he does not cut his dreadlocks due to his religious beliefs. Thabo is hired instead because Lefa refused to cut his dreadlocks. Answer the following questions: 4.3.1. Outline the dispute resolution procedure that Lefa should follow to refer an unfair discrimination dispute against his employer Identify and explain a potential justification that the employer may use for his choice to hire Thabo in these circumstances. Discuss whether the employer was justified in its decision not to appoint Lefa.

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS