Gloria Goes to a Local Used Car Dealership to Look

question 128

Essay

Gloria goes to a local used car dealership to look for a car.The dealership's owner shows her a car and states that it "runs like a champ" and that it only has 50,000 miles despite being eight years old.In fact,the car had 150,000 miles but the dealership had altered the mileage.Gloria,who works at a garage as a mechanic,looks the car over and discovers a number of problems but thinks to herself that she is able to fix them herself at low cost and with little problem.In particular she notices the tool marks where the used car dealership had turned back the mileage on the odometer.After negotiating a reasonable price she buys the car.That afternoon she starts to work on the car and discovers that the repairs were more extensive than she realized and calls the dealership,which refuses to take the car back.If she sues for fraud,what is the likely outcome?

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Definitions:

Knowledge Retention

Knowledge Retention is the process of systematically capturing, storing, and managing the knowledge created within an organization to ensure it can be accessed and used in the future.

Market Definition

The process of determining the boundaries of a market, including potential customers and competitors, based on geography, demographics, and product use and needs.

Situation Assessment

An evaluation of the current conditions, challenges, and opportunities facing an organization or project, often as a basis for strategic planning.

Diseconomies Of Scale

Refers to the phenomenon where, beyond a certain point, increasing production results in a rise in the average cost of each unit produced due to factors like management inefficiencies and logistic issues.