Matrix,Inc

question 34

Multiple Choice

Matrix,Inc.is the general contractor of a large commercial building project.Matrix subcontracted with Acme Flooring,Inc.to have flooring installed throughout the building.When Matrix failed to make payments to Acme as agreed,Acme stopped working.Commercial Bank,the lender for the project,orally promised Acme that Commercial would pay whatever Matrix failed to pay Acme if Acme would resume work.Acme finished the flooring,but was still not paid.Which of the following is true under the Statute of Frauds?

• A)According to the primary objective test,Commercial Bank is not obliged to pay Acme as the promise must be written and signed.
• B)According to the primary objective test,since Commercial Bank's promise enhanced its mortgage interest,it is liable for payment to Acme.
• C)According to the main purpose test,Commercial Bank is not obliged to pay to Acme since Matrix was not a party to its promise.
• D)According to the primary objective test,since Commercial Bank's promise did not involve the actual lending of money,it is not liable to Acme.

Recognize the importance of effective communication in management.

Distinguish between different managerial functions such as planning, organizing, leading, and controlling.

Analyze the role of diversity and discrimination in the workplace and management's responsibility.

Comprehend the significance of handling change within an organization and the skills required for implementing it.

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Definitions:

Distributive Bargaining

A negotiation strategy in which one party's gain is the other party's loss, focusing on dividing a limited amount of resources.

Resistance Point

The least favorable outcome a negotiator is willing to accept before opting out of the negotiation.

Alternatives

Other possible options or courses of action that can be taken when the first choice is undesirable or not possible.

Negotiations

A series of discussions and exchanges between parties with differing objectives, aimed at reaching a consensus or settlement that is acceptable to all involved.