Examlex
Departmental managers at Boswell Department Store are allowed considerable discretion in both sourcing and pricing of products, based on local tastes and competition, as well as being responsible for departmental staffing. Based on the concept of the responsibility center, which of the following would not be a performance measure that would be useful in evaluating the performance of departmental managers at the stores?
Disclaimer
A term in a contract whereby a party attempts to relieve itself of some potential liability associated with the contract. The most common example is the seller’s attempt to disclaim liability for defects in goods that it sells.
Recovery
The act of obtaining something of value through legal means, often in compensation for damages or loss.
Strict Liability
Refers to a legal doctrine where a party is responsible for damages or harm caused without needing to prove negligence or fault.
Restatement (Second)
A collection of textbooks that seek to inform judges and lawyers about general principles of common law in the United States.
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