Ruby Is a Junior Sales Clerk Employed in the Sporting

question 53

Essay

Ruby is a junior sales clerk employed in the sporting goods department of Lear's, a large department store. Because of her work she gets to know Basinger, the supplier of tennis racquets to Lear's. After talking to Basinger for some time, she asks Basinger if it would agree to sell 100 tennis racquets to Lear's for 10% less than the price Lear's usually pays if Lear's would agree to send all its racquet stringing and repair business to Basinger. Basinger agrees to this proposal. That afternoon, Ruby advises the president of Lear's about the deal she has worked out with Basinger. The president says that while she likes the price reduction, Lear's cannot accept the commitment regarding the stringing and repair business. Lear's has an existing commitment to send all such business to someone else. Is Lear's bound by the contract negotiated by Ruby? Can Lear's accept the contract excluding the commitment to send Basinger all the stringing and repair business? Can Ruby have the contract ratified by Beaton's, a competing department store? Is Ruby bound personally?

Understand the process and organization of conducting research for formal report writing.

Acknowledge the legal and ethical considerations in report writing, including copyright and plagiarism.

Recognize the importance and components of the front matter in a formal report.

Understand the various purposes and methods of documentation in reports.

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Definitions:

Money Supply Growth

An increase in the total amount of money in circulation or in the hands of the public within an economy over a specific period.

Fiscal Reforms

Changes in government policies or taxation designed to improve a country's economic condition.

Credibility

The quality of being trusted and believed in, often critical in financial markets, international relations, and information dissemination.

Sacrifice Ratio

A measure of the economic cost of reducing inflation, quantified by the percentage loss in output or production for a one percent decrease in inflation.