The Sales Representatives for Latoka Industries, a Manufacturer of Security

question 1

Multiple Choice

The sales representatives for Latoka Industries, a manufacturer of security systems for schools, warehouses, government buildings and other industrial and institutional markets, has been told they will now have to sell a newly designed security system to consumers. (Note the sales force was not given any training on how to sell to the consumer market.) Which of the following statements describes a likely problem for the Latoka sales force?

• A) Role inaccuracy will occur because Latoka's sales reps view themselves as industrial salespeople, not consumer salespeople
• B) Role expectation will be a problem because Latoka's sales force will not know what consumers expect them to do
• C) Role conflict is likely because consumers will make demands that are unlike those made by industrial and institutional customers
• D) Role ambiguity will occur because Latoka's salespeople will not believe they have the information needed to sell to the consumer market
• E) All of the above

Recognize the characteristics and legal implications of cooperatives and how they differ from other business organizations.

Understand the concept of vicarious liability and conditions under which it is assigned.

Identify the types and implications of power of attorney.

Analyze the legal interpretations and outcomes of cases involving power of attorney and trust transfers.

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Definitions:

Consensual Secured Transaction

A financial agreement where both parties agree to the deal, and collateral is provided to secure the transaction.

Debtor

An individual or corporation that owes money or a debt to another, known as the creditor.

Collateral

Assets pledged as security for the repayment of a loan, forfeitable in the event of a default.

Contractual Defenses

Legal arguments that can be used to challenge the enforceability of a contract, such as incapacity, duress, or fraud.