A Purchasing Agent for a Company Could Accept a Rolex

question 244

True/False

A purchasing agent for a company could accept a Rolex from a supplier so long as there is no bid pending.

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Definitions:

Duress

A condition in which a person performs an act as a result of violence, threat, or other pressure against the person.

Fraudulent Inducement

A legal claim based on a misrepresentation of fact that leads another to enter into a contract or transaction with detrimental reliance on that misrepresentation.

Infancy

A stage in human development from birth up to, but not including, puberty; in legal terms, refers to a period during which a person is considered a minor and under the protection of guardians or parents.

Negotiability

Negotiability refers to the quality of a financial instrument that enables it to be transferred from one party to another in exchange for money or as payment.