[Jade Shoes] Coleman Owns a Sporting Goods Store and Has

question 77

Multiple Choice

[Jade Shoes] Coleman owns a sporting goods store and has purchased top-quality, brand-name athletic shoes from Jade's Shoe Distribution for many years, but they have no written contract in place. Last month, Coleman learned that the latest shipment from Jade's are not authentic, brand-name shoes but instead a knock-off brand that costs a fraction of the price Coleman pays. Coleman cannot sell these shoes because his customers would know the difference, and Coleman demanded Jade refund him. Jade sent Coleman a written request for arbitration within thirty days. In response, Coleman called Jade, threatening to file a lawsuit against Jade and exposing her company as a fraud. Jade laughs, saying Coleman is required to arbitrate their dispute within thirty days.
-If Coleman had signed a submission agreement, but subsequently decides to file a lawsuit against Jade, would Coleman still be required to arbitrate?

• A) No, because a party has a right to file a lawsuit.
• B) Yes, because there are more advantages to arbitration.
• C) No, because the distribution contract between Coleman and Jade did not include a binding arbitration agreement.
• D) Yes, because he entered into a submission agreement.
• E) No, because a submission agreement is not a binding arbitration agreement.

Understand the concept and importance of organizational culture.

Identify the processes of internal and external adaptation within organizations.

Recognize the role of symbols, rituals, and rites in shaping organizational culture.

Distinguish between observable culture, shared values, and common assumptions in organizational settings.

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Definitions:

Actual Authority

The express and implied powers given by a principal to an agent for carrying out specific transactions.

Principal

The primary party involved in a transaction or contract, or the amount of money originally invested or loaned, before interest.

Agent

An individual or entity authorized to act on behalf of another (the principal) in legal or business matters.

Manifestations

Manifestations refer to displays or expressions of an act, event, or condition, revealing the presence or existence of something.