Donald Is an Agent Representing Xmart,a Large Department Store Chain

question 5

Essay

Donald is an agent representing Xmart,a large department store chain.Xmart has sent him to deal with Fred in regard to purchasing Fred's land in order to erect a new store.When Donald first meets Fred,Fred calls Xmart to verify that Donald is in fact an agent authorized to deal on Xmart's behalf.Xmart sends Fred a written confirmation of Donald's authorization to act as its agent and states that a contract signed by Donald will be honored by Xmart.Donald and Fred meet every other day during the negotiations.While the negotiations are still ongoing,Donald is fired by Xmart because it doesn't feel that he is making sufficient progress.Why is it important for Xmart to communicate with Fred regarding Donald's firing?

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Definitions:

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity.

Company's Management

Individuals responsible for directing and controlling a company's operations and policies to achieve its business objectives.