Encino Ltd

question 90

Essay

Encino Ltd. received an invoice dated February 16 for $520.00 less 25%, 8.75%, terms 3/15 E.O.M. A cheque for $159.20 was mailed by Encino on March 15 as part payment of the invoice.
a) By how much did Encino reduce the amount due on the invoice?
b) How much does Encino still owe?

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Definitions:

Grievances

Formal complaints made by employees or unions regarding violations of contracts or unfair treatment in the workplace.

Arbitration

A dispute resolution process where an impartial third party, the arbitrator, makes decisions to resolve a dispute outside of court.

Mediator

A neutral third party who facilitates negotiations between conflicting parties with the aim of reaching a voluntary, mutually acceptable resolution.

Just Cause Clause

A provision in an employment contract requiring the employer to provide a legitimate reason for terminating an employee.