THE LEGAL ASPECT OF PURCHASING

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Purchasing and Supply Chain Management
by W.C. Benton

Chapter Three
The Legal Aspects o...

Learning Objectives
1. To understand the legal aspects of the purchasing
function.
2. To understand what factors are in...

Learning Objectives
6. To be able to distinguish between an offer and a
non offer.
7. To learn about the possible outco...

Learning Objectives
11. To understand how to comply with women
business enterprise (WBE), minority business
enterp...

The Legal Aspects Of Purchasing
• The purchasing manager is an agent for the firm. The terms
purchasing manager, buyer, ...

The Title and Duties-Purchasing Agent

The most important task that the purchasing officer is
involved in is representi...

The Title-Purchasing Manager

• Recently, the term has been superseded by vice
president of purchasing, vice president o...

Legal Status of Purchasing Manager
• From a legal point of view, the following
factors are associated with the app...

Authority of the Purchasing Manager
• The three types of purchasing authority are express
authority, implied authority, ...

Execution Of Contracts
and Purchase Orders
• Purchasing personnel routinely sign purchase orders and
...

Essentials of a Purchase Contract
1. The parties must be capable

2. The subject of the matter must be legal and valid

3....

Offers
• Purchasing agents receive numerous offers on a daily
basis and must be able to identify complete
legitimate o...

Invitation To Do Business
• In most instances, the purchasing official initiates an
invitation to do business. The purch...

Counteroffers
• The negotiations process between the buyer and the
seller usually leads to many offers and counteroffers...

The Time Limits of an Offer

1. The offer may lapse
2. The offer may be rejected
3. The offer may be revoked
4. The offer ...

Firm Offers
• The firm offer question should be raised when
quotations are requested. This approach gives the
supplier...

Option Contracts
• In case the supplier is unwilling to give the buying
firm a firm offer, the purchasing professional s...

Bid Bonds
• A bid bond enlists a third party into the transaction.

• The supplier secures a bonding company to
guarante...

Promissory Estoppels

• The construction industry is unique in that the
general contractor accepts offers from
subcont...

Promissory Estoppels (Example)

• There is a famous case in which a prime contractor
solicited a telephone bid from a pa...

Oral Contracts
• Oral contracts occur everyday. Ordering a pizza is an
oral contract. However, oral contracts have no pl...

TERMS OF A
CONTRACT

3-22

Quantity Quality

1. Concrete is quoted in • The purchasing
cubic yards. professional mu...

Price and Credit Terms
• The price is determined when the offer is accepted.
In some cases, price escalation clauses are...

Delivery Terms
• Delivery terms are closely related to price terms.

• The transportation between the buying and selling
...

Leasing
• Leasing is becoming more attractive for both
consumers and businesses. Consumers are leasing
automobiles in ...

The Legal Impact
of the Information Age
• The Internet has infiltrated every aspect of the
world. E-mail...

The Impact of the
Information Age
• More and more consumers and businesses are
contracting internationally...

Electronic Contracts and
Signatures

• In 1996 the United Nations Commission on
International Trade Law (...

Electronic Contracts
• A secure signature should be such that it can be used to
identify the signer. This does not mean ...

Cryptographic Signatures (PKI)
• Cryptography is the science of securing information.
The technology is based on scrambl...

The Federal Electronic Signatures in Global and
National Commerce Act (ESGICA)

• The federal Electronic Signatures...

Purchasing and Ethics
• In society, some people are respected based on the
amount of money they have, regardless of the ...

Women and Minority Compliance
• Government contractors, under certain conditions must
award subcontracts to minority or ...

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