Management and Organizational Studies 2275A/B Chapter Notes - Chapter 23: Caveat Emptor, Fob (Shipping), Due Diligence
17 Mar 2015
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Chapter 23: sales and marketing the contract, product, and promotion. Objectives: to protect consumers from physical harm, foster fair competition, protect consumers from unfair selling practices. All areas of law that influence and direct the creation, promotion, pricing, and distribution of goods, services or ideas. Essence of marketing: terms of contract relating to sale, delivery of product, transfer of ownership, remedies for breach of contract terms. Implied terms: goods = personal property in tangible, portable form, as well as items attached to land that can be severed, contract law, conditions. Seller has the right to sell goods. Goods will be reasonably fit for the intended purpose (which the buyer makes known in a way to show that they are relying on the skill of the seller) Merchantable quality goods are bought by description. Goods are of reasonable quality considering the price paid. Goods correspond to sample reasonable opportunity to compare the goods with the sample.
