Reference no: EM132489292
Fred of Fred's Fabulous TV and Stereo Emporium and Sue of Sue's Electronic Supply have been doing business with one another for over 10 years. Initially Fred was quite happy with the relationship and found Sue's service to be excellent. Over the past year and a half, however, shipments form Sue's Electronic Supply have been late with increasing, and alarming, frequency. Fred has spoken to Sue about this, and while the problem was solved for a short time, it has recently begun to be a problem again. On the other hand, Sue's prices are the lowest that Fred has managed to find.
From Sue's perspective, the relationship also began as prosperous. Recently, however, Fred has hired a new accounts payable clerk, who regularly misses the due dates for payment and sends the money late. Sue also has suppliers and finds this inconvenient and that her relationships with her suppliers are deteriorating. As was the case with Fred, Sue has called and spoken to the clerk, which improved things briefly, but they shortly reverted to late payments.
Last week Fred ordered a shipment of TVs and DVD players from sue in preparation for a sale that he was having this past Saturday. He advertised the sale in the newspapers and on television and had clowns and an elephant on hand. The shipment of merchandise did not arrive on time and Fred was forced to give rain-checks to his customers. He believes that he lost significant business. When he called Sue, she told him that she was still waiting for payment from the last shipment, which was overdue, and was not at all sympathetic.
In light of the foregoing, and assuming that direct negotiation between the parties has not been successful, answer the following questions:
(a) List, and briefly explain, in chart form, the dispute resolution mechanisms available to Sue and Fred and provide three advantages and disadvantages for each (please explain your answers thoroughly).
(b) If you were advising Fred as to how to proceed, which one of the available mechanisms would you suggest he select and why and which ones would you reject, and why?
Discuss the legality of james woodall arrest
: Applying the legal principles relating to crime, analyze and discuss the legality of James Woodall's arrest.
|
Public health professional interview assignment
: Public Health Professional Interview Assignment help - What services and programs are provided for this population? Which of the services are primary, secondary
|
Find the accounts receivable turnover ratio
: Purchases returns & allowances, $44,000. The data are complete and provide the basis for preparation of an income statement. How much is net income?
|
Compute the amount that will appear in the cash budget
: T. Bailey Ltd is planning to purchase equipment costing $45,000. Compute the amount that will appear in the cash budget for the quarter ending 31 March
|
Dispute resolution mechanisms
: List, and briefly explain, in chart form, the dispute resolution mechanisms available to Sue and Fred and provide three advantages and disadvantages for each
|
Dispute resolution mechanisms
: Which of the dispute resolution mechanisms would you select to resolve these claims and why would you select it? Why would you reject the other ones?
|
Prepare the journal entries to record transactions
: Nash, Inc decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. Prepare journal entries to record transaction
|
Framework for business ethics
: Would Ford's decision to forego repairing the defective design comply with these ethical guidelines? If so, why? If not, then what actions should Ford
|
How the business would record and adjusting entry
: At month end, when preparing the financial statements, an inventory shows that $700 of office supplies is still on hand. The business would record
|