Clara is often likely evaluating the item' turnover dependent upon that remark made.
By sales, what do you mean?A sale is an exchange consisting incorporates exchanging products or services for a certain sum of money. To put it another way, a selling is any action that includes giving the buyer possession of a thing or commodity in return for payment.
What does a business's sales mean?Sales operational processes refer to any exchanges of money or value for the right to own an item or get a service. Sales, in the context of accounting, refers to the income generated by a corporation via the sale of services or goods (net sales).
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The compete question is-
Clara is the head of the sales department of a firm. She wants to know the volume of sales generated by her sales department and how quickly the firm's products are sold in the regional market. In this case, Clara is most likely calculating the:
Multiple Choice:
buyer's profit.
durability of the products.
turnover of the products.
depreciation of the products.
quality of the products.
Question 1 of 10 When should a writer establish common ground before the bottom-line statement? A. When the reader may disagree with the bottom-line statement B. When the document is minutes of a meeting C. When the details are arranged in order of importance O D. When the report does not have an executive summary
A Writer establish common ground before the bottom-line statement the reader may disagree with the bottom line statement.
When should a writer create a consensus?It's crucial to shake hands with the audience before you give your introduction, which frequently takes the form of finding common ground. Two things should come out of your common ground: Introduce your subject, and then establish your position as an authority on it.
Which of the following statements best describes the final result?Net income, net earnings, or net profit are all terms used to describe a company's bottom line in business. Since it appears at the bottom of the financial statement for net income, it is known as the bottom line. The net result is determined by subtracting costs from receipts.
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A registered securities agent has been contacted by an independent venture capitalist to obtain customers for a private placement that he is forming. Which statement is TRUE?
A) the agent is prohibited from directing customers to the venture capitalist
B) The agent is permitted to direct customers to the venture capitalist without restriction
C) the agent is permitted to direct customers to the venture capitalist with the permission of the Administrator
D) the agent is permitted to direct customers to the venture capitalist if the agent has posted a surety bond
Answer: A) the agent is prohibited from directing customers to the venture capitalist
Explanation:
This could be similar to a selling away, where he's putting his customers into a security firm which they are not much aware of in a transaction that they are not supervising.
Company A is raising $1 million at its initial public offering (IPO) by issuing 2,000 shares of stock?
The value of each share if you calculate it as $1,000,000/2,000 =500.
What is stock?A stock is referred to as a kind of ownership of certain items. When an individual holds stocks or shares in the market they are entitled as a stockholder or shareholder and liable for some dividend.
The process of announcing new shares of stock to the people for the first time in a private company is known as an initial public offering (IPO). An IPO allows a company to request equity capital from the general public.
The business has grown as a pre-IPO private company with a very small number of proprietors who own the stock in the company.
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The complete question is Probably
Company A is raising $1 million at its initial public offering (IPO) by issuing 2,000 shares of stock. What is the value of each share if you calculate it as $1,000,000/2,000 =
The behavior of the chinese factory owners does not maintain and protect the fundamental rights of people. Their behavior can therefore be judged unethical according to.
The behavior of the Chinese factory owners does not maintain and protect the fundamental rights of people. Their behavior can therefore be judged unethical according to the moral rights value.
Employers and workers are both required to respect a set of moral standards, convictions, and commitments at work. This set of rules must be followed by all workers at the firm. These are people's fundamental rights.
To foster relationships between staff members and with consumers, employers put these values into action. It is up to the organization to decide whether or not to put these principles in writing, but they must be followed. Employers are also required to follow workplace ethics and might face legal action for unethical conduct.
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What is the most common way that duties under a contract are discharged?a.breachb.frustration of purposec.by performanced.by proving undue influence
The most common way that duties under a contract are discharged is c. by performance. This means that both parties have fulfilled their obligations under the contract and the contract is therefore completed.
A breach occurs when one party fails to fulfill their obligations under the contract. Frustration of purpose occurs when an unforeseen event makes it impossible for one party to fulfill their obligations. Proving undue influence involves showing that one party unfairly influenced the other party into entering into the contract.
However, the most common way for a contract to be discharged is through performance, where both parties fulfill their obligations and the contract is completed.
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The most common way that duties under a contract are discharged is c. by performance. This means that both parties fulfill their obligations under the contract, and the contract is considered complete.
In contrast, a breach of contract occurs when one party fails to fulfill their duties under the contract. Frustration of purpose occurs when an unforeseen event makes it impossible for one or both parties to fulfill their obligations. And undue influence occurs when one party is coerced or manipulated into agreeing to the contract.
In most cases, contracts are discharged by performance, meaning that both parties fulfill their obligations and the contract is considered complete. This is the most common and straightforward way for duties under a contract to be discharged.
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Sheila felt prepared to work after her one-day job orientation for new employees. When she got to work, however, she was shocked. She was not prepared for the fast pace, sophistication and skill level found in her new department. By noon that day, Sheila felt like she was not cut out for the job. She felt under-skilled and underprepared to meet her department's
challenges.
On her way to the company cafeteria, one of her co-workers, Tammy, caught up with her and they had lunch together. Sheila was glad that Tammy was so friendly to her and she was able to relax a little bit. During lunch Tammy talked about their manager, Mr. Smith. Sheila learned that Mr. Smith was in trouble with his superiors. Next, Tammy told her about James, the computer programmer.
She told Sheila that James spread rumors and was not to be trusted. She talked about Mrs. Tyler, the accountant. She said that Mrs. Tyler was an alcoholic and frequently took sips from a whisky bottle in her desk.
Tammy asked Sheila to join her for coffee after work. She said, "Trust me, Sheila. Once you come to understand how screwed up everyone is around here and get the feel of the place, you'll do fine."
Question: Why would Tammy be so friendly towards Sheila? What might happen if
Sheila gets close to Tammy? Have you ever been in a similar situation?
Tammy was probably friendly with Sheila because she was outgoing and made her feel comfortable at work. But Sheila should be careful about getting involved in rumors that can turn into negative conflicts.
What are organizational conflicts?These are situations where there are differences in the work environment, which may be personal or professional, such as rumors and disagreements about tasks.
Organizational conflicts arising from rumors, such as the gossip of other employees told by Thammy to Sheila, can be extremely negative, and consequently generate enmity, disintegration of teams and even dismissals.
Therefore, it is essential that there is conflict management in the organization through effective communication, interpersonal relationships based on ethics and respect for all employees.
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True or false :Equifax experian and transunion are legally obligated to provide identical information
It should be noted that Equifax experian and transunion are legally obligated to provide identical information.
What is Experian and Equifax?Experian and Equifax serves as a credit bureaus in the U.S that collect and research credit information.
They help individuals to rate the overall ability to pay back a debt.
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assuming you can earn percent annually on your investments, how much must you invest at the end of each of the next years to be able to buy your dream home when you retire? a. If the house you are looking at currently costs $160,000 and is expected to increase in value each year at a rate of 5 percent, what will the value of the house be when you retire in 6 years? (Round to the nearest cent.) b. Assuming you can earn 9 percent annually on your investments, how much must you invest at the end of each of the next 6 years to be able to buy your dream home when you retire? Round to the nearest cent.)
An investment plan for a dream home involves saving and investing a specific amount of money over a certain period of time to purchase a desired property.
a. To calculate the value of the house when you retire in 6 years, we need to use the formula for future value:
FV =\(PV x (1 + r)^n\)
Where FV is the future value, PV is the present value, r is the annual interest rate, and n is the number of years. Plugging in the values given, we get:
FV =\($160,000 x (1 + 0.05)^6 = $217,096.25\)
So the value of the house when you retire in 6 years will be $217,096.25.
b. To calculate the amount you need to invest each year to buy your dream home when you retire, we need to use the formula for present value of an annuity:
PV = \(PMT x [(1 - (1 + r)^-n) / r]\)
Where PV is the present value, PMT is the annual payment, r is the annual interest rate, and n is the number of years. Plugging in the values given, we get:
PV = $217,096.25
r = 0.09
n = 6
PMT =\(PV / [(1 - (1 + r)^-n) / r]\)
PMT = $\(217,096.25 / [(1 - (1 + 0.09)^-6) / 0.09]\)
PMT = $27,688.91
So you would need to invest $27,688.91 at the end of each of the next 6 years to be able to buy your dream home when you retire.
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Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.50 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.50 pounds. Materials cost $5 per pound, but Stefani always takes the 2.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound. Direct labor. Each unit requires 2.00 hours of labor. Setup, cleanup, and downtime average 0.40 hours per unit. The average hourly pay rate of Stefani’s employees is $12.00. Payroll taxes and fringe benefits are an additional $3.00 per hour. Manufacturing overhead. Overhead is applied at a rate of $7.00 per direct labor hour.
Answer:
The right solution is "$78.55".
Explanation:
The given values are:
Material cost,
= $5 per pound
Average freight costs,
= $0.25 per pound
Downtime average,
= 0.40 hours per unit
According to the question,
The direct material cost per unit will be:
= \(((4.5+0.5)\times 5\times 0.98)+(0.25\times (4.5+0.5))\)
= \((5\times 5\times 0.98)+(0.25\times 5)\)
= \(24.5+1.25\)
= \(25.75\) ($)
The direct labor will be:
= \(((2.0+0.4)\times 12)+(3\times (2.0+0.4))\)
= \(28.8+7.2\)
= \(36\) ($)
Manufacturing overhead will be:
= \((2.0+0.4)\times 7\)
= \(2.4\times 7\)
= \(16.8\) ($)
hence,
The standard cost per unit will be:
= \(Direct \ material+Direct \ labor+Manufacturing \ overhead\)
= \(25.75+36+16.8\)
= \(78.55\) ($)
explain the difference between a peer to peer LAN server-based LAN
Answer:
In Client-Server Network, Centralized server is used to store the data. While in Peer-to-Peer Network, Each peer has its own data. ... In Client-Server Network, Server respond the services which is request by Client. While in Peer-to-Peer Network, Each and every node can do both request and respond for the services.
To balance the money coming in with that going out of the Social Security program by 2017:
Multiple choice question.
government will have to raise taxes, reduce benefits, spend less on other programs, or borrow on the world market
government will have to increase payments to Medicaid, education, and other social welfare programs
government will have to increase payments throughout all other social programs
government will have to increase benefits, reduce spending elsewhere, decrease taxes, or borrow on the world markets
A. The government will have to either raise taxes, reduce benefits, spend less on other programs, or borrow on the world market- to balance the money coming in with that going out of the Social Security program by 2017.
What is Social Security?Social Security is a government program that provides economic assistance to individuals who have reached retirement age, are disabled, or are eligible for survivorship benefits. Social Security is largely funded by payroll taxes, which are collected from employees and matched by their employers.
Social Security faces financial issues that threaten the viability of the program, including a growing ratio of beneficiaries to workers and longer lifespans, among other things.
The Social Security Board of Trustees, who oversee the program, predicts that Social Security will have the ability to pay full benefits until 2035.
However, if Congress does not act before then, benefits will be reduced by approximately 20%.The government will have to raise taxes, reduce benefits, spend less on other programs, or borrow on the world market to balance the money coming in with that going out of the Social Security program by 2017.
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T/F: sales discounts are discounts that consumers get from buying clearance items at a reduced price.
The given statement "sales discounts are indeed discounts that consumers can receive from purchasing clearance items at a reduced price" is true because in the context of retail and commerce, sales discounts are typically offered by sellers to encourage consumers to buy products or services at lower prices.
This strategy can help increase sales volume, clear out old or excess inventory, and boost customer satisfaction.
Clearance items, in particular, are goods that the retailer wants to clear from their shelves, either to make room for new products or to sell off items that may not have been as popular as anticipated. By offering these items at a reduced price, customers are more likely to purchase them, benefiting both the seller and the buyer. Sales discounts can be presented in various forms, such as percentage reductions, buy-one-get-one-free offers, or limited-time promotions.
In conclusion, sales discounts are a common method used by retailers to attract customers and move inventory, particularly when it comes to clearance items. Offering products at discounted prices can create a win-win situation for both consumers, who can save money on their purchases, and businesses, which can increase sales and clear out unwanted stock.
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If Xavier works 30 hours last week and is paid $10 per hour the amount of money he makes before taxes and other expenses are taken out is called:
A . gross profit
B . gross pay
C . net profit
D . net pay
Answer:
D is the correct answer to the question
Explanation:
which term describes the level of exposure to some event that has an effect on an asset, usually the likelihood that something bad will happen to an asset?
Impact represents the degree of damage that can be caused by a threat that exploits an asset's vulnerability.
What is the threat vulnerability asset?
Vulnerability Asset (TVA) Matrix methodology, an open source and lightweight VA tool for identifying cyber threats. Vulnerabilities in systems of software development organizations in the southwestern United States.
What's an asset vulnerability?
According ISO 27002, an vulnerability " as a weak in the asset or group of assets that can be exploited by one or more threats". A threat is a situation or tactic that can exploit a vulnerability to damage an asset.
What are 6 types of vulnerability?
Intended to be thoroughly applicable to research topics, the list distinguishes six distinct types of vulnerabilities.
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Byron Books Inc. recently reported $9 million of net income. Its EBIT was $16.1 million, and its tax rate was 25%. What was its interest expense
To find the interest expense of Byron Books Inc., we can start with the formula for calculating net income:
Net Income = EBIT - Interest Expense * (1 - Tax Rate)
Rearranging the formula, we can solve for interest expense:
Interest Expense = (EBIT - Net Income) / (1 - Tax Rate)
Given that Byron Books Inc. reported a net income of $9 million, EBIT of $16.1 million, and a tax rate of 25% (or 0.25), we can substitute these values into the formula:
Interest Expense = (16.1 million - 9 million) / (1 - 0.25)
Interest Expense = 7.1 million / 0.75
Interest Expense = $9.4667 million or approximately $9.47 million
Therefore, the interest expense of Byron Books Inc. is approximately $9.47 million.
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The interest expense of Byron Books Inc. is $7.1 million.
Explanation:Interest expense is a financial cost that a company or individual incurs when borrowing money. It's typically associated with loans, bonds, or credit lines. This expense represents the amount paid to the lender as compensation for the use of their funds. For businesses, it's a deductible expense, reducing taxable income. Monitoring and managing interest expense is crucial for financial health, as excessive interest payments can strain cash flow and negatively impact profitability. Byron Books Inc. recently reported $9 million in net income. Thus,
To find the interest expense, we can use the formula:
Interest Expense = EBIT - Net Income
Substituting the given values:
Interest Expense = $16.1 million - $9 million
= $7.1 million
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What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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businesses are required to follow laws and regulations, but they ___ follow ethical standards in a code of ethics
Answer:
businesses are required to follow laws and regulations, but they choose to follow ethical standards in a code of ethics
Answer:
Explanation:
they choose to
Is the following a social organization or a task-oriented organization? college sorority
task-oriented
social
Answer: social organization
Explanation:
A college sorority is a social organization. College sorority is simply a social club for the females that are in college where the females perform activities together.
Social organization simply has to do with the network of relationships that are in a group and how they are related. Such network is vital in enhancing the relationship in the group.
URGENT!!! When payroll expenses are journalized, the payroll tax expense is entered as ___.
A. a debit
B. neither a debit nor a credit
C. a credit
D. a debit and credit
When payroll expenses are journalized, the payroll tax expense is typically entered as a debit.
Therefore, the correct answer is A. a debit.
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Select all that apply Generally accepted accounting principles (GAAP) wants information to have: (Check all that apply)a. conceptual history b. relevance c. faithful representation d. rules
Generally accepted accounting principles (GAAP) want information to have conceptual history, relevance, and faithful representation. Conceptual history refers to the idea that accounting information should be presented within the context of the business and its financial history.
Relevance means that information should be useful and provide value to those who are using it.
Faithful representation means that the information accurately reflects the economic reality of the business, without any intentional or unintentional bias. GAAP does not rely on rules, but instead provides guidelines and principles that should be followed to ensure that financial reporting is consistent, transparent, and reliable.
In summary, GAAP aims to provide high-quality financial information that is useful to stakeholders, accurately reflects the financial position of the business, and can be relied upon for decision-making purposes.
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The Generally Accepted Accounting Principles (GAAP) requires information to have relevance and faithful representation. Relevance influences decisions and predicts future outcomes; Faithful representation ensures accuracy and neutrality of information. Conceptual history and rules are not stated as requirements by GAAP.
Explanation:The Generally Accepted Accounting Principles (GAAP) require information to have certain key characteristics. In this case, GAAP requires information to be both relevant and have a faithful representation.
Relevance means that the information should have the ability to influence a decision; it should predict future outcomes and provide feedback about prior expectations. Faithful representation means the information presented is complete, neutral, and free from error.
Conceptual history and rules are not among the principles that GAAP requires for financial information. While rules are essential in accounting and a part of GAAP in a broader sense, they are not an innate quality information requires under GAAP. Conceptual history is not listed as a requirement by GAAP at all.
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Choose one scenario and conduct "What-if" analysis. You will need to show multiple scenarios and choose best improvements.
I need to conduct a what if analysis for cancelling car rental
Scenario: You booked a car rental for 3 days, starting tomorrow. The total cost of the rental is $300. You have a 24-hour cancellation policy.
What-if: You decide to cancel the car rental 24 hours before your reservation starts.
Possible outcomesNo penalty: If you cancel within the 24-hour cancellation window, you will not be charged any cancellation fees.
50% refund: If you cancel within 48 hours of your reservation start time, you will receive a 50% refund.
No refund: If you cancel after 48 hours of your reservation start time, you will not receive any refund.
Best improvement: The best improvement would be to have a more lenient cancellation policy. For example, a 48-hour cancellation policy would give customers more flexibility and peace of mind.
In this case, the best improvement would be to have a more lenient cancellation policy. This would give customers more flexibility and peace of mind.
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Which type of agreement does Ronald plan to sign?
Ronald is a first-time entrepreneur. He wants to raise finance for his new business. He does not have any past record of paying off debt. He has decided to sign a ___ agreement with a bank to get a loan.
The agreement will allow the bank to recover the loan amount by claiming Ronald’s property, personal assets, and investments if he fails to pay off the debt
Ronald is a first-time entrepreneur. He wants to raise finance for his new business. He does not have any past record of paying off debt. He has decided to sign a written agreement with a bank to get a loan.
The agreement will allow the bank to recover the loan amount by claiming Ronald’s property, personal assets, and investments if he fails to pay off the debt a legal agreement that is enforceable between two or more parties. A legal document known as a submission summarizes the parties' commitment to comply by the arbitrator's ruling. covenant, concordat, and agreement. an agreement in writing, signed by two or more parties (nations), to carry out an activity written and verbal agreements. If all of the conditions necessary to create a legally binding contract have been satisfied, a contract may be either oral (spoken) or written.
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Which type of endorsement transfers ownership to someone else?
Blank
Restrictive
Special
None of these
Answer:
Special
Explanation:
A payee performs a special endorsement when they want someone else to receive the check amount. It means the payee transfers the rights to the check payment or the asset to a third party. The payee is the person whose name appears on the front.
In the special endorsement, the payee writes at the back of the check or instrument, " pay to the order of'' and states the new recipient's name. The payee has to sign to confirm the endorsement.
Explain the criticisms of labor unions today. 25 POINTSS
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
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Monopolistic competition is a market condition with which major feature
Answer:
O C. Different businesses compete to sell similar products.
Explanation:
Here are the options :
A. Many businesses freely produce the same product.
O B. Only one business controls an entire industry.
O C. Different businesses compete to sell similar products.
O D. A few huge businesses control an industry.
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
Monopolistic competitive firms engage in advertising for their products
An example of monopolistic competition are restaurants
Answer:
A is correct
Explanation:
different businesses compete to sell similar products
Bridgett received her bank statement with a previous balance of $181.36. Total deposits were $475.00. Total checks written were $165.25. The service charge was $7.00. How much money does Bridget have in her checking account?
Your answer:
-$121.39
$484.11
$491.11
Answer:
$484.11
Explanation:
Calculation to determine How much money does Bridget have in her checking account?
Previous balance of $181.36
Add Total deposits $475.00
Less Total checks written $165.25
Less service charge $7.00
Checking account balance $484.11
Therefore How much money does Bridget have in her checking account is $484.11
The product of 59,736 and 600 is
A) 29,868,000
B) 34,761,600
C) 35,625,600
D) 35,841,600
Answer:
D) 35,841,600Explanation:
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.The main purpose of an Insurance Guaranty Association is:
A. to make sure that policyholders are able to pay their premiums.
B. to make sure that insurers are able to pay claims, even in the event of insolvency.
C. to punish insolvent insurers.
D. to oversee the Insurance Commissioner.
The main purpose of an Insurance Guaranty Association is B. to make sure that insurers are able to pay claims, even in the event of insolvency.
The main purpose of an Insurance Guaranty Association is to protect policyholders in the event that an insurance company becomes insolvent and is unable to fulfill its obligations to pay claims. The association is typically established by state law and serves as a safety net to ensure that policyholders receive the benefits they are entitled to, even if their insurer goes bankrupt.
The association may step in to provide coverage or financial assistance to policyholders affected by the insolvency, helping to stabilize the insurance market and maintain confidence in the industry. Its primary focus is on protecting the interests of policyholders and ensuring that claims are honored, rather than punishing insolvent insurers or overseeing regulatory bodies like the Insurance Commissioner.
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YOU buy a cellphone, computer or car. You sign up for a credit card or open a retirement account. You apply for a job. In all these circumstances, you’re told that you must agree to dozens of terms and conditions, set forth in technical verbiage and tiny print. Eager to complete your purchase — or desperate to be hired — you ultimately sign without reading. If you’re lucky, nothing goes wrong. But a growing number of consumers and job seekers discover, when something does go wrong, that they have unknowingly agreed to waive their right to file a lawsuit. Instead, they must submit to arbitration. For some, arbitration proves too costly to pursue. Among those who can afford the fees, many learn they cannot enforce their legal rights because arbitration decisions do not need to be based on the law; arbitrators have their own procedures, and some studies have found that they are systematically biased in favor of the companies that hire them. Lawyers are often unwilling to represent arbitration complainants because of award caps in the agreements. And increasingly, these accords bar class-wide arbitrations. Because arbitration decisions are typically not disclosed and not subject to appeal, consumers and workers are left without recourse and must bear the cost of unfair, deceptive and harmful practices.One 2008 study in the University of Michigan Journal of Law Reform examined employment and consumer contracts used by 21 major corporations and found mandatory arbitration clauses in 93 percent of the employment contracts and 77 percent of the consumer contracts. But Congress has repeatedly failed to step in and fix this system. The proposed Arbitration Fairness Act of 2011 would be a step in the right direction. The legislation would make predispute agreements to arbitrate consumer and employment disputes unenforceable. Similar bills, introduced in 2007 and 2009, both died in committee. It wasn’t always this way. Until the early 20th century, American courts often refused to enforce agreements to arbitrate, insisting that parties ought to have their day in court. This began to change with the 1925 enactment of the Federal Arbitration Act, which established that agreements to arbitrate were enforceable like any other contract. While the arbitration act was initially envisioned as applying primarily to disputes between commercial equals, since the 1980s, the United States Supreme Court has interpreted it in ways that have facilitated corporate America’s efforts to force consumers and employees into arbitration. This trend has accelerated in the last few years. The standard historical account begins with the Federal Arbitration Act, but the practice of extrajudicial dispute resolution has a much longer history. Mid-19th century Americans across several territories and states — including Florida, California and New York — engaged in a nearly forgotten debate concerning "conciliation courts." Widely adopted throughout Europe and its colonies during the late 18th and early 19th centuries, these were institutions composed of respected community leaders seeking to persuade disputants to accept an equitable compromise in secret, lawyer-free proceedings and without regard to the formal rule of law. Despite the efforts of American proponents of these courts, proposals to establish them went nowhere. In the view of their opponents (including businessmen and lawyers), such courts were incompatible with the American commitment to freedom. Adjudication, they successfully insisted, was a vital bulwark of liberty. It enabled individuals to publicly assert their rights as equal citizens under the law. As one delegate to the 1846 New York State Constitutional Convention argued, "In a free country like this" — one "where every man was the equal of his fellow-man" — "there would always be litigation." There was one exception to the failure of conciliation courts to take root here. The Freedmen’s Bureau courts established in the Reconstruction South to provide justice to the recently freed slaves were modeled on European conciliation courts. These courts were embraced by the white Northern elite precisely because of perceived parallels between the newly freed African-Americans and European peasants, many of whom had themselves only recently been released from serfdom. But members of this same elite refused to subject those they called Yankees (namely, white men like themselves) to conciliation.
Can you please tell what did you learn from this reading?
2- what surprised you?
3- what did you agree or disagree with?
The article discusses how consumers and job seekers unknowingly agree to waive their right to file a lawsuit while signing up for a credit card or purchasing a car or cellphone. The contracts that contain dozens of terms and conditions are written in technical language and tiny print.
A growing number of consumers and job seekers are unable to file a lawsuit as they have agreed to submit to arbitration. Lawyers are unwilling to represent arbitration complainants due to the award caps in the agreements and many accords bar class-wide arbitrations. The proposed Arbitration Fairness Act of 2011 would make predispute agreements to arbitrate consumer and employment disputes unenforceable. The article also discusses the history of extrajudicial dispute resolution that has a much longer history than the Federal Arbitration Act.
The article highlights how companies take advantage of consumers and job seekers through contracts that are written in technical language and tiny print. The majority of consumers and job seekers sign the contracts without reading them, unaware that they have agreed to waive their right to file a lawsuit. These individuals are left with no recourse as arbitration decisions do not need to be based on the law and lawyers are unwilling to represent arbitration complainants.
What surprised you?What surprised me was that mandatory arbitration clauses were found in 93 percent of the employment contracts and 77 percent of the consumer contracts examined in the 2008 study. These high percentages suggest that consumers and job seekers are at a significant disadvantage when signing up for credit cards, purchasing cars or cellphones, or applying for jobs. The trend of forced arbitration has accelerated in recent years, with the United States Supreme Court interpreting the Federal Arbitration Act in ways that have facilitated corporate America's efforts to force consumers and employees into arbitration.
What did you agree or disagree with?I agree that the proposed Arbitration Fairness Act of 2011 would be a step in the right direction to protect consumers and job seekers from forced arbitration. Predispute agreements to arbitrate consumer and employment disputes should be unenforceable to give consumers and job seekers the option to file a lawsuit if necessary. I disagree with the idea that conciliation courts were incompatible with the American commitment to freedom.
While adjudication is a vital bulwark of liberty, conciliation courts provide an alternative way to resolve disputes. Conciliation courts could be beneficial in cases where parties are unable to afford legal fees or where legal representation is unavailable.
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At what stage of the product life cycle is the goal to remain profitable and decide whether to keep or phase out theâ product?
A.
Maturity stage
B.
Introduction stage
C.
Decline stage
D.
Cannibalization stage
E.
Growth stage
C.
Decline stage