1.You are the owner of a new cauliflower pizza crust manufacturer. The pizza crusts are made primarily of cauliflower and brown rice flour. Your factory supervisor takes the initiative and decides to place an order for more brown rice flour from one of your suppliers while you are out of town. Since the brown rice flour was necessary for keeping operations going while you were gone, you happily pay the supplier for the order when you get back in town. This same employee starts to place new orders for brown rice flour anytime supplies are low, and even though you never gave him formal permission to continue keep paying the supplier. However, one day you notice that the price that the supplier of brown rice flour is asking is higher than the going rate with other suppliers. You call the supplier and ask for a reduction in price, because you assert that the employee, the factory supervisor, was not authorized to place the order in the first place. Do you think the supplier might insist on getting his original price even though you say the employee was not authorized to place the order? Explain.

2.You are the owner of a beachside restaurant, and you have fallen behind for many months on your loan repayments to the bank (you owe a total of $100,000). The bank has become fed up and now wants you to hand over all of your remaining company funds to pay back the loan. However, the summer tourist season is coming up in a few months and this is where you typically do 60%-70% of your business for the year. Without your company funds you will not be able to pay your rent and pay your staff, so you will not be able to pay back the bank until after the summer season. If you end up needing to file for bankruptcy, what type do you think would be most appropriate for this situationChapter 7, Chapter 11, or Chapter 13?