Question
Nu Enterprises Ltd. hired Jared as its purchasing agent. Jared was given the authority to purchase up to $20,000 of inventory without getting prior approval
Nu Enterprises Ltd. hired Jared as its purchasing agent. Jared was given the authority to purchase up to $20,000 of inventory without getting prior approval from the CEO of Nu Enterprises Ltd. Jared discovered inventory at 50% off the normal cost so purchased $19,900. When the CEO of Nu Enterprises received the inventory, the CEO was not happy with the inventory and wanted to reject the inventory. Is Nu Enterprises Ltd. bound by Jared's agreement? Please explain your answer by referring to the relevant legal concepts.
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Case Studies In Finance
Authors: Robert Bruner, Kenneth Eades, Michael Schill
6th Edition
0073382450, 978-0073382456
