Supply Chain World - Volume 7, Issue 3 - 16

CONTRACTS

BY PATRICK W. KELLY

We Agreed to That?
Businesses may be agreeing to terms and conditions they cannot
fulfill without even realizing it.
Company A needs 500 crates. Company B sells crates. Company A sends
a purchase order to Company B for 500 crates. Company B sends Company A an invoice for the cost of the 500 crates. Yet neither the purchase
order nor the invoice addresses the timing of the payment, the shipping
date or the quality of the crates.

When a deal concerns businesses
transacting for the sale of goods,
there are rules that are governing
such instances.

16

Supply Chain World VOLUME 7, ISSUE 3

Business moves fast. Deals are made
quickly. Sometimes notes hastily
written on a dinner napkin suffice to
memorialize the deal. Other times,
purchase orders, order acknowledgments and invoices evidence the parties'
agreement. But sometimes, these deals
fail to capture important terms and
conditions. What happens then?
When the deal concerns businesses
transacting for the sale of goods, there
are rules governing such instances.
Each state has a set of rules that govern
such transactions and, where necessary,
fill in gaps in the parties' contract. It is
important to know how those rules may



Supply Chain World - Volume 7, Issue 3

Table of Contents for the Digital Edition of Supply Chain World - Volume 7, Issue 3

Contents
Supply Chain World - Volume 7, Issue 3 - Cover1
Supply Chain World - Volume 7, Issue 3 - Cover2
Supply Chain World - Volume 7, Issue 3 - 1
Supply Chain World - Volume 7, Issue 3 - Contents
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Supply Chain World - Volume 7, Issue 3 - Cover3
Supply Chain World - Volume 7, Issue 3 - Cover4
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