presents American Management Association Seminars
Understanding The Legal Aspects Of Buying And Selling
Seminar No: 04509 -XNBB
CEU Credits: 1.8
Length: 3 days
The course that bridges the gap between finding a supplier and executing a successful contract!
Learn the essentials of contract law as they apply to buying and selling within your organization.
Attendees:
Both new and experienced purchasing and selling professionals, including buyers, purchasing agents, purchasing managers, and sales managers, as well as senior managers with responsibility for overseeing purchasing and selling operations.
How You Will Benefit:
- Write and implement a purchasing agreement that is clear, simple and complete
- Protect your company's interests and ensure that products and services meet specifications
- Create productive relationships with suppliers
- Solve the common problems in negotiating contract terms and conditions
- Learn alternative methods for resolving disputes with suppliers
What You Will Cover:
- Contract formation and enforcement
- Contract terms and conditions
- Types of commitment documents
- Written vs. oral contracts
- Dispute resolution
- Contract enforcement and remedies
- Uniform Commercial Code
- Government antitrust regulations
- The Federal Bankruptcy Act
- Warranties--preserving rights and obligations
Extended/Detailed Seminar Outline
Learning Objectives
- Write and Implement a Purchasing Agreement That Is Clear, Simple, and Complete
- Protect Your Company’s Interests and Ensure That Products and Services Meet Specifications
- Create Productive Relationships with Suppliers
- Solve the Common Problems in Negotiating Contract Terms and Conditions
- Learn Alternative Methods for Resolving Disputes with Suppliers
Introduction to Contract Law
- Define and Understand "Law" and Its Sources
- Be Aware of Different Forums for Conflict Resolutions
- Recognize Various "Types" of Law (Like Contract Law)
- Understand Uniform Commercial Code’s Relation to Contract Law
U.C.C. and the Law of Sales
- Recognize Which Sales Are and Which Are NOT Covered by U.C.C.
- Recognize "Merchant" and "Non-Merchant," and Duties of Each
- Understand Concept of U.C.C. "Default" Positions
- Recognize Express Override of U.C.C. Positions
- Be Aware of Upcoming U.C.C. Changes
Formation of Contracts
- Define "Contract" as It Relates to Purchasing Documents
- Recognize Various "Classifications" of Contracts
- Recognize and Use the Five Elements of Contract Formation
- Be Aware of Possible Formation Defects
Written vs. Oral Contracts
- Understand What Is Meant by "Statute of Frauds"
- Recognize What Kinds of Agreements MUST Be in Writing
- Understand What "Writing" Means under Common Law
- Understand What "Writing" Means under the U.C.C.
- Understand How Non-Compliance Affects Contract Rights
F.O.B. and Risk of Loss
- Understand the Basic Concept of F.O.B.
- Know the U.C.C. "Default" Definition of F.O.B.
- Specify Your Own F.O.B. Terms
- Recognize and Use Possible Consequences of Variations of F.O.B.
Warranties
- Understand the Basic Concept of "Warranty"
- Define "Warranty" under the U.C.C.
- Understand Difference between Express vs. Implied Warranties
- Know the Priorities among Overlapping Warranties
- Recognize How Warranties Can Be Disclaimed
- Recognize How Seller’s Liabilities Can Be Limited
Interpretation and Discharge of Contracts
- Define and Understand "Parol Evidence"
- Understand How the "Parol Evidence Rule" Is Applied
- Know What Other Criteria Courts Use to Interpret Contracts
- Know in What Order Interpretation Criteria Are Applied
Discharge of Contracts
- Understand What Is Meant by "Discharge" of Contracts
- Recognize Events That Can Result in "Total Discharge"
- Recognize Events That Can Result in "Partial Discharge"
Onerous Terms-Defenses against Enforceability
- Know the Basic Concept of "Unconscionable" Agreements
- Know U.C.C. Protections against "Unconscionable" Contracts
- Recognize Circumstances in Which Contracts Are "Unconscionable"
- Use Available Remedies against Unconscionable Agreements
Remedies for Nonperformance and Nonconforming Goods
- Understand Buyer’s Remedies for Seller’s Breach
- Understand Seller’s Remedies for Buyer’s Breach
- Recognize Third-Party Remedies for Breach by Seller or Buyer
Liabilities of the Parties
- Understand Types of Damages (General, Consequential, etc.)
- Learn to Evaluate Damages in Quasi-Contract Cases
- Understand Availability of Non-Money Damages (Specific Performance and Others)
- Apply the Appropriate Measure of Damages in Varying Circumstances
The Law of Agency
- Know Parties to an "Agency" Relationship (Agent, Principal, etc.)
- Recognize Various Types of Agency
- Recognize the Significance of Agency for Corporate Contracts
- Recognize Limitation of Agency Authority of Salesperson
- Understand When and How to Terminate Agency
Bailments
- Understand What a "Bailment" Is and Parties to It (Bailor and Bailee)
- Know Duties and Rights of Bailor and Bailee
- Recognize Bailment Situations in Buying and Selling
- Recognize Bailment "Problems" Needing Contract Provisions
Bankruptcy
- Understand What "Bankruptcy" Is
- Recognize the Business Objectives of Bankruptcy
- Know Potential Negative Effects on Buying and Selling
- Know and Use Ways to Protect against Negative Effects
Freight Contracts: The Undercharge Trap
- Understand History and Effects of Motor Carrier Deregulation
- Recognize the Lawsuit Threat from Bankrupt Carriers
- Know How to Protect against "Undercharge" Suits
Anti-Trust Principles
- Understand the Concept and History of Antitrust Law
- Recognize Risks and Costs of Anti-Competitive Acts in Buying and Selling
- Recognize and Avoid Anti-Competitive Behavior in Buying and Selling
Patents, Copyrights, and Other Rights in Data
- Understand Concept of Patent, Copyright, and Other Intellectual Property
- Recognize Breadth of Involvement in Goods and Services
- Know Various Problems to Be Encountered Regarding Intellectual Property
- Provide Contract Protections from Effects of Infringement
Government Procurement
- Understand Reasons for Regulation (Potential Problems)
- Know Areas Where Special Regulations Apply (Bidding, F.O.B., etc.)
- Understand Special Consequences for Mistakes in Government Contracting
- Be Aware of Various Contract "Types" in Government Contracting
Negotiating Computer Contracts
- Recognize Problems Special to Writing Programs
- Understand Problems Unique to Evaluation and Acceptance of Programs
- Provide for Ownership, Use and Distribution of Programs
- Provide for Ownership, Use and Distribution of Modifications of Programs
Environmental, Safety and Other Special Regulations
- Recognize "Background" of Contemplated Transaction (Enviro, Safety, Tax, etc.)
- Understand How Risk and Responsibilities Can Be Allocated-Buyer vs. Seller
- Know When Risk Is Only "Shareable" and When Completely Assignable
- Provide for Necessary Tracking of Hazardous and Toxic Wastes, etc.
- Protect against Failure of Other Party to Overcome Risk and Liability
International Purchasing
- Recognize How Domestic and International Sales Are Similar
- Anticipate How Domestic and International Sales May Differ
- Know What Kind of Specialized Rules (Treaties, etc.) Affect International Contracting
- Know What Provisions Will Produce Most U.S.-like Results
- Know What Are Worst Possible Results and Possible Compromises
Contract Writing Tips
- Understand General Contract Formats and Drafting Principles
- Identify Primary Goals of Your Specific Contract
- Anticipate Primary Obstacles to Goals
- Recognize Background Dangers (Legal, Economic, Environmental, etc.)
- Provide Parties with "Just" Escape from Partial or Total Failure
- Implement Evaluation and Learning System
Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to
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Seminars scheduled for the cities below are held at the locations listed below. For location information for other cities in which AMA seminars are held please call or email for information.
New York
AMA executive Conference Center
1601 Broadway New York, NY 10019
American Management Association (Located in the same building as the Crowne Plaza Hotel) 1601 Broadway On Broadway and 48th Street near Times Square. Entrance is on 48th Street.
Chicago
AMA executive Conference Center (adjacent to the Marroitt O'Hare)
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Chicago, IL 60631
San Francisco
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San Francisco, CA 94103
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AMA Executive Conference Center
Address: 1170 Peachtree Street Ne Cnr Peachtree & 14th (3rd Flr)
City, State, Zip: Atlanta, GA 30309
Washington, DC
Arlington, Virginia
2345 Crystal Drive, Suite 200
Arlington, VA 22202
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Cancellation Policy:
If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at
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AMA grants courtesy transfers to people who cannot attend their scheduled sessions. You can use a courtesy transfer for any seminar of equal or lesser length than the original seminar. You must use your courtesy transfer within one year of the date of your originally scheduled seminar.
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