C

Here students should outline the instances under the Statute of Frauds in which a contract must be evidenced in writing in order to be enforceable. Students should make clear that writing has no impact on the validity of the agreement, only on whether or not the courts will enforce it. Examples include contracts not to be performed within one year, land dealings, guarantees, etc. (bearing in mind the situation in the relevant province). This question, however, goes further and requires students to address practical issues. Good students will note that people may remember things differently over time, making it critical that there is a permanent record of some form. The existence of a document may help to prevent litigation or may be useful in narrowing down issues in a lawsuit. A verbal agreement may be binding, but a written contract can provide important evidence of that agreement.

Purchasing, procurement, and strategic sourcing are receiving considerable attention as organizations try to improve the overall efficiency and effectiveness of their supply chains.Purchasing: The transactional function of buying products and services. In a business setting, this commonly involves the placement and processing of a purchase order.Procurement: Refers to the process of managing a broad range of processes that are associated with a company's need to procure goods and services that are required to manufacture a product (direct) or to operate the organization (indirect). Strategic sourcing: Essentially, the strategic sourcing process is broader and more comprehensive than the procurement process. Strategic sourcing takes the process further, focuses more on supply chain impacts of procurement and purchasing decisions, and works cross-functionally within the business to help achieve the organization's overall business goals.

True

A

C