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42 Cards in this Set
- Front
- Back
Administrative Law
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Laws established by federal regulatory agencies.
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Agent
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Person who acts in place of his or her company.
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Backdoor Selling
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Actions by a salesperson that goes behind the back of a purchaser to contact other members of the buying center.
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Bribes
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Payments made to buyers to influence their purchase decisions.
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Business Defamation
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Making untrue statemets to customers about a competitor, it's products, or its salespeople.
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Canned Sales Pitch
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A scripted sales pitch to follow without deviation.
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Collusion
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Agreement among competitors, made after contacting customers, concerning their relationships with customers.
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Common Law
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Legal precedents that arise out of court decisions.
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Conspiracy
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Agreement among competitors, made prior to contacting customers, concerning their relationships with customers.
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Contract to Sell
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Offer made by a salesperson that recieved an unqualified acceptance by a buyer.
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Credulous Person Standard
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Canadian law stating that a company is liable to pay damages if advertising and sales peresentation claims about comparison with competitive products could be misunderstood.
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Cultural Relativism
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A view that no culture's ethics are superior to those of another culture's.
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Deception
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Unethical practice of withholding info.
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Ethical Imperialism
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The view that the ethical standards that apply locally should be applied to everyone's behavior around the world.
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Ethics
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Principles governing the behavior of an individual or a group.
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Expressed Warranty
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Warranty specified through oral or written communications.
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False Claims Act
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An 1863 law encouraging citizens no press claims against vendors that sell fraudulently.
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Free on Board (FOB) Destination
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The seller has title until the goods are recieved at the destination.
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FOB Factory
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The buyer has title when the goods leave the seller's facility.
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Foreign Corrupt Practices Act
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Law that governs the behavior of U,S. business in foreign countries.
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Implied Warranty
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Warranty not stated oraly or written cummunication but is still obligated by law.
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Invitation to Negotiate
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The initiation of an interection.
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Kickbacks
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Payments made to buyers based on the amount of orders they place for a salesperson's products or services.
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Lubrication
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Small sums of money or gifts to get the officials to do their jobs more rapidly.
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Manipulation
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Practice by the a saleperson to eliminate or reduce the buyer's choice unfairly.
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Offer
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Specific starement by the seller outlining what the seller will provide and what is expected from the buyer.
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Orders
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Written orders that become contracts when they are signed by an authorized representative of a sales person's company.
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Persuasion
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Practice by a salesperson designed to influence the buyers decision.
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Price Discrimination
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A seller gives unjustified special prices to some customers and not to others.
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Privacy Laws
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Laws that limit the amount of information that a firm can obtain about a consumer and specify how that information can be used or shared.
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Reciprocity
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Special relationship in which two companies agree to buy products from each other.
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Resale Price Maintenance
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A producer establishes a minimum price in which a distributor or retailers products cant be sold.
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Sale
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The transfer of a title to goods and services by the seller to the buyer in exchange for money.
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Sales Puffery
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Exaggerated statements about the performance of products or services.
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Sexual Harassment
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Unwelcome sexual advances, requests for sexual favors, and other, similar verbal and non verbal behaviors.
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Spiffs (Push Money)
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The producer pays the reseller's salespeople to motivate them to sell the producer's products or services.
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Statutory Law
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Laws based on legislation passed by either state legislatures or congress.
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Subordination
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Payment of large sums of money to officials to get them to do something that is illegal.
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Trade Secrets
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Information owned by a company that gives it a competitive advantage.
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Tying Agreement
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Agreement between a buyer and a seller in which the buyer is required to purchase one product to get another.
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Uniform Commercial Code (UCC)
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Legal guide to commercial practice in the United States.
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Warranty
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Assurance by the seller that the goods will perform as represented.
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