Discuss the following:
(1) There are many successful companies out there. We know that they should have effective supply chains in order to be fully successful. Name a company that effectively uses supply chains to create value for their customers and explain how they do so.
(2) In contracts, voidable is a term typically used with respect to a contract that is valid and binding unless avoided or declared void by a party to the contract who is legitimately exercising a power to avoid the contractual obligations.
A contract may be voidable on the grounds of:
a. Fraud
b. Mistake
c. Misrepresentation
d. Lack of capacity
e. Duress
f. Undue Influence
g. Abuse of a fiduciary relationship
Discuss the following:
1. Should we allow for voidable contracts? Why or why not?
2. From the list above, provide an example scenario for one (not all) of the listed grounds. For example: Duress: Max tells Rhonda that he will kidnap Rhonda's children if she does not enter into the contract. Rhonda signs it, but later wants to get out of it. This will be a voidable contract based on duress.
3. From the list above, add another reason that you think should be ground to make a contract voidable and explain why it would be a good addition.