Learning Objectives

Upon completion of this chapter, the reader should be able to:

3.1 Define the extent of the purchasing professional’s legal authority.

3.2 Identify the requirements and terms necessary for a purchase contract to be legally enforceable.

3.3 Define what makes an offer legally valid and the terms that may be aligned with the offer.

3.4 Explain the role of the purchasing manager in the execution of contracts and purchase orders.

3.5 Express the legal impact of the information age.

3.6 Discuss the importance of ethics in purchasing.

3.7 State factors needed to be in compliance with women business enterprise (WBE), minority business enterprise (MBE), and disadvantaged business enterprise (DBE) programs.