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Bishop Engine determined the amounts that it was willing to
pay for non-bin salvage yard cores and reflected those amounts in
price sheets (price sheets) provided to its employees and
distributed to salvage yards approximately every 3 months.
Bishop Engine paid the same amounts for bin salvage yard cores
that passed inspection at its place of business and for cores
acquired from individual peddlers as those listed in the price
sheets for the same types of cores. Bishop Engine adjusted those
price sheets weekly as necessary to reflect any changing market
conditions, such as an increase in prices due to increased demand
from automobile parts remanufacturers and a decrease in prices,
but in no event below scrap value, due to decreased demand from
those remanufacturers. Bishop Engine distributed those weekly
adjusted price sheets every Monday morning to its employees, who
informed the salvage yard operators of changes in the price
sheets. (We shall refer to the amounts that Bishop Engine paid
for non-bin salvage yard cores and for bin salvage yard cores
that passed inspection at its place of business as the salvage
yard cost.) Bishop Engine paid scrap value for the bin salvage
yard cores that did not pass inspection at its place of business
and for the types of cores acquired from individual peddlers that
were not listed on the price sheets.
Bishop Engine generally paid the cost of shipping the
salvage yard cores that it had purchased to its place of
business. At Bishop Engine's place of business, its employees
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Last modified: May 25, 2011