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What Are the Three Different Types of Buying Situations Faced

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What are the three different types of buying situations faced by a typical business buyer?


Definitions:

Accord And Satisfaction

Accord and Satisfaction is a legal agreement between parties to settle a dispute by agreeing on a payment that is different from what was originally owed.

Unliquidated Debt

A debt for which the exact amount has not been determined.

Liquidated Debt

A debt for which the amount owed is known and undisputed.

Unliquidated Debt

A debt for which the amount has not been predetermined or agreed upon, often because the extent of damages or compensation cannot be readily quantified.

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