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Explain Why It Is Difficult to Standardize Services and Why

question 132

Essay

Explain why it is difficult to standardize services and why many consumers may not necessarily want service standardization.


Definitions:

Codicils

Amendments or additions made to an existing will, allowing for adjustments without needing to draft a new document entirely.

Trusts

Legal arrangements where one party holds property for the benefit of another, also used in monopolistic business contexts to refer to large corporations that exert significant control over a market.

Will

A legal document in which a person specifies the method to be applied in the management and distribution of their estate after death.

Intestate

A legal term describing the status of an individual who dies without a valid will, leading to their estate being distributed according to statutory laws.

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