Small Suppliers

question 2

Multiple Choice

Small suppliers:

• A)are most suited for large dollar value "A" requirements.
• B)usually represent very low risk to the purchaser.
• C)tend to have a strong financial base.
• D)tend to have an extensive management structure.
• E)often provide the greatest responsiveness and flexibility.

---

Definitions:

Condition

A stipulation in a contract that must be met for the contract to be legally binding, or an event whose occurrence or non-occurrence affects the validity of the contract.

Warranty

A guarantee, provided by a seller or manufacturer, assuring the quality, performance, or lifespan of a product, often implying repair or replacement if specifications are not met.

Tender Of Performance

An unsuccessful (because it is rejected or prevented by the other party) attempt by one of the parties to a contract to perform its obligations under the contract.

Breach Of Contract

The violation of any agreed-upon terms or conditions in a binding contract, which can lead to legal consequences for the party in breach.