The Knowledge and Skills Students Acquire in Business Courses Will

question 171

Multiple Choice

The knowledge and skills students acquire in business courses will be useful to them:

• A)only if they work for a major corporation.
• B)only if they work for a nonprofit organization.
• C)only if they start their own businesses.
• D)if they work for any organization that produces goods and services,including nonprofit and volunteer organizations as well as businesses.

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Definitions:

Materially Breach

A significant failure to perform one's duties under a contract that results in harm to the other party and provides grounds for termination of the agreement.

Total Breach

A significant failure to fulfill a core obligation of a contract, allowing the other party to terminate the agreement and seek damages.

Estoppel

A legal principle preventing someone from arguing something contrary to a claim previously made or acted upon in good faith.

Waiver

The intentional relinquishment of a known right. It is a voluntary act and implies an election by the party to dispense with something of value, or to forgo some advantage that he or she might have demanded and insisted on.