An Equitable Condition Is One That Can Be Implied from the Circumstances

question 62

True/False

An equitable condition is one that can be implied from the circumstances surrounding a contract and the parties' conduct.

Understand the concept and functions of multichannel retailing.

Identify the stages of the retail life cycle and the characteristics of each stage.

Recognize the strategies retailers adopt at different stages of the retail life cycle to maximize profits and market share.

Differentiate between the types of merchant wholesalers and their roles in the distribution channel.

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Definitions:

Debt

An amount of money borrowed by one party from another, typically with the obligation to pay back with interest.

Unilateral Discharge

When one party ends an agreement or contract without the need for permission from or negotiation with the other party.

Discharged

Released from an obligation, duty, or debt; in employment, it can also mean being fired or let go from a job.

Modified

Altered or changed from the original form, structure, or condition.