A Buyer Indicated That a Particular Benefit Is Valuable and Important

question 3

Multiple Choice

A buyer indicated that a particular benefit is valuable and important. That benefit is referred to as a/an ____________.

• A) Value Feature
• B) Value Benefit
• C) Confirmed Benefit
• D) Value Proposition
• E) None of the above.

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Definitions:

Business Law

The body of law that governs business and commercial transactions, including contracts, property, and liability.

Undisclosed Principal

A principal whose identity is not revealed by the agent to the third party during a transaction, creating legal implications concerning the agent's liability.

Disclosed Principal

A principal whose identity is made known by the agent to a third party at the time of entering into a contract, which directly affects the liability and obligations under the contract.

Partially Disclosed Principal

In a transaction context, this refers to a situation where the agent reveals the existence of a principal but does not disclose the principal's identity to the third party.