Susan Is Classifying Her Accounts into Categories So That She

question 117

True/False

Susan is classifying her accounts into categories so that she can develop the appropriate relationship strategy for each category. Susan is working on her account targeting strategy.

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for an act by another party, becoming binding upon the performance of the act.

Past Consideration

In contract law, a benefit or service previously performed and therefore cannot serve as consideration for a current contract.

Fair Market Value

The price that property would sell for on the open market between a willing buyer and a willing seller, each having reasonable knowledge of all relevant facts.

Valid Consideration

Anything of value promised to another when making a contract that is legal and results in the formation of a binding agreement.