Examlex
Regarding low cost and differentiation strategies,when is each strategy appropriate?
Unilateral Contracts
Agreements in which one party makes a promise in exchange for the other party's performance, not a promise in return.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise if the other party has reasonably relied on that promise to their detriment.
Revocation
The act of withdrawing, repealing, or cancelling a right, permission, or contract.
Effective Acceptance
The expression of assent to the terms of an offer in a manner requested or authorized by the offeror, resulting in a binding contract.
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