In a Bilateral Contract, Only One Party Makes a Promise

question 41

True/False

In a bilateral contract, only one party makes a promise.

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Definitions:

Competitive Strategy

A plan of action designed to achieve a sustainable advantage over competitors, through understanding and responding to competitive forces.

Contingency Strategy

A plan prepared to address specific unforeseen events or situations that may impact the organization.

Marketing Strategy

A plan of action designed to promote and sell a product or service.

Tactical Strategy

Short-term focused actions and plans developed to achieve specific parts of a larger strategic goal.