What Is the Difference Between Low-Involvement Purchases and High-Involvement Purchases

question 89

Essay

What is the difference between low-involvement purchases and high-involvement purchases? Give an example of each type.

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Definitions:

Quasi-Contract

A legal concept where the courts impose contractual obligations on parties not in an actual contract to prevent unjust enrichment.

Law Of Equity

A system of law that supplements the statutory and common laws, aiming to achieve fairness and justice in cases where strict application of the law might result in an inequitable outcome.

Real Estate Agent

A certified individual who acts on behalf of sellers or buyers in property sales.

Agency By Necessity

A situation where an agent is granted emergency powers to act on behalf of another without their consent, due to unforeseen circumstances.