"Tying Contracts" Are

question 54

Multiple Choice

"Tying contracts" are

• A)agreements between unions and businesses such that when a labor contract is signed, the union and the firm are bound by its terms.
• B)selling to a retailer on the condition that the retailer not resell the product to another business.
• C)selling to a retailer on the condition that the retailer not carry any rival products.
• D)arrangements whereby the sale of one product is dependent on the purchase of some other product.

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Definitions:

Arbitration

A method of dispute resolution involving a neutral third party who makes a binding decision, outside of the court system.

Legal Precedent

A decision made in a previous legal case that is considered as authority in a subsequent case with similar circumstances.

Less Expensive

Refers to items or services that are lower in price relative to others in the same category.

Arbitration Hearing

A non-judicial proceeding where a neutral third party, the arbitrator, listens to the disputing parties' arguments and evidence to make a decision that can be binding or non-binding.