A Product Is Differentiated from Its Rivals When

question 67

Multiple Choice

A product is differentiated from its rivals when:

• A)It provides something valuable and unique to customers
• B)It provides goods or services at a lower price
• C)It provides high quality
• D)None of the above

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Definitions:

Written Promise

A written document where one party agrees to perform or refrain from specific actions.

Quantum Meruit

A legal principle that allows a person to recover the reasonable value of services provided, when no specific contract was made as to payment.

Equitable Estoppel

A legal principle preventing one party from taking unfair advantage of another when their prior actions or words have led to a reliance by the latter.

Consideration

A core concept in contract law that requires a bargain or something of value to be exchanged between parties for a contract to be valid.